Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The 2001 amendments to the Uniform Commercial Code attempted to dramatically simplify the process of perfecting a security interest in personal property. For most types of personal property, such as accounts receivable, equipment, inventory and raw materials, perfection is accomplished by filing a UCC-1 financing statement with the secretary of state’s office in the state in which the borrower is incorporated. The laws of states concerning perfecting a lien based on a claim obtained by judgment may interfere with the simplicity sought by the amendments to the UCC — of requiring a filing only in the state of a borrower’s incorporation.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.