What is Article 9 of the Uniform Commercial Code?
Article 9 is an article under the Uniform Commercial Code (UCC) that governs secured transactions, or those transactions that pair a debt with the creditor’s interest in the secured property.
How do I find UCC filings?
There are two simple methods for finding UCC filings. The first method is to refer to your business credit history. The second method is to search for your business name on your secretary of state’s online database.
Does Michigan follow the UCC?
The UCC has been adopted in one form or another by all fifty states. The Michigan Uniform Commercial Code was first adopted in 1962, and has been amended at various times throughout the years since. Michigan ‘s UCC is divided into nine separate Articles.
What is the Article 9?
Article 9 protects your right to freedom of thought, belief and religion. It includes the right to change your religion or beliefs at any time. You also have the right to put your thoughts and beliefs into action.
What is SOS UCC?
Uniform Commercial Code (UCC) filings allow creditors to notify other creditors about a debtor’s assets used as collateral for a secured transaction. UCC liens filed with Secretary of State offices act as a public notice by the “creditor” of the creditor’s interest in the property.
What is a Uniform Commercial Code lien?
Does SBA file UCC?
SBA files a UCC-1 general security interest against non-real estate business assets.
How long is a UCC filing active for?
How long does a UCC filing last? A UCC-1 filing is good for five years. After five years, it is considered lapsed and no longer valid.
What does Article 2 of the UCC say?
Article 2 is a vast segment of the UCC that specifically addresses contracts for the sale of goods. A good is any movable property identified at the time of the contract. ‘Goods’ are also sometimes known as ‘chattels. Under the UCC, a sale of goods is the transfer of title from seller to buyer for a price.
Provided by the Department of Licensing and Regulatory Affairs. UCC Overview Uniform Commercial Code law governs commercial transactions. Article 9 of the Uniform Commercial Code designates the office of the Secretary of State for the filing and searching of secured transaction documents.
Is the Uniform Commercial Code the same as ucc11?
Although not an official UCC search, it uses the same search logic as a UCC11 search. Provided by the Department of Licensing and Regulatory Affairs. UCC Overview Uniform Commercial Code law governs commercial transactions.
Where can I file UCC documents in Michigan?
Use our UCC Online Service to file and search UCC documents over the Internet, instead of by mail or fax. If the above link does not work, type https://ucc.sos.state.mi.us/ into your browser’s address box.
What is the scope of Article 9-109?
§ 9-109. SCOPE. § 9-110. SECURITY INTERESTS ARISING UNDER ARTICLE 2 OR 2A. Part 2. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement