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Monthly Archives: January 2013

Alternative A v. Alternative B – Can the Imperfect Attain Perfection?

California’s current legislative session has just gotten under way, and coming soon will be a bill to amend Article 9 of the Uniform Commercial Code, which governs security interests in personal property.  This package of amendments was promulgated by the Uniform Law Commission (ULC) in 2010.  For the most part it consists of technical fine-tuning, with one important and controversial, exception.  This has to do with how to list the name of an individual debtor on a form UCC-1 Financing Statement. Presently, Article 9 provides that in order to perfect a security interest in the personal property of a “registered organization” such as a corporation, limited partnership, or … Continue reading

Posted in Uniform Commercial Code |