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BURNS.DOC3/1/2002 11:02 ANEW ARTICLE 9 OF THE UCC: THE
GOOD, THE BAD, AND THE UGLY
Jean Legman Burns*
In 1998, the Drafting Committee of the American Law Institute
approved significant changes to
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What is new article 9 of?
It is a section of the Uniform Commercial Code (UCC) that deals with secured transactions.
Who is required to file new article 9 of?
Any individual or business entity that wants to establish a security interest in personal property.
How to fill out new article 9 of?
It must be filled out accurately and completely, including all necessary information about the parties involved and the collateral.
What is the purpose of new article 9 of?
The purpose is to establish a clear legal framework for securing interests in personal property and to protect the rights of creditors.
What information must be reported on new article 9 of?
Information such as the names and addresses of the parties involved, a description of the collateral, and the terms of the security agreement.
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