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The Uniform Commercial CodeThe Uniform Commercial Code (UCC or the Code), first published in 1952, has been enacted in all 50 states in some form. The UCC deals primarily with transactions involving personal property (movable and intangible property), not real property(land and attached structures). The latest revision was made in 1999. The UCC is divided into 9 divisions: Article1 General Provisions Definitions, Rules of Interpretation Article 2 Sale of Goods Article 2A Leases of Goods Article 3 Negotiable Instruments, Promissory Notes and drafts (commercial paper) Article 4 Bank Deposits and banking, check collection process Article 4A Funds Transfers (Transfers of money between banks) Article 5 Letters of Credit (Transactions involving letters of credit) Article 6 Bulk Sales (sales of business assets not in the ordinary course of business) Article 7 Warehouse Receipts, Bills of Lading, and Other Documents of Title. Bailment (Storage) of Goods Article 8 Investment Securities and similar financial assets Article 9 Secured Transactions (Non real estate security interests) Overview of Secured Transactions Perfecting a security interest in intellectual property Perfecting a security interest in software |
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