Uniform Commercial Code
POTENTIAL AMENDMENTS TO UCC ARTICLE 9
A drafting committee to consider selected amendments to Article 9
has been appointed and has had four meetings over the course of fall 2008 through 2009. Drafts are available on NCCUSL’s archive site.
Click on the links for reports for each meeting:
October 2008
February 2009
March 2009
September 2009
March 2010
Additional information on Article 9 issues can be obtained at the American Bar Association Business Law Section, Uniform Commercial Code Committee – and the Commercial Finance Committee.
MODEL FORMS
Deposit Account Control Agreements (DACA) Task Force
Model Intercreditor Agreement Task Force
MODEL LAWS
MODEL TRIBAL SECURED TRANSACTIONS ACT
http://www.nccusl.org – click on final acts and then select Model Tribal Secured Transactions Act from the drop down list.
UNIFORM ASSIGNMENT OF RENTS ACT
The Uniform Assignment of Rents Act was finalized by the Drafting Committee of the National Conference of Commissioners on Uniform State Laws (NCCUSL) and approved on July 28, 2005, following the NCCUSL 2005 Annual Meeting. The final version of the Act is posted on NCCUSL’s website at www.nccusl.org. A summary of the Act, submitted by College Fellow Carl Fridy, can be viewed here. To date there have been no state legislative introductions or adoptions.
ARTICLES
A SUMMARY OF THE PROVISIONS OF REVISED UCC ARTICLE 9 – by Edwin E. Smith, Esq.
A SUGGESTED GUIDE FOR MAKING SALE/LOAN DISTINCTION — Prof. Donald J. Rapson
REVISED ARTICLE 9 – A GLIMPSE {TYPES OF COLLATERAL} — Prof. Donald J. Rapson
PURCHASING LEASES AND OTHER CHATTEL PAPER: OBTAINING (AND PREVENTING) SUPER-PRIORITY — Prof. Donald J. Rapson
NEGOTIATING THE SHOALS — FINANCING A LICENSEE’S SOFTWARE — Leianne Crittenden, Esq.
This article reviews the limitations on a funder’s rights when financing or leasing software and provides information that a lender should be aware of when contemplating a transaction that includes license rights as collateral.
SECURITY INTERESTS IN PATENTS AND PATENT APPLICATIONS, PUBLISHED IN THE UNIVERSITY OF PITTSBURGH LAW SCHOOL’S JOURNAL OF TECHNOLOGY LAW AND POLICY — By Pauline Stevens, Esq.
The federal Patent Act pre-empts UCC Article 9 and other state law in important ways, some of which have serious consequences for financings that include security interests in patents and patent applications. The author discusses these conflicts and suggests amendments to the Patent Act that are intended to facilitate financings secured by patents and patent applications. Security Interests in Patents and Patent Applications?, 9 U. Pitt J. L. & Tech. (2005)
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