A required filing under the Uniform Commercial Code used when a borrower claims personal property as collateral against a loan. Under the Code, the borrower must not dispose of the property without repaying the debt in full, because the loan provides the lender with a security interest in the property.
Related information about UCC-1 Statement:
- UCC FINANCING STATEMENT - IACA
May 22, 2002 ... B. SEND ACKNOWLEDGMENT TO: (Name and Address). FILING OFFICE COPY — UCC FINANCING STATEMENT (FORM UCC1) (REV.
- What is a UCC-1 Financing Statement - Filing Business Taxes ...
UCC-1 Statement. ... inventory, and other tangible assets of a business) are used as collateral for borrowing, a UCC-1 statement is prepared, signed, and filed.
- UCC-1 Statement Definition | Investopedia
One of the standard mortgage documents listed in the Uniform Commercial Code . The UCC-1 Statement lists and describes any personal property that is ...
- UCC-1 Statement - Financial Dictionary - The Free Dictionary
A statement filed for personal property used as collateral on a loan. The statement derives its name from the Uniform Commercial Code (UCC), which requires its ...
- UCC-1 - Legal Dictionary - The Free Dictionary
UCC 2B · UCC Church of Christ · UCC Church of Christ · UCC&A · UCC(N). UCC -1. UCC-1 Statement · UCC-1 Statements · UCC/XDP · UCC1 Statement ...
- ucc-1 statement Definition | Business Dictionaries from AllBusiness ...
document filed with a lender detailing personal property taken as collateral from a borrower. The financing statement, a standard document under the Uniform ...
- What is UCC-1 Statement? definition and meaning
Definition of UCC-1 Statement: A required filing under the Uniform Commercial Code used when a borrower claims personal property as collateral against a ...
- putting an end to the use of the uCC-1 Financing ... - Chuhak
filing a baseless UCC -1 statement that is done with malice and intent to harm ... A simple search of “UCC-1 statement” through any search engine will turn up a ...