US Uniform Commercial Code Article 9 Secured Transactions

Article 9 of the Uniform Commercial Code as enacted by the States: how a security interest attaches (value, debtor rights, a signed security agreement or possession or control), how it is perfected (filing a financing statement in the State of the debtor's location, possession, control, automatic perfection, certificate-of-title statutes) and kept perfected through proceeds, relocation and name changes, who takes free of it and how competing interests rank (first to file or perfect, purchase-money priority, buyers in ordinary course, fixtures, deposit accounts), the account debtor and anti-assignment rules, the filing system (contents, exact debtor name, amendments, termination within twenty days of demand, five-year lapse and the six-month continuation window, filing office duties), and enforcement after default (collection, peaceful repossession, commercially reasonable disposition with notification, application of proceeds and the consumer explanation, acceptance in satisfaction, redemption, and the damages and rebuttable-presumption consequences of non-compliance), with the 2022 amendments for controllable electronic records noted. It comprises 22 controls organised across 5 domains, and applies in the United States.