The American Law Institute and the Uniform Law Commission (ULC) approved certain amendments to Article 9 of the Uniform Commercial Code in 2010. The ULC Amendments were considered and approved, with some non-uniform changes, by Texas in 2011 with a July 1, 2013 effective date. The three most noteworthy ULC amendments impact: (i) the required name of an individual on a financing statement, (ii) the perfection of collateral following the debtor’s relocation to a new jurisdiction, and (iii) collateral acquired by a new debtor. This paper provides a summary of the three most noteworthy changes to Article 9 of the Texas Uniform Commercial Code and a brief discussion of less material statutory amendments.
- secured transactions
Available at: http://works.bepress.com/allen_dickey/1/