A model code of proposed statutes dealing with commercial transactions which has been adopted as legislation by all states. Each state can individually decide whether to adopt a uniform law as proposed by the UCC and also has the ability to make nonuniform amendments to the proposed statute.
In connection with transactions in goods, counsel is primarily concerned with Article 2 (Sales). Article 2 applies to transactions that involve the sale of goods, which are tangible, moveable objects that are not real estate, securities or things in action.
In connection with loan transactions, counsel is primarily concerned with Article 8 (Investment Securities) and Article 9 (Secured Transactions). Article 9 provides a comprehensive scheme for the regulation of security interests in personal property and fixtures.
For a copy of the New York UCC, see Laws of New York.
For a copy of the California UCC, see California Commercial Code.
For a copy of the Illinois UCC, see Illinois UCC.