UCC-1

Resource type: Glossary Item

Status: Maintained

Jurisdiction: USA

Also known as a UCC-1 financing statement and a financing statement. A record or records composed of an initial financing statement and any filed record relating to the initial financing statement (UCC § 102(39)). In accordance with the UCC (www.practicallaw.com/1-382-3891), a UCC-1 is filed in order to perfect a lender's security interest (www.practicallaw.com/7-382-3812) in certain collateral (www.practicallaw.com/3-382-3343) of the borrower. For further information, see Practice Note, UCC Creation, Perfection and Priority of Security Interests (www.practicallaw.com/6-381-0551).

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  • Resource ID: 2-382-5069
  • Products:  PLC US Corporate & Securities, PLC US Finance, PLC US Glossary, PLC US Law Department
  • This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.
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