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The UCC has been adopted by all 50 states and the District of Columbia. In general, the state legislatures do not amend their UCC laws as often as they amend their business entity laws, nor do the filing offices revise their UCC forms as often as their business entity forms.
Uniform Commercial Code1 (UCC1) statement is a legal notice filed by creditors in an effort to publicly declare their right to seize assets of debtors who default on loans. UCC1 notices are typically printed in local newspapers, in an effort to publicly express a lender's intent to seize collateralized assets.
Delaware has enacted the 2010 amendments to Article 9 of the Uniform Commercial Code. Delaware enacted the 2010 amendments to Article 9 of the Uniform Commercial Code (2010 Amendments) when the governor signed HB 8Opens in a new window on .
UCC Filing Fee Schedule $50.00 (flat fee ? no additional charges apply) Submitted on the web.
The Delaware Secretary of State will accept a UCC financing statement on any prescribed IACA form; and on any other written form so long as the contents of that financing statement is sufficient, that is, the name and address of the debtor; the name and address of the secured party, or a representative of the secured ...
Therefore, since Delaware is the state of organization for so many business entities, adoption of UCC Article 12 in that state makes the UCC Article 12 choice of law rules available to those entities.
UCC Filings When a business is approved for secured financing, the lender or creditor files a UCC-1 Financing Statement with the secretary of state in the state where the entity is registered.
Every U.S. state and the District of Columbia have adopted at least part of the UCC (though it has not been adopted as federal law). Each jurisdiction, however, may make its own modifications (Louisiana has never adopted Article 2), and may organize its version of the UCC differently.