UCC-1 Statement

UCC-1 Statement

A statement filed for personal property used as collateral on a loan. The statement derives its name from the Uniform Commercial Code (UCC), which requires its filing.
References in periodicals archive ?
In addition to the segregation requirement and payment trigger, the seller must provide notice to all that it is selling on consignment by filing a UCC-1 statement with the secretary of state for the state in which the buyer is organized or incorporated.