The revised article 9 of Uniform Commercial Code

The revised article 9 of the Uniform Commercial Code of the United States of America deals with the creation, perfection, and priority of security interests in personal property including accounts receivables and intangibles. Though securitization is not a "security interest" as traditionally understood, yet the UCC article includes provisions relating to securitization.

As such, securitisation transactions are affected by the new article. In general, analysts believe that the new article is favourable for securitisation transactions.

To provide a comprehensive guide on the revised article 9, we provide these significant links:

• An excellent resourcebase on Article 9 – has several articles, including some on securitization
• A dedicated website on article 9
• AN INTRODUCTION TO REVISED UCC ARTICLE 9 by Steven 0. Weise, ABA advisor to the Drafting Committee Los Angeles : a fairly detailed article with impact of article 9, on several transactions including securitisations
• Article by rating agency Standard and Poor's on the impact particularly on ratings requirements, including models of representations and warranties clauses.
• The Impact on Securitization of Revised UCC Article 9 Steven L. Schwarcz: a scholarly article by an accomplished legal expert on securitisations (1999)
• An Easier Approach to Perfecting Security Interests in Securitization Transactions (2001) by Doneene Keemer Damon, Esq., Richards, Layton & Finger, P.A.
• Yet another article