the Official Comments of the UCC Permanent Editorial Board (PEB).The primary sources for UCC research are: Articles 10 and 11 contain provisions for effective dates, repeals and transitional matters.
Secured Transactions (Revised Article 9).Īrticle 1 of the Code contains a set of general provisions equally applicable to all subsequent articles.Investment Securities (Revised Article 8) and.Documents of Title (Revised Article 7).Bulk Sales, previously known as Bulk Transfers (Revised Article 6).Bank Deposits and Collections (Amended Article 4).Negotiable Instruments, previously known as Commercial Paper (Revised Article 3).The rules for each of the transactional areas covered by the UCC are collected into separate parts called an "Article." Each Article is then arranged systematically as consecutively numbered parts based upon subtopics.Īs of this guide's last update, the types of transactions included within the Code are: Currently, the UCC (in whole or in part) has been enacted, with some local variation, in all 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands. The UCC is a model code, so it does not have legal effect in a jurisdiction unless UCC provisions are enacted by the individual state legislatures as statutes. Once a draft is endorsed, the Uniform Law Commissioners recommend that the states adopt these rules. The revision process may result in several different revisions of the original draft.
These quasi-public organizations meet and decide whether to endorse the drafts or to send them back to the experts for revision. The Commissioners are all attorneys, qualified to practice law, including state and federal judges, legislators and law professors from throughout the United States and its territories. The UCC text and draft revisions are written by experts in commercial law and submitted as drafts for approval to the National Conference of Commissioners on Uniform State Laws (referred to as the Uniform Law Commissioners), in collaboration with the American Law Institute. The Uniform Commercial Code (UCC), a comprehensive code addressing most aspects of commercial law, is generally viewed as one of the most important developments in American law.
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