Many loans extended by commercial banks are secured by personal property, which is governed by Revised Article 9 of the Uniform Commercial Code (UCC). The UCC governs secured transactions by taking most kinds of collateral for loans.
Commercial/Consumer Lenders and Loan Administrators must understand Revised Article 9 as it relates to collateral attachment and perfection of personal property. We'll provide an overview of the UCC and focus on the most relevant factors bankers and administrators need to know to perform routine duties and protect the bank's security interests in assets taken as collateral. We'll focus on practical application of UCC rules.
Leave with an understanding of how to document, close and record secured transactions covered by Revised Article 9 of the UCC. Get good working knowledge for managing the most common commercial and consumer secured transactions governed by Revised Article 9.