UCC-1 Statement


A required filing under the Uniform Commercial Code used when a borrower claims personal property as collateral against a loan. Under the Code, the borrower must not dispose of the property without repaying the debt in full, because the loan provides the lender with a security interest in the property.

Use UCC-1 Statement in a sentence

The ucc-1 statement was a really cool thing to check out and I thought that things were going to go well.

​ Was this Helpful? YES  NO 9 people found this helpful.

You should make sure that you always give all the info needed when you are filling out your ucc-1 statement.

​ Was this Helpful? YES  NO 5 people found this helpful.

To take the loan from the bank, Barbara had to file a UCC-1 Statement so that she could use her car as collateral.

​ Was this Helpful? YES  NO 7 people found this helpful.

Show more usage examples...

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z