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Brave New World: Protocol After Article 9 Transition Period

The Commercial Record

October 27, 2006

Authors: Carolyn J. Cavolo

It has been a long road through the transition period and into the era of revised Article 9 of the Uniform Commercial Code (UCC). Understanding of, and compliance with, the transitional rules has been of great importance, since failure to comply resulted in the loss of perfection or priority of existing security interests. Banks and the professionals who represent them, however, will be happy to know that the new rules - as outlined here by La Tanya Langley and Carolyn Cavolo - are, in some ways, simpler and safer.

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