ARTICLE 9

An article under the Uniform Commercial Code (UCC) that governs secured transactions. Article 9 encompasses a wide variety of possessory liens and determines the legal right of ownership if a debtor does not meet his or her obligations.

In 2002, Article 9 was revised to substantially modernize and expand the scope of what can be used as collateral to include credit card receivables, electronic chattel paper, accounts receivable and business inventory.

Although Article 9 goes into great detail to incorporate the many loans secured by various types of collateral, there are still many disputes over who has ownership priority of an asset subject to a security interest transaction.

For example, suppose that George brings his computer to be serviced by Mike. Upon completing the repairs, George does not have the funds to pay Mike. In this case, Article 9 states that Mike may keep the computer until payment is received.

Статья 9 а)банк., фин., торг., амер. (статья Единообразного коммерческого (торгового) кодекса, которая регулирует движение документов, относящихся к кредитам под залог личной собственности) See: Uniform Commercial Code б) фин., бирж., банк., амер. (статья "Правила Эс-Экс" Комиссии по ценным бумагам и биржам, содержит все требования к финансовой отчетности банковских холдинговых компаний, включая примечания и дополнительные формы и перечни, которые необходимо заполнять для занесения в картотеку Комиссии по ценным бумагам и биржам и включения в годовые финансовые отчеты для акционеров)