Under the Uniform Commercial Code (UCC), a secured party can perfect its lien on certain of a debtor's assets by the filing of a UCC-1 financing statement.
Financing Statement Filed Without Debtors' Authorization
Under the Uniform Commercial Code (UCC), a secured party can perfect its lien on certain of a debtor's assets by the filing of a UCC-1 financing statement. However, Section 9-509 of the UCC provides that a party may file such a financing statement only if the debtor authorizes the filing: either expressly in an authenticated record or, more commonly, by executing a security agreement.
By
Rudolph J. Di Massa Jr. and Chad E. OdhnerThis premium content is locked for LawJournalNewsletters subscribers only
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