HONGKONGDIR

HOMECompaniesDictionaryFAQs

Home » Dictionary » Lending&Credit » UCC-1 Statement

UCC-1 Statement

Definition
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.

Nearby Terms
Similar companies
Copyright © 2013 hongkongdir.com All Rights Reserved.
Provides public information about companies in the Hong Kong.