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what is article 9 certification

Date : 13-03-2023

Article 9 certification refers to the certification process required by some states in the United States for individuals who want to become a secured party under Article 9 of the Uniform Commercial Code (UCC). Article 9 of the UCC governs secured transactions, which are transactions where a borrower pledges collateral to a lender to secure a loan.

To become a secured party under Article 9, an individual must file a UCC-1 financing statement with the appropriate state agency. Some states also require individuals to obtain Article 9 certification before they can file a UCC-1 financing statement.

Article 9 certification typically involves taking a course or passing an exam that covers the provisions of Article 9 of the UCC, as well as the requirements for filing a UCC-1 financing statement. The certification process is intended to ensure that individuals who become secured parties have a basic understanding of the law and procedures governing secured transactions.