Definitions for "UCC-1"
A document that perfects a security interest in collateral when filed pursuant to Article 9 of the UCC and applicable state law. A valid UCC-1 must contain the names and mailing addresses of the secured party and the debtor. Article 9 has been revised so that the debtor no longer has to sign the UCC-1 in order for it to be valid.
A document which is placed on record with the Secretary of State or with the County Recording Office. The purpose of filling this document is to evidence the funding source's security interest in the client's personal property. This document is filed in the state or county in which the client's business is located.
A UCC document filed by a lessor informing the public that the filing party legally owns the equipment on lease.