UCC applicable only state-wide, or internationally?

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UCC applicable only state-wide, or internationally?

Post  freeman814 on Sun Mar 10, 2013 10:36 pm

Yesterday, I read (on which site I don't recall) someone who was suggesting that the UCC information (sorry, I don't know the correct terminology yet) is only applicable by state and the the idea that the same rules apply planet-wide is rediculous. Can someone offer more clarification about this?

Thank you!

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Re: UCC applicable only state-wide, or internationally?

Post  Marbolot on Sun Mar 10, 2013 10:56 pm

Quoted from http://www.ibcf.com/fullnews.php?id=53:

UCC Filings - Location of Foreign Debtor under Revised Article 9.

Under Revised Article 9 of the Uniform Commercial Code, a
creditor/secured party is able to record a security interest against a
foreign entity (non-US) within the US, when the jurisdiction of the
debtor’s place of business (if only one place) or chief executive office
(if more than one place) does not have a comparable security interest
recording system. § 9-307(a)-(c).

When the foreign jurisdiction does not have such a recording system and
the debtor has a place of business/chief executive office in the United
States, the location of the debtor, and the location of the recording,
is the place of business/chief executive office. Where no US place of
business/chief executive office exists, the location of the debtor is
the District of Columbia.
§ 9-307(c). When the debtor is registered in a
State within the US, that state is the debtor’s location. § 9-307(e).

See also: http://apps.americanbar.org/buslaw/newsletter/0043/materials/pp2.pdf

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Re: UCC applicable only state-wide, or internationally?

Post  freeman814 on Mon Mar 11, 2013 12:01 am

Wow. Thank you. Any chance you could summarize that in words that I can grock? I have such a hard time wrapping my head around what you just said, even though I know it was probably helpful!

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Re: UCC applicable only state-wide, or internationally?

Post  Marbolot on Mon Mar 11, 2013 1:13 am

I didn't write that. I only quoted from another source. I chose that source because it goes to explain why the OPPT trustees filed their UCC documents in the Washington, DC, Recorder of Deeds office, which you can access by creating your own free account here: https://gov.propertyinfo.com/DC-Washington/#. The OPPT trustees have said that the DC Recorder of Deeds is an international UCC portal, whereas the 50 state UCC filing registries have national status only.

Also, in answer to your original question, note that the Courtesy Notice contains this paragraph that invokes any and all international equivalents (to the UCC).
Government Charters Cancelled: (Refer: DECLARATION OF FACTS: UCC Doc # 2012127914 Nov 28 2012)
“...That any and all CHARTERS, inclusive of The United States Federal Government, UNITED STATES, “STATE of ...", Inclusive of any and all abbreviations, idem sonans, or other legal, financial or managerial forms, any and all international equivalents, inclusive of any and all OFFICES, inclusive of any and all OFFICERS, PUBLIC SERVANTS, EXECUTIVE ORDERS, TREATIES, CONSTITUTIONS, MEMBERSHIP, ACTS, and any and all other contracts and agreements made thereunder and thereby, are now, void, worthless, or otherwise
cancelled, unrebutted
; .
..”

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