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Summary Chart [i] (2016)

handle is hein.nccusl/nccpubtsta4031 and id is 1 raw text is: PROPOSED AMENDMENTS TO MODEL TRIBAL SECURED TRANSACTIONS ACT Substanitive Amnendmients Sectioi(s) Nature of Aime ndmenSt Reasoni For Cliige 9-106(a)(6), (51)(B), Defines and brings within the Act's scope Agricultural liens (a type of statutory lien) 9-110(a)(2), 9-111 (a), (b), agricultural liens, were omitted from the original Act (even 9-301(2)(C), 9-308(b), (c), though included within UCC Article 9) based 9-310(a), (c), 9-315(a)(1), on the determination that few or no tribes had 9-317(a), (c), 9-318(k), 9-402, ag lien statutes. Having now been apprised 9-501(a), 9-502(a), (d) (h), that several tribes have enacted ag lien 9-601(a)(1), (d), (e), 9-606, statutes, the Committee decided to bring 9-608(a), 9-615(a)(1), (f), Article 9's rules on ag liens into the Act. 9-617(c), 9-620(d)(3) 9-106(a)(45B), (49A), 9-316(d) Defines publicly searchable record and Moves the definition and conforms the Act to registered organization. UCC Article 9. 9-106(a)(57B), 9-202(d), Defines supporting obligation, provides that These provisions, which are included in UCC 9-308(d) a security interest in collateral automatically Article 9, were omitted from the original Act, attaches to a supporting obligation, and presumably out of a desire for simplicity. The provides for automatic perfection for the Committee decided to bring them within the security interest in a supporting obligation if Act. the security interest in the supported collateral is perfected.

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