WHY THE UCC1 FILING?
Short Explanation of the UCC1 Financing Statement
The first question most people ask me is why must I file my UCC1 Financing Statement?
Below is a short explanation of how the Uniform Commercial Code (UCC) was created and
why.
Around the time of the war between the United States and the southern states of the
American union, the United States was busy putting together a plan that would increase the
jurisdiction of the United States. This plan was necessary because the United States had no
subjects and only the land ceded to it from the states, ie. the District which was only ten
miles square and such land as was necessary for forts, magazines, arsenals, etc.
WHY THE UCC1 FILING
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