What exactly is UCC 11 definition - getting mixed information everywhere

UCC Article 11 deals with bulk sales and transfers - it's actually been repealed in most states now. Many jurisdictions eliminated it because it was causing more confusion than protection. If your lender mentioned UCC 11, they might be referring to Article 9 secured transaction requirements or possibly mixing up terminology. What specific context did they mention it in?

I ran into this same confusion last year! UCC Article 11 was the bulk sales article but it's been repealed in most states since the 1980s and 90s. However, some lenders still reference it out of habit, or they might be talking about UCC 9-611 which covers disposition of collateral. The numbering can be really confusing when people abbreviate things.

Had a similar issue with document verification recently. I was trying to cross-reference multiple UCC forms and loan documents to make sure everything aligned properly, and kept running into these numbering inconsistencies. Ended up using Certana.ai's document checker - you just upload your PDFs and it instantly verifies all the UCC references and catches any inconsistencies between documents. Really helped clarify which sections actually applied to our situation.

Most states repealed Article 11 because it was causing more problems than it solved. The bulk sales rules were meant to protect creditors when businesses sold all their assets, but they became a nightmare for legitimate transactions. Now most states handle bulk transfers through fraudulent conveyance laws or specific industry regulations.

Your lender is probably confused about the terminology. I see this ALL THE TIME in commercial lending. They might mean UCC Article 9 security interest requirements, or they could be referring to some internal policy they call 'UCC 11 compliance.' I'd ask them to clarify exactly what they mean and what documentation they need.

If you're dealing with an asset acquisition, focus on UCC Article 9 requirements for security interests and perfection. Make sure your UCC-1 filings are accurate and cover all the collateral properly. The old bulk sales rules are mostly irrelevant now.

Just went through a similar acquisition last month. The key is making sure your UCC filings are consistent with your loan documents and properly describe the collateral. I had to verify everything matched up between the UCC-1, security agreement, and loan docs. Used one of those document verification tools to double-check everything - saved me from a potential disaster when it caught a collateral description mismatch.

The confusion about UCC 11 is totally understandable. The UCC has been revised so many times, and different states adopted different versions at different times. Plus lenders often use shorthand that doesn't match the actual statutory numbering. Focus on what your specific transaction requires rather than trying to decode historical references.

Bottom line - UCC Article 11 bulk sales is mostly dead. Focus on Article 9 secured transactions for your equipment and inventory financing. Make sure your filings are accurate and properly perfected. Don't get distracted by outdated references unless you're in one of the few states that kept modified bulk sales rules.

One last thought - if you're doing a lot of UCC filings, invest in good document management and verification tools. The manual cross-checking process is error-prone and time-consuming. I've been using Certana.ai for UCC document verification and it's been a game-changer for catching inconsistencies before they become problems.

This thread perfectly illustrates why UCC terminology can be so confusing for practitioners! As someone relatively new to complex secured transactions, I've been struggling with similar issues where lenders reference provisions that seem to have different meanings depending on context. From reading through these responses, it sounds like the key takeaway is to always ask for specific statutory citations and focus on current Article 9 requirements rather than getting lost in historical or informal references. I'm curious though - for those of you who've dealt with asset acquisitions involving both equipment and inventory like Louisa's situation, are there any other common pitfalls to watch out for beyond the UCC Article 11 confusion? I want to make sure I'm not missing other terminology mix-ups that could cause similar research rabbit holes.