Uniform Commercial Code (“UCC”)
UCC is an abbreviation for the “Uniform Commercial Code,” which governs the transfer of security interests in personal property pursuant to state law.
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Financing Statement
Another name for a UCC form, filed in the state and/or county where the security for the repayment of the Bonds is located or the transaction is taking place, which may be required to perfect a Security Interest in certain property and revenues.
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Non-Callable Bond
A bond that cannot be called for optional redemption by the issuer prior to its stated maturity date.