Model Tribal Secured Transactions Act Law and Legal Definition

Model Tribal Secured Transactions Act was drafted by the National Conference of Commissioners on Uniform State Laws (NCCUSL) in 2005. It was later amended in 2006. This act is consistent with the core principles of Article 9 of the Uniform Commercial Code, establishing a substantive and procedural framework to provide certainty to secured transactions. The act is recommended for enactment by Native American tribal legislative bodies.