UCC-1 Law and Legal Definition
UCC-1 is an abbreviation for Uniform Commercial Code-1. It is a legal form that a creditor files to give notice that it has an interest in the personal property of a delinquent debtor . This form is filed in order to "perfect" a creditor's security interest by giving public notice that there is a desire to take possession of certain assets for repayment of a specific debt.
