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What Does UCC Mean and What are Liens?
The Uniform Commercial Code, or UCC, is a set of laws designed to make transactions secure and legal within the United States and would regulate any commercial transaction your business makes in Connecticut. Though it is not a federal law, the UCC has been adopted uniformly by every state (Louisiana hasn’t quite adopted every item but still trades under UCC laws).
UCC financing statements – also known as liens – are filed in connection with secured transactions and can be filed against any personal property located within the state, with some exceptions. You’d usually file a financing statement to secure payment of a business loan (or occasionally a debt). The personal property used against the lien is called collateral. You can file your UCC liens with the Secretary of the State filing office.
Personal property is any type of property that someone owns (except motor vehicles) that is not real property. Real property is land, buildings, and fixtures. Real property liens or mortgages are filed locally in Connecticut with the town clerk where the property is located.