Uniform Commercial Codes
The Model Tribal Secured Transactions Act (MTSTA) is based on the Uniform Commercial Code's (UCC) Article 9 and sets up a legal framework for promotion of private business through secured transactions. Secured transactions are loans in which personal property, other than real estate, is used as collateral. The MTSTA is a key element for the growth of entrepreneurship by providing an effective method for financing and securing business transactions.
For more guidance, refer to "Uniform Commercial Codes: Bringing Business to Indian Country" provided by Susan Woodrow of the Federal Reserve Bank Minneapolis/Helena Branch.
Click here to view a copy of the Model Tribal Secured Transactions Act.
Click here to view the Implementation Guide to the Model Tribal Secured Transactions Act.