The Uniform Law Commission and the American Law Institute approved revisions to Uniform Commercial Code, Article 9. It is up to each state to determine whether to adopt the revisions – with a recommended adoption date of July 1, 2013; yet, roughly one half of the states have not yet enacted legislation adopting the revisions. Where do the states in which you do business fall?
Link to information:
http://www.uniformlaws.org UCC Article 9 Amendments (2010)