The PEB, a joint committee of ALI and the Uniform Law Commission, discourages non-uniform amendments or additions to the Uniform Commercial Code (UCC) by the states, assists in attaining and maintaining uniformity in state statutes governing commercial transactions, and monitors the law of commercial transactions for needed modernization or other improvement.
From time to time, the PEB issues Commentaries and Reports to provide guidance in interpreting and resolving issues raised by the UCC.
Recent PEB Commentaries and Reports
PEB COMMENTARY NO. 28: COLLATERAL DESCRIPTION FOR INVESTMENT PROPERTY (JANUARY 2024)
Draft PEB Report on Choice-of-Law Issues Under 2022 Uniform Commercial Code Amendments (November 2023)
PEB REPORT: APPLICATION OF UCC SECTIONS 9-406 AND 9-408 TO TRANSFERS OF INTEREST IN UNINCORPORATED BUSINESS ORGANIZATIONS (December 2022)
PEB COMMENTARY NO. 27: INJUNCTION AGAINST A NONCOMPLYING DISPOSITION UNDER SECTION 9-610 OF THE UCC (DECEMBER 2022)
Draft PEB Commentary: Buyer in Ordinary Course of Business (December 2022)
PEB COMMENTARY NO. 26: INDICATION OF COLLATERAL IN A FINANCING STATEMENT (AUGUST 2022)
PEB COMMENTARY NO. 25: ROLE OF SECTION 1-305(B) IN SUPPORTING ENFORCEMENT OF RIGHTS AND OBLIGATIONS (AUGUST 2022)
PEB COMMENTARY NO. 24: SCOPE OF ARTICLE 9 CHOICE-OF-LAW RULES REGARDING CHARACTERIZATION OF TRANSACTIONS (AUGUST 2022)
Draft PEB Commentary: Proceeds of Collateral (June 2021)
Draft PEB Commentary: Sections 9‑309 and 9-322(a)(1) (March 2021)
Draft PEB Commentary: Sections 9‑203(b)(2) and 9‑318 (March 2021)
PEB Commentary No. 23: Protected Series Under Uniform Protected Series Act (February 2021)
PEB Commentary No. 22: STATUS OF A DISPOSITION UNDER UCC SECTION 9-610 IF THE TRANSFEREE DOES NOT ACT IN GOOD FAITH (AUGUST 2020)
PEB COMMENTARY No. 21: USE OF THE TERM “ASSIGNMENT” IN UCC ARTICLE 9 (MARCH 2020)
PEB Commentary No. 20: Consignments (January 2019)
PEB Commentary No. 19: Hague Securities Convention (April 2017)
PEB Commentary No. 18: Highland Capital Case (July 2014)
Revised UCC Section 4A-108 (February 2013)
PEB Commentary No. 17: Limited Liability Partnerships under the Choice of Law Rules of Article 9 (June 2012)
PEB Report on Application of the UCC to Selected Issues Relating to Mortgage Notes (November 2011)
PEB Commentary No. 16: Sections 4A-502(d) and 4A-503 (July 2009)