<P> Article 9 governs security interests in personal property as collateral to secure a debt . A creditor with a security interest is called a secured party . </P> <P> Fundamental concepts under Article 9 include how a security interest is created (called attachment); how to give notice of a security interest to the public, which makes the security interest enforceable against others who may claim an interest in the collateral (called perfection); when multiple claims to the same collateral exist, determining which interests prevail over others (called priority); and what remedies a secured party has if the debtor defaults in payment or performance of the secured obligation . </P> <P> Article 9 does not govern security interests in real property, except fixtures to real property . Security interests in real property include mortgages, deeds of trusts, and installment land contracts . There may be significant legal issues around security interests in Bitcoin . </P> <P> The Model Tribal Secured Transactions Act (MTSTA), a model act tailored to provide Native American tribes with a legal system to govern secured transactions in Indian country, was derived from the UCC, primarily Article 9 . </P>

In 1990 revised article 3 of the ucc was developed which now has been adopted by all the states