UCCAPT Meaning and
Definition
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UCCAPT refers to the Uniform Commercial Code (UCC) Article 9 Collateral Priority and the Texas (Tx) Finance Code. It is a legal acronym that stands for "Unsecured Credit Card Accounts Pledged to Third-Party."
In the context of the UCC, UCCAPT specifically relates to collateral priority associated with unsecured credit card accounts that have been pledged to a third party. It is a legal provision that governs the rights and interests of creditors who have a security interest in such accounts.
Under UCCAPT, when a debtor has pledged their unsecured credit card accounts to a third party as collateral, the third party may have certain rights and privileges in case of default, such as the ability to repossess or sell the accounts to satisfy the debtor's obligations.
In Texas, the UCCAPT provision is also found within the Finance Code, which is a comprehensive set of statutes regulating various aspects of finance and lending in the state. Texas law recognizes UCCAPT as a means to secure a loan using unsecured credit card accounts. It establishes rules for perfecting, maintaining, and enforcing security interests in these accounts.
Overall, UCCAPT is a legal concept that provides a framework for establishing and enforcing the priority of security interests in unsecured credit card accounts pledged to a third party, both at the national level through the UCC and in the state of Texas through the Finance Code.
Common Misspellings for UCCAPT
- yccapt
- hccapt
- jccapt
- 8ccapt
- 7ccapt
- uxcapt
- uvcapt
- ufcapt
- udcapt
- ucxapt
- ucvapt
- ucfapt
- ucdapt
- ucczpt
- uccspt
- uccwpt
- uccqpt
- uccaot
- uccalt
- ucca-t
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