During "Uniform Commercial Codes: Bringing Business to Indian Country", a conference on January 15, 2013, sponsored by The Federal Reserve Banks of Minneapolis, Kansas City, and San Francisco and the U.S. Department of the Interior’s Office of Indian Energy and Economic Development, Susan Woodrow of the Federal Reserve Bank Minneapolis/Helena Branch made this presentation. She presents a comprehensive overview of the Uniform Commercial Code (UCC) its 12 Articles and explains the common barriers to business that many Indigenous entrepreneurs face. Susan walks through how to understand individual tribe's current legal environment for secured transactions, including options for UCC filing systems under tribal law, the Model Tribal Secured Transactions Act, and how to develop and improve your tribe's secured transactions environment.
Uniform Commercial Codes: Bringing Business to Indian Country. Tribal Secured Transactions Laws: A Working Forum
The Model Tribal Secured Transactions Act (MTSTA) is based on the Uniform Commercial Code's (UCC) Article 9 and provides a legal framework for promotion of private business via secured transactions. A secured transaction occurs when a loan is issued and personal property, not real estate, is used…
This Implementation Guide and Commentary to the Model Tribal Secured Transactions Act (hereinafter “Act” or “MTA”) drafted by the National Conference of Commissioners on Uniform State Laws (“NCCUSL”) and the Federal Reserve Bank of Minneapolis was developed for three purposes: (1) to assist tribal…