TBMA Submits Comments to the New York State Legislature on Rules Governing the Security Interests of Peronal Property

The Bond Market Association (TBMA)* provides comments to the New York State Assembly and the New York State Senate urging the prompt adoption in New York State of Revised Article 9 of the Uniform Commercial Code.TBMA believes that adoption of Revised Article 9 in New York Statewould promote efficiency in financial and commercial transactions generally, and in the debt capital markets in particular. By updating and clarifying rules governing the creation, maintenance and perfection of security interests in personal property, adoption of Revised Article 9 will facilitate streamlined and more legally certain commercial sales and financing transactions, upon which a wide range of individuals and businesses rely.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.