SUPPLEMENT UPDATE: North Carolina Secured Transactions Under Article 9 of the Uniform Commercial Code: Forms and Practice Manual June 2025 (1.16)

by Edward C. Winslow III, Esq., Randall A. Underwood, Esq., S. Leigh “Bo” Rodenbough IV, Esq., Sabrina Y. Greer, Esq., and Sarah E. Morehouse, Esq.

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SUPPLEMENT UPDATE: North Carolina Secured Transactions Under Article 9 of the Uniform Commercial Code: Forms and Practice Manual June 2025 (1.16)

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Edward C. Winslow III, Esquire, Managing Partner in the Greensboro office of Brooks Pierce, represents business and corporate clients with an emphasis in the fields of banking and financial services. He attended the University of Montpellier in France and Davidson College before earning his J.D. at the University of North Carolina (high honors, Order of the Coif).

Randall A. Underwood, Esquire, a Partner in the Greensboro office of Brooks Pierce, practices primarily in the fields of banking, debt and equity finance, and real estate. He earned his B.S. at the University of North Carolina at Chapel Hill and his J.D. at the University of Virginia.

S. Leigh "Bo" Rodenbough IV, Esquire, also a Partner in the Greensboro office of Brooks Pierce, practices in the fields of commercial and business tort litigation, commercial real estate, and mergers and acquisitions. He earned his B.A. at the University of North Carolina at Chapel Hill and his J.D. at the University of North Carolina (high honors, Order of the Coif).

Sabrina Y. Greer, Esquire, is an associate with Brooks, Pierce, McLendon, Humphrey & Leonard, L.L.P. Born and raised in Greensboro, North Carolina, she received her bachelor’s degree from Brandeis University with highest honors and her law degree from the University of North Carolina School of Law with honors. She was admitted to the North Carolina Bar in 2022..

Sarah E. Morehouse, Esquire, is an associate with Brooks, Pierce, McLendon, Humphrey & Leonard, L.L.P. Raised in North Carolina, she received her bachelor’s degree from the University of North Carolina at Chapel Hill and her law degree from the University of Virginia School of Law. She was admitted to the North Carolina Bar in 2024.

Important features of this year's supplement include:

  • Updates on the 2022 amendments finalized by the American Law Institute and Uniform Law Commission regarding new UCC Article 12 (covering controllable electronic records) and its adoption in U.S. jurisdictions, including pending legislation in North Carolina regarding the same.
  • Choice-of-Law issues resulting from mixed adoption of Article 12 among the states.
  • New commentary regarding the definition of proceeds.
  • Expanded details on perfected and unperfected security interests in receivables and attachment to and priority in proceeds from the sale of such receivables.
  • New case law on the perfection of a security interest in manufactured homes.

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