A set of statutes enacted by the various states to provide consistency among the states’ commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
Federal Law
means the Uniform Commercial Code prepared under the joint sponsorship of the American Law Institute and the National Conference of Commissioners on Uniform State Laws, and in effect in most States of the United States at the time of enactment of Pub 29 CFR 516.9
State Law
means the uniform commercial code, 1962 PA 174, MCL 440 Michigan Laws 487.11203, Michigan Laws 129.263, Michigan Laws 487.3103