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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 as collateral. The MTSTA is an important and infuential piece of legislation which supports the growth of entrepreneurship by providing an effective method for financing and securing business transactions.
Additional Information
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Citation
National Conference of Commissioners on Uniform State Laws (2005). Model Tribal Secured Transactions Act. National Conference of Commissioners on Uniform State Laws. Chicago, IL.
