With
certain exceptions such as aircraft and ships, the
subject of collateral is not primarily a federal issue but is dealt with in Article 9 of the Uniform
Commercial Code
Types
of collateral not covered by Article 9 include:
Real property
Non-commercial tort claims
Insurance policies
Security interests governed by federal law (an
example of this is a security interest in an aircraft or ship)
Types
of collateral covered by Article 9 include:
Money
Deposit accounts
Goods, including inventory, farm products,
consumer goods and equipment
Instruments
Securities / investment property
Chattel paper
Documents
Letter of credit rights
Accounts including health care insurance
receivables
For
consumer oriented lending issues, see topic
prior procedures