The Security Interest as another way to access credit: should we regulate it in Uruguay?
DOI:
https://doi.org/10.22235/rd24.2661Keywords:
credit, security interest, secured transactions, Anglo-saxon law, pledge without transfer of possessionAbstract
The Security Interest, thoroughly regulated under article 9 of the Uniform Commercial Code of the USA, allows debtors and creditors to engage in secured transactions, where a wide range of assets may serve as collateral, avoiding the risk of a debtor’s default, thus enhancing the provision of credit. This article analyses article 9 and highlights the simplicity of this institute, stressing the difficulties and required amendments that should be made to the Uruguayan Pledges Without Transfer of Possession Act (n.° 17228) of the year 2000, which only partially imported the security interest model.
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