New York Law Journal Publishes Article by Henry Morriello and Michael Karol on Article 12 of the UCC and Secured Finance

New York Law Journal, part of American Lawyer Media, published a timely article by Henry Morriello and Michael Karol, “Secured Finance Under Article 12 and the 2022 UCC Amendments.”  The piece, published on June 5, 2026, examines the impact of newly enacted Article 12 of the Uniform Commercial Code, which took effect in New York on June 3.

The article explores how the 2022 UCC amendments modernize commercial finance law for digital assets by introducing the concept of “controllable electronic records,” allowing secured parties to perfect security interests through control rather than filing and reshaping priority and risk considerations for cryptocurrencies, tokenized assets, and other electronic intangibles.

As the authors note:

“The long-awaited 2022 amendments to the Uniform Commercial Code (UCC), which become effective in New York on June 3, represent the most important modernization of commercial finance law in decades.”

The full article is available here.