OBS_VALUE: Most Canadian provinces have adopted comprehensive personal property security legislation (PPSA)resembling Article 9 of the United States Uniform Commercial Code (UCC). The PPSA regulates thecreation, perfection and enforcement of a security interest in a debtor’s assets, and creates a system for determining the priority of competing interests in collateral. The act applies to any transaction that createsa security interest in personal property, regardless of the form of document used to grant the interest