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(A) Short Title. This chapter shall be entitled the Karuk Tribe’s “Secured Transactions Ordinance.”

(B) Purpose. The purpose of this chapter is to recognize that under the law of the Karuk Tribe (the “Tribe”), except as otherwise provided in this chapter, secured parties shall have the same rights with respect to collateral subject to the sovereign authority of the Tribe as would exist if all aspects of the security interest – including but not limited to its creation, attachment, perfection, and priority – had been governed by the California Uniform Commercial Code (“UCC”), without regard to the choice-of-law principles set forth therein. [Res. 16-R-119 § 1, 7/14/2016.]