In 1990, the Government of Alberta passed the Personal Property Security Act (PPSA) to govern dealings between creditors and debtors. This act modernized credit law in the province by amending or...
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In 1990, the Government of Alberta passed the Personal Property Security Act (PPSA) to govern dealings between creditors and debtors. This act modernized credit law in the province by amending or repealing several acts, some of which traced their origins back to the nineteeth century. The PPSA applies to many transactions in which creditors obtain an interest in a debtorís personal property to secure payment or performance of an obligation. The act simplified registration procedures for security interests by creating the Personal Property Registry.