Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Common Questions on the UCC3 Change Statement Form

July 29, 2011 UCC

In order to fend off challenges to their priority position, creditors must keep their UCC filing information accurate and up-to-date. Secured parties accomplish this by filing the appropriate amendment document (aka UCC3 or Change Statement). In this blog post, we answer some common questions on how to properly complete the UCC Financing Statement Amendment Form. Which file number do I list in Box 1a? In this section, the UCC filer inputs…READ MORE

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What Collateral Language Should I Use on my UCC Financing Statement?

July 22, 2011 UCC

One of the most common questions we get from customers and prospects is, “What collateral language should I use on my UCC filing to make sure we’re protected?” First Corporate Solutions customer service account managers encounter a lot of UCC Financing Statements and see a variety of different collateral statements included on UCC documents. In spite of this experience, the above is a question we really just can’t answer. The collateral…READ MORE

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Bad Corporate Standing: What is it? How do I fix it?

July 15, 2011 Corporate

There are countless occasions in which a person could be asked to supply a certificate of good standing for their business, or where a lender or attorney acts to obtain one. Two of the most common scenarios are to register or qualify a company to transact business in another state, and to open a business banking account. A good standing certificate verifies that an entity is authorized to transact business in a given jurisdiction and certifies…READ MORE

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Additional Resources for Information on UCC & Corporate Due Diligence

July 08, 2011 UCC, Corporate, Due Diligence

We try to cover a wide range of topics on the First Corporate Solutions blog. Our approach is to identify the questions we hear customers and prospects pose most frequently and address those areas of confusion proactively on the blog. This week we respond by sharing some additional information and resource outlets regarding UCC & corporate due diligence. State and County Websites When you need to perform a search or submit a filing…READ MORE

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