Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Some Transactions May Require Filing UCC’s in Multiple Locations

UCC

When Revised Article 9 (RA9) went into effect back in 2001, it dramatically streamlined the UCC filing process. Prior to RA9, the filing location for UCC Financing Statements was based on the location of the collateral, not the location of the debtor as it is today. As a result, creditors routinely had to file multiple UCC Financing Statements in order to perfect their security interest. There were even so-called dual-filing states that…READ MORE