Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

[Latest Update] 2010 UCC Article 9 Amendments Legislation

November 27, 2013 Legislation

As we noted in our October blog post, California governor Jerry Brown signed CA Assembly Bill 502, making California the latest state to enact the 2010 Amendments to Article 9 of the Uniform Commercial Code.  The new filing rules will go into effect on July 1, 2014. Only six states have not enacted the Revised Article 9 legislation with an effective date of July 1. 2013. The remaining six states are: Alabama Arizona New York Oklahoma Vermont California…READ MORE

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Free eBook on Purchase Money Security Interest (PMSI)

November 19, 2013 UCC, Corporate, Tips

First Corporate Solutions is pleased to present our eBook entitled Purchase Money Security Interests: Purchase Money Rules in Equipment and Inventory. Authored by Attorney Bennett L. Cohen of Cohen, Salk & Huvard, P.C., this eBook provides answers to all of your PMSI related questions including: How is a PMSI created? What obligations qualify as a PMSI? Does a PMSI in inventory prime a previosuly perfected interest in accounts? How…READ MORE

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eFiling UCC’s Not Always The Answer: Instances Where a Secured Party May File a UCC Manually Rather Than Electronically

November 07, 2013 UCC, Due Diligence

The last few years have seen a dramatic rise in the number of states that allow electronic filing (eFiling) of UCC documents. In fact, nearly every state now accepts UCC filings that are transmitted electronically in some way. In most cases, eFiling represents an improvement over traditional paper filing since eFiled documents are generally acknowledged quicker than paper filings and often incur a lower filing fee. However, there are a few…READ MORE

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