Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Has the Broker subordinated its statutory first priority security interest in the Securities Account to the Lender’s security interest in the Securities Account?

September 25, 2014 UCC, Due Diligence, Revised Article 9

We're continuing our examination of control agreements for pledged securities accounts with guest blogger Bennett Cohen of the law firm Cohen, Salk & Huvard, P.C. See the introductory post here and the follow-up post, Is there adequate “control” language in the control agreement? Has the Broker subordinated its statutory first priority security interest in the Securities Account to the Lender's security interest in the Securities…READ MORE

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Do You Need Plain or Certified Copies of Corporate Documents?

September 23, 2014 Corporate, Due Diligence, Tips

When the time comes to order corporate documents (such as articles of organization, amendments/mergers, annual filings) from the state or county filing office, being prepared can save you money and effort. Once you know the reason you need the documents, you can choose either plain or certified copies. Knowing which will satisfy your business needs can help your ordering process. In this guide you'll learn about how a filing offices creates…READ MORE

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Is there adequate “control” language in the control agreement?

September 18, 2014 UCC, Due Diligence, Revised Article 9

We continue our examination of control agreements for pledged securities accounts with guest blogger Bennett Cohen of the law firm Cohen, Salk & Huvard, P.C. For more background on control agreements, see our introductory post here. Is there adequate "control" language in the control agreement? Some control agreements we reviewed failed to contain the necessary language required for the Lender to be deemed in "control" of the Securities…READ MORE

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Free eBook on Lien-Related Post Funding Due Diligence

September 16, 2014 Due Diligence, Reduce Financial Risk, Lien Monitoring

As a lender, you need to know immediately if your customer is experiencing financial distress that could result in bankruptcy or debtor default. In this FREE guide you will find: Top 5 Mistakes to Avoid on UCC Financing Statements What a Search to Reflect can do for you When to File Continuation Statements Lien Monitoring Programs Importance of Monitoring to Reveal Name Variations Download this free guide today!  READ MORE

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Examining Issues with Control Agreements for Pledged Securities Accounts

September 11, 2014 UCC, Due Diligence, Revised Article 9

We are pleased to welcome back attorney Bennett Cohen of Illinois law firm Cohen, Salk and Huvard, P.C. as a guest blogger! Over the next few weeks, Mr. Cohen will share his expertise on the topic of control agreements for pledged securities accounts.  Examining Issues with Control Agreements for Pledged Securities Accounts - Introduction Control agreements for pledged securities accounts come in all shapes and sizes, and it is necessary…READ MORE

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The Basics of Collateral Descriptions on UCC Financing Statements

September 04, 2014 UCC, Due Diligence, Tips

Figuring out how to describe the collateral on a UCC Financing Statement to best protect your interests can be confusing. In fact, one of the most common questions FCS hears from customers and prospects is "What collateral language should I use on my UCC filing to make sure we’re protected?" Bradley B. Clark answers that question and more in this webinar presentation.  READ MORE

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Assembly Bill 2416 [Update]

September 03, 2014 Legislation

From the California Escrow Association: CEA and CLTA have been strongly opposing AB 2416 (Stone).  AB 2416 was heard on the Senate Floor on Thursday, August 28, and failed, but was granted reconsideration, meaning it may come up for a vote again. Though we’ve heard about possible amendments underway, none that we are aware of would remove our concerns. Please see here for their original post.   READ MORE

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