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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Secured Party Liability for Failure to File Timely Terminations

September 26, 2019 UCC, Online UCC System, Due Diligence

Can a secured party be liable for failure to file timely finance statement terminations? According to Section 9-625 of the Uniform Commercial Code, yes. There can be secured party liability for failure to file timely terminations. But first, let’s take a step back. In Article 9-513, the section of the Uniform Commercial Code that regards Termination Statements, the below is found under subsection 9-513(b) to address how long a…READ MORE

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True Value of Customer Service

September 12, 2019 UCC, Corporate, Registered Agent, Online UCC System, Due Diligence

Want to talk to a live person…need to talk to a live person? How many are you required to speak with, and repeat your story, before you finally get want you want and need (hopefully)? Perhaps you can login to a website and hunt answers to your questions, utilizing help desks and live chats, very useful depending on the issues’ complexities, or lack thereof. But even for login credential relationships, the true value of Customer…READ MORE

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Registered Agent, Process Agent, and Special Agency–What are they?

September 05, 2019 Corporate, Registered Agent

Having an agent to receive service of process (SOP) is not limited just to the formation or qualification of a business. Agents for SOP may be required in cross-border loan transactions or when registering with government agencies other than a Secretary of State or an equivalent special agency. Below we break down the different agent representation and their purposes. Companies forming or qualifying to do business are required to appoint…READ MORE

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