Delaware Offers Preclearance Review of Corporate Documents to Reduce Rejections
November 14, 2019
Corporate, Due Diligence, Tips
The State of Delaware offers Preclearance Review of Corporate Documents to assist filers through the corporate filing process and reduce the number of filings that do not meet required criteria. Various preclearance corporate filing services are offered and their official review procedures are a convenient way to avoid potential processing errors. This service assures that you have accurately drafted your corporate document before formally…READ MORE
Are You Frustrated by Missing Documents at Your Closings?
November 07, 2019
UCC, Corporate, Due Diligence, Tips
Familiar with that feeling? Of course we’re all looking for ways to improve efficiency and, on this topic, there are some steps you can take that may help save time and streamline processes so you’re ready when it’s time and you’re not frustrated by missing documents at your closings.
Don’t wait until the last minute. This seemingly simple tactic is vital to assuring you have the documents you need when you need them. If you…READ MORE
California Escrow Association Conference Recap 2019
October 31, 2019
First Corporate Solutions (FCS) is proud to have exhibited once again at the 64th annual California Escrow Association Conference hosted at the Hilton Costa Mesa on October 10-12.
The conference featured the installation of incoming President Diane Boudreau-Tschetter and the new 2020 officers, numerous break out sessions and education seminars, and a moving rendition of the Star Spangled Banner. It also featured a lively legislative update…READ MORE
Private Agreements and Registered Agent Requirements
October 17, 2019
Corporate, Registered Agent
Many agreements, such as contract and loan agreements, require the appointment of a Registered Agent to receive Service of Process or a notice from one party to another, and to deliver the documents to the various parties as soon as possible. Service of Process under a loan agreement and other legal contracts are critical correspondence that should be handled by a professional Registered Agent to ensure the documents are expeditiously delivered…READ MORE
API for UCC–Are They All The Same?
October 03, 2019
UCC, Online UCC System, Due Diligence, Reduce Financial Risk
In a word, no.
The emergence of API for UCC, with its increased efficiency and enhanced compliance capability, has already occurred and the implementation is spreading. UCC data and portfolio management providers have moved quickly to develop API for UCC, making it another technology driven, value added differentiator to their UCC due diligence service packages.
Much like how UCC portfolio managers and search engines vary in effectiveness…READ MORE
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
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
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
Top 5 Filing Mistakes on UCC1 Financing Statements
August 29, 2019
A Secured Party must file their UCC1 Financing Statement quickly and correctly In order to perfect their security interest. Inaccurate, incomplete or untimely filings can prove costly for lenders as they open the door for secondary parties to claim a priority position.
1. Failing to file under the exact legal name
A UCC filing must properly identify the debtor to effectively perfect a security interest. To satisfy this requirement,…READ MORE
Legislation Effective September 1st
August 21, 2019
House Bill 1159
Relates to acknowledgment of written instruments on behalf of limited liability companies.
Senate Bill 1258
Provides for prosecution under the Penal Code of LLCs and other entities governed by the Business Organizations Code.
House Bill 3609
Provides for business entities to file assumed name certificates only in the office of the Secretary of State and repeals the requirement to also file in county clerk…READ MORE