Massachusetts Business Entity Law Clarified
July 12, 2018
Corporate, Litigation Research
In March 6, 2017 the Massachusetts (MA) Supreme Judicial court held that a MA director’s duty is owed solely to the corporation. However, the duties may be owed among shareholders in small corporations and when “a controlling shareholder who also is a director proposes and implements a self-interested transaction that is to the detriment of minority shareholders.”
The decision, which is a result of IBEW Local No. 129 v. Tucci, is…READ MORE
Three More Tips For Bulk Sale Escrow Officers In California
June 21, 2018
UCC, Due Diligence, Tips
With the Norcal Escrow Conference fast approaching, here's a repost of three MORE handy tips for Bulk Sale Escrow Officers in California.
We’ve been supporting Escrow Officers handling bulk sales for a quarter century, and over that period we’ve learned more than just a few things from our friends in the industry, and in this blog post we share three more tips for Bulk Sale Escrow Officers in California that we’ve learned and their…READ MORE
Secured Creditors and Unsecured Creditors: What’s the Difference?
June 14, 2018
UCC, Online UCC System, Due Diligence, Reduce Financial Risk
There are secured creditors and unsecured creditors. But what is the difference between secured creditors and unsecured creditors?
Secured Creditors are creditors that hold a lien on its debtor’s property, whether that property is real property or personal property. The lien gives the secured creditor an interest in its debtor’s property that provides for the property to be sold to satisfy the debt in cases of default. The secured…READ MORE
Free eBook: Ultimate Guide to Lien-Related Post Filing Due Diligence
June 07, 2018
UCC, Due Diligence, Lien Monitoring
As a secured party, you need to know immediately if your debtor is experiencing financial distress that could result in bankruptcy or debtor default. In this FREE eBook, we focus on lien-related post filing due diligence and what you can do as a secured party to maintain your perfected security interest. In it, you will find post filing due diligence insights regarding the below topics.
Top 5 mistakes to avoid on UCC Financing Statements
Three Tips For Bulk Sale Escrow Officers In California
May 31, 2018
UCC, Due Diligence, Tips
With the Norcal Escrow Conference fast approaching, here's a repost of three handy tips for Bulk Sale Escrow Officers in California.
We’ve been supporting Escrow Officers handling bulk sales for a quarter century, and over that period we’ve learned more than just a few things from our friends in the industry, and in this blog post we share three tips for Bulk Sale Escrow Officers in California that we’ve learned and their importance.
UCC Secured Party Representative Service – Explained
May 24, 2018
UCC, Online UCC System, Revised Article 9
UCC Secured Party Representative Service provides protection for secured lenders by using a representative’s name (instead of their own) in the Secured Party box on UCC Financing Statements.
Under Revised Article 9, UCC Section 9-502(a)(2), a financing statement must provide the name of the secured party or representative of the secured party. The Secured Party Representative Service key aspect is that the code allows “a representative”…READ MORE
International Factoring Association Conference Recap 2018
May 10, 2018
Lien Monitoring, Event
The International Factoring Association held its annual conference last week at The Fontainebleau Hotel in Miami, and First Corporate Solutions was proud to attend once again with friends, partners, familiar faces and new acquaintances.
The International Factoring Association conference continues to be the leader in providing educational and networking opportunities to the factoring community and this year’s event delivered again. Factors…READ MORE
When Is A Title Policy Unnecessary? Uninsured Title Products For Lenders
May 03, 2018
Due Diligence, Title Related Topics
Is an insured title product with a corresponding title policy always required for a lender’s purposes? Is it always required to pay that premium?
The answer is: it depends.
So when is an uninsured title product OK? When is a title policy unnecessary?
Lender title products usually come in three variables, depending on the lender’s risk considerations.
An “Update” product, which is just what it sounds like, an update…READ MORE
Registered Agent for Private Agreements
April 26, 2018
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
Lien Monitoring Only at the State? It’s Risky
April 19, 2018
UCC, Due Diligence, Reduce Financial Risk, Lien Monitoring
When evaluating lien monitoring programs, programs that are designed to monitor your Financing Statements for lien filings that can prime your perfected security interest, it is important to recognize that many states do not maintain records of Federal Tax Liens or Judgment Liens Attached to Real Property at the state-level filing office. Nevertheless, these liens have the potential to prime a perfected security interest.
That’s why,…READ MORE