Delaware Division of Corporations – Limited Staffing Event on March 29th
March 08, 2019
On Friday, March 29 an Employee Recognition Event is planned for employees of the Delaware Division of Corporations. The 4-12 shift will be working 12 Noon to 8 P.M. and the following changes will be in effect:
All 30 Minute and Priority 1 (one-hour service) must be received by 6 P.M.; Priority 2 (two-hour service) must be received by 5 P.M. All other cut-off times will remain unchanged.
State Only Lien Monitoring? It’s Risky
March 01, 2019
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
Are All API For UCC Alike?
February 22, 2019
UCC, 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 and it is now another technology driven differentiator added to their UCC due diligence packages.
Much like how UCC portfolio managers and search engines vary in effectiveness and efficiency,…READ MORE
Find Missing Liens Using Broad-Based Search Logic
February 08, 2019
UCC, Online UCC System, Reduce Financial Risk
You have many options to perform a UCC lien search. There are certified searches that come directly from the filing office, state direct database searches that are available on a state’s website, and proprietary search systems that private service companies build and maintain. One of the primary benefits of using the proprietary search system of a service company is the use of broad-based search logic.
What is broad-based name searching?
Equipment Finance and PMSI
February 01, 2019
UCC, Online UCC System, Due Diligence
Equipment finance or leasing is a lending type that specializes in lending on specific collateral. These companies tend to specialize in financing industries like farm equipment, medical and dental equipment, freight, and other industrial equipment.
One product that is unique to this industry is purchase money security interest packages, or PMSI. A PMSI filing will allow a lender to take a priority position on a specific piece of equipment…READ MORE
Delaware Corporations: Franchise Taxes & Annual Reports due March 1st, 2019
January 25, 2019
For-profit and nonprofit corporations in Delaware should be on the lookout for notices from the Delaware Division of Corporations for franchise taxes and annual reports due for the 2018 tax year. Not receiving this notice does not exempt you from filing and paying by the due date. Following the 2017 amendments to Title 8 Section 503 many corporations have been left with questions. We’ve assembled a list of facts to consider during…READ MORE
Determine Your Corporate Name Nationwide (Part II)
January 10, 2019
Corporate, Due Diligence, Tips
Earlier this week we discussed Corporate Name Availability in more detail. Today we share some tips on Name Reservation vs. Name Registration.
Generally a document and filing fee submitted to a Secretary of State office, or just a fee paid. A Name Reservation can hold your name for a term that can vary from 30 to 180 days depending on the state. If your business plans experience a delay, most states will allow you to re-reserve…READ MORE
Determining Corporate Names Nationwide (Part I: Name Availability)
January 08, 2019
Perfecting your registration or qualification with all Secretary of State Offices under the same name is important for many reasons. Most companies want name consistency in all the states they are registered or qualified to do business. Name consistency in each state keeps contracts, business cards, licenses, etc. uniform so that there are no exceptions or variations from state to state.
Depending on the states and timeline for registering…READ MORE
Legislation Effective January 1st, 2019
January 03, 2019
For any questions please contact your account manager or call 800.406.1577.
Alabama - HB72
Alabama Partnership Act by specifying the procedures for formation, powers,
governance, and dissolution available to LLLPs, LLPs, foreign LLLPs, and
foreign LLPs that conduct business in the state.
California - SB920
authorization for persons licensed to engage in the practice of engineering,
land surveying, or…READ MORE
New Secretary of State Tools Encourage California Entrepreneurs
December 28, 2018
bizfile California, an online business entity document filing and search platform run by the Secretary of State (SOS), has expanded a lot over the past year. Most notably, it now allows online filing of trademarks, service marks, and Limited Liability Companies (LLCs) formations. Holding true to their commitment to entrepreneurs, the SOS most recently released the ability to terminate LLCs online.
HERE to access the new LLC Termination…READ MORE