Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

When Searching Legal Entities in California, Do You Need to Also Search the Officers, Members and Trustees?

April 16, 2015 Corporate, Revised Article 9 Something

This is a question that comes up in the due diligence process and is an important one to consider as you fulfill your lien and corporate search requirements when qualifying new candidates for loans and also as you monitor your perfected security interests going forward. When conducting a search on a legal entity, such as a Corporation, LLC or Trust, should a search be conducted on the officers, members and/or trustees? The answer depends…READ MORE

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Drawbacks of a Certified UCC Search – FCS Greatest Hits #6

December 18, 2014 UCC, Online UCC System, Due Diligence, Revised Article 9 Something

The final installment in our Greatest Hits blog series covers state certified UCC searches, aka UCC11s. There are times when you might want to request a certified search, they do serve a purpose. But, because of their oftentimes narrow search logics which can inhibit a searchers ability to uncover name variations, thorough due diligence typically requires utilizing a broad-based search solution that is designed to uncover and include similar…READ MORE

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Maximize UCC and Lien Search Results to Minimize Risk – FCS Greatest Hits #5

December 11, 2014 UCC, Online UCC System, Due Diligence, Revised Article 9 Something

As we continue the FCS Greatest Hits blog series, we want to zero in on a specific benefit resulting from conducting UCC searches with enhanced search logic (i.e., not strict  or certified searches) through a proprietary UCC search system—finding name variations. Learn how to cast a wide net and then whittle your search down to only the relevant results. Maximize UCC and Lien Search Results to Minimize Risk When conducting UCC and…READ MORE

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Benefits of a Proprietary UCC Database Search System – FCS Greatest Hits #4

December 04, 2014 UCC, Online UCC System, Due Diligence, Revised Article 9 Something

The FCS Greatest Hits blog series continues today with more details on the features and benefits of searching with a proprietary UCC search system. And if you're looking to see an online UCC search system in action, don't hesitate to contact us for a free demonstration. Benefits of a Proprietary UCC Database Search System Let's take a look at the benefits of using a proprietary database to perform state UCC searches. What is a Proprietary…READ MORE

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What is “Standard Search Logic” and what are the Model Administrative Rules? – FCS Greatest Hits #3

November 26, 2014 UCC, Legislation, Online UCC System, Due Diligence, Revised Article 9, Reduce Financial Risk Something

We would be remiss in our duties of posting our Greatest Hits of UCC searching without mentioning some of the great things the folks at IACA are doing to standardize the application of the Uniform Commercial Code. What is “Standard Search Logic” and what are the Model Administrative Rules? The amount of liens filed in a given state’s filing office can number in the millions making accuracy, and the ability to uncover name variations, …READ MORE

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Understanding the Limitations of State Direct UCC Online Searches & New Alternative Solution – FCS Greatest Hits #2

November 20, 2014 UCC, Online UCC System, Due Diligence, Revised Article 9, Reduce Financial Risk, Tips Something

We continue our Greatest Hits blog post series this week with "Understanding the Limitations of State Direct UCC Online Searches & New Alternative Solution," where we explain some of the drawbacks of using the state-provided UCC searching resources. Understanding the Limitations of State Direct UCC Online Searches & New Alternative Solution In addition to the broad-based name searching capabilities and reliable state-direct data…READ MORE

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Broad Based UCC and Lien Name Searching – FCS Greatest Hits #1

November 11, 2014 UCC, Online UCC System, Due Diligence, Revised Article 9, Tips Something

We have published a lot of material on the topic of UCC searching over the years. Effective UCC searching can save you time and money, so this topic has been popular among our readers. Today, we are starting a six part blog series on the nature of broad based searching and search logic as it relates to UCC searching. Enjoy our first post, and please remember that these blog posts are for educational purposes only; always consult your legal…READ MORE

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Does the control agreement govern if it conflicts with any of the customer agreements between Pledgor and Broker?

October 16, 2014 UCC, Due Diligence, Revised Article 9 Something

Attorney Bennett Cohen returns this week to continue his examination on control agreements for pledged securities accounts. This is part six in our eight part series on the topic of control agreements. To start from the beginning, please see the first post, Examining Issues with Control Agreements for Pledged Securities Accounts. Does the control agreement govern if it conflicts with any of the customer agreements between Pledgor and…READ MORE

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California Governor signs Assembly Bill 1858: Individual Debtor Name Safe Harbor

October 07, 2014 UCC, Legislation, Due Diligence, Revised Article 9 Something

For those managing personal property transactions in California, it is important to understand and be prepared for recent legislation that has been passed to provide a safe harbor for proper entry of individual debtor names when filing and searching for UCC Financing Statements. Effective January 1, 2015, California will join the majority of states in adopting legislation which governs the proper name identification of individuals. This…READ MORE

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Does the control agreement go too far in limiting the potential liability of the Broker?

October 02, 2014 UCC, Due Diligence, Revised Article 9 Something

We're back this week with more in our series from attorney Bennett Cohen on control agreements for pledged securities accounts. This is the fourth post in our series, so if you need a refresher please visit his introductory post, Examining Issues with Control Agreements for Pledged Securities Accounts. We've reviewed quite a number of control agreements which provide that the Broker shall have no liability to the Lender except for the…READ MORE

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