Can A Secured Party Be Liable For Failure To File Timely Terminations?
October 19, 2018
According to Section 9-625 of the Uniform Commercial Code, yes.
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 secured party of record has to file a termination statement of a financing statement covering consumer goods if all obligations have been fulfilled by the debtor:
Registered Agent, Process Agent, and Special Agency Explained
August 30, 2018
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
Local Muralist Adds Fresh Look to FCS Corporate Office
July 26, 2018
At First Corporate Solutions one of our guiding principles is to cultivate an environment that encourages ideas and questions the status quo. As part of that mission we are excited to announce the commissioned mural by local artist Jake Castro on the exterior of our corporate office in Sacramento. Having earned a BFA from the Art Institute of Chicago and 14+ years of experience, Castro’s work is a mix of kinetics and geometry that highlights…READ MORE
FCS Coordinates Meeting With LA County Tax Collector And Bulk Sale Escrow Officers
October 30, 2017
First Corporate Solutions recently coordinated and led a meeting with the Los Angeles County Tax Collector and bulk sale escrow officers helping to represent LA county. We batted around good solutions to a few key issues, and are now discussing implementations.
Here are a few of the primary takeaways.
Issue: Lag time and lack of return of the tax releases
Solution: The tax collector…READ MORE
The True Value of Customer Service in the UCC Industry
October 20, 2017
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, true Customer Service can…READ MORE
What’s Your Escrow Super Power?
October 13, 2017
That’s this year’s theme for the California Escrow Association Annual Conference when it convenes this weekend 10/12-10/14 at the Costa Mesa Hilton. First Corporate Solutions is proud to be there again with escrow officers from across the state!
Thursday’s main event is the Mark Coniglio Memorial Golf Tournament, always a wonderful kickoff to the weekend’s festivities, followed up by packed Friday and Saturday schedules, and culminating…READ MORE
California SB 2 Real Estate Transaction Fee Hike An Attempt To Fund Affordable Housing Development
September 28, 2017
California Senate Bill 2 was was enrolled and presented to Governor Jerry Brown on September 21, 2017. As it awaits his decision to sign or not, and he has indicated he will sign it along with other legislation designed to address the affordable housing crisis in California, what is it and why is it important?
If signed, California SB 2 will put into effect a $75 fee on real estate transaction documents when they are filed, capped at…READ MORE