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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals


Where Should You File Your UCC?

UCC, Due Diligence

That’s a good question, and revisions to Article 9 of the Uniform Commercial Code over the years has looked to clarify the answer. It comes down to determining the business entities’ State of Organization and the State of Residence for individuals. Revised Article 9 sets forth that UCC Financing Statements filed against business entities are to be filed in their state of organization. UCCs filed against individuals must be filed in…READ MORE

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Three Top Reasons Why Public Records Research is Essential for an Asset-Based Lender’s Due Diligence Process

Due Diligence, Lien Monitoring

In our continued focus on the importance of public records research to a secured party’s security interest perfection process, today we list three of the main reasons. So why is public records research essential to an Asset-based lender’s due diligence processes? 1. To determine priority before filing A public records search uncovers pre-existing liens (like Federal and State tax liens, Judgment liens and UCCs) which can prevent…READ MORE

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Do risks to your perfected security interest end with Federal tax liens and pre-lien IRS related threats?

UCC

Do risks to your perfected security interest end with Federal tax liens and pre-lien IRS related threats? The simple answer is No. Some would seem to have you believe the opposite is true, but it’s not. For example, last week we discussed how judgment liens can prime a previously perfected security interest. If you missed that post you can check it out here. But that’s not all. In some states, State tax liens can also potentially…READ MORE

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