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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Filing Office Closures due to Coronavirus (Updated 4/24/20)

April 24, 2020 Services / System Update

The impact of the coronavirus (COVID-19) is being felt worldwide and First Corporate Solutions is doing everything possible to maintain workflow capabilities and standards while this worldwide event plays out. There are, however, certain documentation processes that are out of our control, like closures or limitations to filing offices and court records due to quarantine or other action. Below is a list of filing offices that are being impacted…READ MORE

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COVID-19 Federal Aid Application Tips

April 10, 2020 Tips

Well 2020 sure has taken a turn. We went from barely hearing about COVID-19 to a complete worldwide shutdown in just a few months. Not only are there very serious health concerns over the virus, but with most of the “non-essential” workforce being forced to shut their doors or work from home, small businesses are paying the price with decreased revenues and many businesses are being forced to furlough or layoff employees. To help…READ MORE

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Florida Corporations Beware: Here’s what you need to know in 2020

April 05, 2020 Corporate

If you run a Florida corporation, your year has started off with a series of legislative updates that could potentially impact your business. On January 1, 2020, Florida House Bill 1009 took effect, revising the Florida Business Corporation Act and affecting almost every section of the law, in many cases, substantially. Below are just a few of the revisions which took effect cited from Florida Statutes Chapter 607. DOCUMENT CORRECTIONS Corrections…READ MORE

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California Consumer Privacy Act Now In Effect

January 02, 2020 Legislation

The California Consumer Privacy Act (CCPA), a comprehensive consumer protection law that redefines what is considered personal information and how that information is handled, took effect January 1, 2020, impacting companies doing business in the Golden State. Text of the CCPA can be found here. The CCPA places new requirements on a wide range of businesses that interact with the personal information of Californians regarding the collection,…READ MORE

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Delaware Offers Preclearance Review of Corporate Documents to Reduce Rejections

November 14, 2019 Corporate, Due Diligence, Tips

The State of Delaware offers Preclearance Review of Corporate Documents to assist filers through the corporate filing process and reduce the number of filings that do not meet required criteria. Various preclearance corporate filing services are offered and their official review procedures are a convenient way to avoid potential processing errors. This service assures that you have accurately drafted your corporate document before formally…READ MORE

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California Escrow Association Conference Recap 2019

October 31, 2019 Events & Tradeshows

First Corporate Solutions (FCS) is proud to have exhibited once again at the 64th annual California Escrow Association Conference hosted at the Hilton Costa Mesa on October 10-12. The conference featured the installation of incoming President Diane Boudreau-Tschetter and the new 2020 officers, numerous break out sessions and education seminars, and a moving rendition of the Star Spangled Banner. It also featured a lively legislative update…READ MORE

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Private Agreements and Registered Agent Requirements

October 17, 2019 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

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Secured Party Liability for Failure to File Timely Terminations

September 26, 2019 UCC, Online UCC System, Due Diligence

Can a secured party be liable for failure to file timely finance statement terminations? According to Section 9-625 of the Uniform Commercial Code, yes. There can be secured party liability for failure to file timely terminations. 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…READ MORE

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True Value of Customer Service

September 12, 2019 UCC, Corporate, Registered Agent, Online UCC System, Due Diligence

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, the true value of Customer…READ MORE

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Legislation Effective September 1st

August 21, 2019 Corporate, Legislation

Texas House Bill 1159 Relates to acknowledgment of written instruments on behalf of limited liability companies. Senate Bill 1258 Provides for prosecution under the Penal Code of LLCs and other entities governed by the Business Organizations Code. House Bill 3609 Provides for business entities to file assumed name certificates only in the office of the Secretary of State and repeals the requirement to also file in county clerk…READ MORE

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