State Filing Office Terminology: Identifying Synonymous Corporate Terms
Corporate
One of the challenges associated with the filing and retrieval of corporate documents is the lack of consistency in state filing office terminology. This state-to-state variation makes it difficult to be certain you are interacting with the correct documents and using the appropriate language; driving many lenders, paralegals and entrepreneurs to work with a private service company to guide their corporate transactions. In this week’s… >> READ MORE
Quick Tip: Order a Long Form Good Standing to Confirm you Have Copies of All Documents on File
Corporate
A good standing certificate (aka status certificate ) is a state-issued document that verifies that a registered entity is authorized to do business in a given jurisdiction. Further, the document certifies that the named entity has complied with certain statutory requirements imposed by that state. These requirements may include things such as filing requisite paperwork and paying an annual fee or tax.Most states offer two types of good… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part Two
Corporate, Due Diligence
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the second installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
Frequently Asked Question # 2: What Obligations Qualify as a "Purchase Money Obligation"?
The term “purchase money obligation” is defined under the Code as “an obligation… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part Three
Corporate, Due Diligence
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the third installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
Frequently Asked Question # 4: Does a Holder of a PMSI in Inventory Prime an Earlier Perfected Security Interest in Accounts?
First, it is important to recognize a basic Code priority… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part Six
Corporate, Due Diligence
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the sixth installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
Frequently Asked Question #7: How Does a Lender Obtain a PMSI in Inventory?
A purchase-money secured party who finances inventory for a borrower (or in the case of a seller, retains… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part One
Corporate, Due Diligence
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the first installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
We are routinely fielding questions from loan officers about the mechanics of purchase money security interests in inventory and equipment. Lenders find themselves on both sides of… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part Four
Corporate, Due Diligence
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the fourth installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
The Official Comment to Section 9-324 contains the following examples which demonstrate the application of the priority rules as they affect proceeds of inventory constituting accounts:
"9.… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part Five
Corporate, Due Diligence
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the fifth installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
Frequently Asked Question #5: How Does a Lender Obtain a Purchase Money Security Interest in Equipment?
A purchase money secured party who finances specific equipment for a borrower… >> READ MORE
Do you know State of Delaware Offers Preclearance Corporate Filing Service?
Corporate
For those of you who have never used the preclearance corporate filing service in Delaware, it really is a handy way to make sure you have drafted your document correctly. This service is particularly useful for documents that need to be processed as a rush, as you can be assured you will not encounter any problems or rejections once submitted.
The state offers three tiers of preclearance service: routine, 24-hour, and 2-hour.
The… >> READ MORE
[Important] Delaware SOS Website To Be Closed For Major Conversion
Corporate
The Delaware Division of Corporations office will be closed Friday, September 4, and will reopen on Tuesday, September 8.
The reason for the closure is to implement a major computer system conversion over Labor Day weekend. The upgrade to its imaging, workflow and data systems will allow enhanced services and products and be its first major overhaul since 1989. You can read what is posted on the Delaware Secretary of State’s website… >> READ MORE
