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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Senate Bill 12 Update (6/27/2012) – Call to Action

Legislation

[Latest Update from the California Escrow Association (CEA) - 6/27/2012] Yesterday, SB 12 (as amended - SB 12 - Assembly Rev & Tax Committee_2012, SB_12_AsAmended) passed out of the Assembly Judiciary Committee. While this action was not unexpected, it makes our letter-writing campaign even more important. In preparation for the next hearing that will take place on Monday, July 2nd, in the Assembly Revenue & Taxation (“Rev… >> READ MORE


Senate Bill 12 Update (6/19/2012) – Call to Action

Legislation

[Latest Update from the California Escrow Association (CEA) - 6/19/2012] Today SB 12 was heard in the Assembly Judiciary Committee. It did not move out of the committee for several reasons; among them, your letter writing and calling to your Assembly Members who serve on that Committee. We expect SB 12 will be heard again in the Assembly Judiciary Committee next Tuesday morning. If it makes it out of the committee on its second attempt,… >> READ MORE


New Developments as Fight Against UCC Fraud Gains Momentum

Legislation

Earlier this year, FCS posted a story on our blog warning readers about Redemption Process and the dangers of UCC fraud. You can read that post here . We are happy to report that in recent weeks there has been significant progress in the fight against fraudulently filed UCC documents. In August, the National Association of Secretaries of State (NASS) released their report on bogus UCC filings titled, “State Strategies to Subvert Fraudulent… >> READ MORE


[Latest Update] 2010 UCC Article 9 Amendments Legislation

Legislation

As we noted in our October blog post, California governor Jerry Brown signed CA Assembly Bill 502, making California the latest state to enact the 2010 Amendments to Article 9 of the Uniform Commercial Code.  The new filing rules will go into effect on July 1, 2014. Only six states have not enacted the Revised Article 9 legislation with an effective date of July 1. 2013. The remaining six states are: Alabama Arizona New York Oklahoma Vermont California… >> READ MORE


What should I do if I accidentally let my UCC1 Financing Statement lapse?

UCC, Tips

A UCC1 financing statement is effective for a period of five years. A record that is not continued before its lapse date will cease to be effective, costing the secured party their perfected status and perhaps their priority position to collect. Once a financing statement has lapsed, it cannot be revived. If the underlying security agreement endures, a secured party should work with their legal or risk management department to determine… >> READ MORE


Five Trends Guaranteed to Change the Face of the Paralegal Profession, Part Three

Corporate

We are pleased to welcome Chere Estrin, editor-in-chief for SUE and KNOW magazines, as a special guest blogger. Please read on for the third installment of Chere’s five-part blog series on trends in the paralegal profession. Trend Number Three: Merger Mania and the Sarbanes-Oxley Act If only Enron, WorldCom, Computer Associates, Qwest, Comverse, Adelphia and others hadn’t generated so many business scandals. We probably wouldn’t… >> READ MORE


Five Trends Guaranteed to Change the Face of the Paralegal Profession, Part Two

Corporate

We are pleased to welcome Chere Estrin, editor-in-chief for SUE and KNOW magazines, as a special guest blogger. Please read on for the second installment of Chere's five-part blog series on trends in the paralegal profession. Trend Number Two: Offshoring Lawyers and Paralegals Mention offshoring, and most paralegals and attorneys storm out of the room. But outsourcing does not appear to be fading away. Hiring attorneys in India or the… >> READ MORE


COVID-19 Federal Aid Application Tips

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


Legislative Update

Corporate, Legislation

Alabama House Bill 251 | Effective: 01/01/19 The bill makes technical corrections regarding the name of the Alabama Limited Liability Company Law, the ability of a partnership to continue as an entity for a brief period of time under the law with one partner or no partners and the duty of a partner in a general partnership to not compete with the partnership before the partnership is dissolved. The bill is retroactively effective as of… >> READ MORE


FCS Legislative Watch – Have You Heard about Senate Bill 391 That Seeks to Impose Additional Charge on Recorded Documents?

Legislation

CA Senate Bill 391 Seeks to Impose $75 Additional Charge on Recorded Documents First Corporate Solutions (FCS) wants to help raise awareness that a bill is now working its way through the California State Legislature that could prove costly to those in the public records, escrow, title, and lending communities. If passed, CA Senate Bill 391 would enact the California Homes and Jobs Act of 2013 which seeks to raise funds for affordable… >> READ MORE