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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

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


Changes to California Limited Liability Company Filings

Legislation

According to the California Secretary of State, changes will be made to the California Limited Liability Company Filings effective January 1, 2014. Changes to Limited Liability Company Filings As of January 1, 2014, the "Beverly-Killea Limited Liability Company Act" (California Corporations Code sections 17000 - 17657) will be repealed and replaced with the "California Revised Uniform Limited Liability Company Act" (California Corporations… >> READ MORE


2015 – 2016 Delaware Secretary of State Holiday Schedule

Legislation

Below is the holiday office hours schedule for the remainder of the year and the start of 2016 for Delaware state offices. If you have any questions regarding this schedule please contact your customer service representative. Wednesday, November 11, 2015 State Holiday – Veterans Day – The Division of Corporations will be closed. Wednesday, November 25, 2015 There will be no change in the regular hours of the Division - the 4-12… >> READ MORE