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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Private Agreements and Registered Agent Requirements

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

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

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

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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Texas Revised Assumed Name Filing Requirements

Corporate, Legislation

Texas House Bill 3609: Effective September 1st, 2019 Amends the Assumed Business or Professional Name section (Title 5, Chapter 71) of Texas Business and Commerce Code to remove county filing requirements. Assumed Name Requirements Entities required to file Certificates of Assumed Name if regularly doing business under an assumed name: • Domestic Business Corporations • Limited Liability Companies (LLCs) • Limited Liability…READ MORE

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California Escrow Association Educational Conference Recap

Events & Tradeshows

Aloha! We are proud to have exhibited once again at the 29th annual California Escrow Association (CEA) Nor Cal Educational Conference, The Ohana of Escrow! The conference ran from July 11th-12th at the Marriott in San Ramon and hosted a mix of Escrow Officers from around the state. Our Vice President of Strategic Relations, Chris Cerruti, tabled the event to offer information on our products and services that support Bulk Sale Escrow…READ MORE

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Delaware Legislation

Legislation

The following updates to Delaware legislation are effective August 1, 2019. SB 88 - Chapter 48 Amends the General Corporation Law (GCL), adding new provisions relating to documentation of transactions, the execution, and delivery of paper/electronic documents. Revisions were made to default provisions applicable to stockholder notices and updates to provisions governing notices of appraisal rights and stockholder consents delivered by…READ MORE

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The Ohana of Escrow

Events & Tradeshows

Aloha, Bulk Escrow Officers! The California Escrow Association NorCal Conference is taking place this Friday and Saturday. Escrow officers from across the state will come together and First Corporate Solutions is proud to attend! The Friday and Saturday schedules have planned sessions for many of the expected topics and culminates with the always anticipated Legislative Update. If you’re headed to the conference this week, stop…READ MORE

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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

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First Corporate Solutions Names Samuel Hon Chief Executive Officer

Events & Tradeshows

SACRAMENTO, CA - June 6th 2019 - David Silverburg, the Founder of First Corporate Solutions, Inc. (FCS), recently announced the appointment of Samuel Hon as Chief Executive Officer. With this transition, David will become the FCS Board Chairman, which entails providing the company with fiduciary guidance and consultation. In his announcement, David said, “Samuel has exemplified excellent leadership, and has illustrated a thoughtful…READ MORE

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