Risk Management Blog

The last few years have seen a dramatic rise in the number of states that allow electronic filing (eFiling) of UCC documents. In fact, nearly every state now accepts UCC filings that are transmitted electronically in some way. In most cases, eFiling represents an improvement over traditional paper filing since eFiled documents are generally acknowledged quicker than paper filings and often incur a lower filing fee. However, there are a few… >> READ MORE

In order to fend of challenges to their priority position, UCC filers must keep their filing information accurate and up-to-date. This is accomplished by filing the appropriate UCC3 Statement. There are five types of UCC3 Filings: Continuations extend the term for a Financing Statement by an additional five years Party Amendments add, delete or change debtor or secured party information Collateral Amendments add, delete or restate… >> READ MORE

We are pleased to announce that we have added Iowa to our online search system. Active users can log on now to www.ficoso.com and search our reliable state-direct Iowa data complemented by an expansive library of clear, downloadable document images. Utilize our broad-based search engine to locate liens by debtor name or file number, then use our unique sorting and filtering features to create a customized search result tailor made… >> READ MORE

With the upcoming changes to the California Limited Liability Company Filings effective January 1, 2014, the current version of the following forms will not be accepted for filing after December 31, 2013. Form LLC-1 (Articles of Organization). Form LLC-1A (Articles of Organization - Conversion) Form LLC-2 (Certificate of Amendment) Forms LLC-10 (Restated Articles of Organization) Form LLC-8 (Certificate of Continuation) Form… >> READ MORE

You can, but keep in mind that according to the Uniform Commercial Code, filing under a trade name (dba) alone is not sufficient to perfect a security interest. In order to perfect, a secured party must file under the legal name of the debtor; a “dba” name does not constitute a legal name. A secured party may file under both the legal name and the trade name if they wish. Please refer to our previous blog post, Omit “dba” Notation… >> READ MORE

With the Business Entity Form Changes in California, the following forms have been revised.  The prior version of these forms will remain acceptable for filing, but will no longer be available on the California Secretary of State website.  These revised forms can be filed on or after January 2, 2014.  To get the revised forms, go to www.sos.ca.gov/business/be/forms.htm: Business Entities Fee Schedule Form LLC-3 (Certificate of… >> READ MORE

It's time to refresh your UCC knowledge! Join us this week for a practical overview of common UCC filing mistakes. An Insider's Guide to Avoid UCC Filing Mistakes Duration: 30 Minutes What Will You Learn? Join us for a practical overview of common mistakes that occur on UCC filings and tips for how to avoid them. Designed for beginning-level UCC filers, this 30 minute presentation discusses errors that result in rejection as well… >> READ MORE

Some filing offices will place a file number stamp or sticker on each page of a filed instrument, though most do not. Ordering a Search to Reflect to include copies of filed documents can confirm that the attachment pages were filed along with the face page. Questions? Contact First Corporate Solutions Free Reference Materials Visit our free reference library to download reference guides and other resource materials on UCC &… >> READ MORE

It's time to refresh your UCC knowledge! Join us this week for a presentation on perfecting and maintaining a security interest by attorney Michael Weissman. Perfecting and Maintaining a Security Interest, Traps for the Unwary Speaker: Attorney Michael Weissman What Will You Learn? This sixty-minute intermediate to advanced-level presentation exposes traps for the unwary when attempting to perfect and maintain a security interest.… >> READ MORE

It's time to refresh your lien knowledge. Join us this week to learn more about lien priority. The Basics of Lien Priority Duration: 60 Minutes Webinar Description Mastery of lien priority is critical in today’s high stakes, fast-paced world of commercial transactions. Whether you’re new to the industry or an industry veteran, you won’t want to miss this presentation by Texas attorney Bradley B. Clark on lien priority. Questions? Contact… >> READ MORE