Risk Management Blog

We're talking control agreements this week with attorney Bennett Cohen. We're midway through an eight part series on this topic, so if you need a refresher please check out our previous posts: Examining Issues with Control Agreements for Pledged Securities Accounts Is there adequate "control" language in the control agreement? Has the Broker subordinated its statutory first priority security interest in the Securities Account to… >> READ MORE

You would think that something called Uniform Commercial Code (UCC) would be uniform throughout the states, right? If only it were. As folks who regularly file UCC filings nationwide know, Uniform Commercial Code varies widely from state to state. In Georgia, for instance, you have to pick a county in which to file even though all UCC filings are recorded in a centralized statewide database. In order to file a UCC-3, you need to make… >> READ MORE

We try to cover a wide range of topics on the First Corporate Solutions blog. Our approach is to identify the questions we hear customers and prospects pose most frequently and address those areas of confusion proactively on the blog. This week we respond by sharing some additional information and resource outlets regarding UCC & corporate due diligence. State and County Websites When you need to perform a search or submit a filing… >> READ MORE

You've made it to the final blog post in our series on control agreements for pledged securities accounts, written by attorney Bennett Cohen of Cohen, Salk & Huvard P.C. For more information about his law firm, please see the website here. This blog post series is informational in nature and is not intended to constitute, nor should it be relied upon as, legal advice to any recipient. Additional Provisions That Should be Contained… >> READ MORE

Could you use a refresher on UCC filing rules? You’re in luck! This week, we welcome guest author, attorney, Bennett L. Cohen to the blog! Read on for the first installment in his three-part blog series detailing the basic filing rules under Revised Article 9 of the Uniform Commercial Code. A Review of the Basic Filing Rules: UCC Financing Statements It is vitally important that UCC filers understand and observe the basic UCC filing… >> READ MORE

Under Revised Article 9 of the Uniform Commercial Code, secured parties are permitted to pre-file UCC Financing Statements, meaning they may file their UCC document before official execution of the security agreement provided the secured party receives proper authorization from the borrower. This week, we welcome Steve Capper of Flexible Funding as a guest author on the FCS blog. In this piece, Steve offers some words of caution for borrowers… >> READ MORE

Many small businesses have an internal department that handles all of their public records search and filing needs. As businesses grow and due diligence requirements get more complex, most decide to enlist the help of a private service company to carry out their public records checks and requests. Deciding which company to entrust with your business can be a tough choice. Between nationwide and local vendors, there are hundreds (if not… >> READ MORE

Creating a title report is a complex and detailed process. It requires experience and industry expertise to craft a comprehensive report that you can trust to assist you in making decisions. Reliability 1. Does your search company keep their word? Do you get your reports when promised? 2. Do they have errors & omissions insurance? 3. How often do they communicate with you? If your work will be delayed, do they tell you before… >> READ MORE

We continue our guest blog series with commercial lending attorney Bennett Cohen of the law firm Cohen, Salk & Huvard, P.C. You may also want to check out his eBook: Important Revisions To Article 9′s Rules Regarding Individual Debtors. Real Estate Transfer: If a lender discovers that its borrower/mortgagor has transferred ownership of the mortgaged property to a trust or other person or entity, does the lender need to do anything… >> READ MORE

FCS will host an exhibit at this year's disco themed "Don't Stop Believing" CEA conference, as well as sponsoring and presenting company news and information at the bulk sale session. The conference runs October 23-25 at the Hilton in Costa Mesa, with the bulk sale presentation taking place Saturday at 8:30AM. FCS will host booth #15 and will offer information on the available products and services, conference swag and a prize drawing. The… >> READ MORE