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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Bad Corporate Standing: What is it? How do I fix it?

Corporate Something

There are countless occasions in which a person could be asked to supply a certificate of good standing for their business, or where a lender or attorney acts to obtain one. Two of the most common scenarios are to register or qualify a company to transact business in another state, and to open a business banking account. A good standing certificate verifies that an entity is authorized to transact business in a given jurisdiction and… >> READ MORE

Delaware to Increase Minimum Tax Fee for Corporations and Annual Tax Fee for Alternative Entities

UCC, Corporate, Due Diligence Something

House Bill 265 w/HA1, HA3/Title 8 has been signed into effect by the Governor of Delaware. The bill is effective immediately, but the state is offering a grace period until July 1,2014 before enforcing the new tax rates. This Act increases the annual tax assessed on partnerships, limited partnerships and limited liability companies on file with the Secretary of State from $250 to $300 and increases the corporation franchise tax by $100… >> READ MORE

Delaware SOS Business Entity and UCC Fees Increase

UCC, Corporate Something

It should come as no surprise to anyone who has worked with the Delaware Secretary of State on a regular basis that some of the Business Entity and UCC Fees and Services are going to change as of August 1st of this year. The DE SOS already offers one-hour and two-hour expedited services for corporate filings (along with the usual same-day and 24-hour expedites), and now they’re rolling out a 30-minute service for a small fee of $3,000.00.… >> READ MORE

Delaware, Corporate Capital of the World! Practical Tips for Incorporating in Delaware

UCC, Corporate Something

First Corporate Solutions recently hosted a free webinar event, Delaware, Corporate Capital of the World. For those of you who were unable to attend, we recap some of the main points from that presentation here in this blog post. As most of you are aware, Delaware is an incredibly popular state for business formations . The state’s tax codes, chancery court, body of law and state legislature all promote a business friendly philosophy… >> READ MORE

California Bulk Sales Legislation, Senate Bill 12, Seeks to Repeal the California Bulk Sales Law

UCC, Corporate Something

[Updated: 2/10/2012] The California State Senate is debating a piece of legislation that could dramatically affect your business. Labeled SB 12, this legislation seeks to amend significant sections of the state Business and Professions Code, the Civil Procedure Code, the Revenue and Taxation Code and Article 6 of the Uniform Commercial Code. If passed, SB 12 will repeal the California Bulk Sales Law in its entirety. First Corporate… >> READ MORE

Additional Resources for Information on UCC & Corporate Due Diligence

UCC, Corporate, Due Diligence Something

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

3 Tips for Choosing a Public Records Service Company

UCC, Corporate, Due Diligence Something

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

Costs to Perform a Lien, UCC, Litigation or Bankruptcy Search

UCC, Corporate, Litigation Research, Due Diligence Something

One of the most common areas of confusion relating to public records searching has to do with the costs incurred for search requests, particularly those requests that a customer places with a private service company. The fees associated with this type of research are varied and an invoice may use terminology that is unfamiliar to those with infrequent searching needs. Herein, we offer some guidelines for what types of fees you can expect… >> READ MORE

To Find Legal Name of a Business Debtor, Refer to Organizing Paperwork

UCC, Corporate, Litigation Research, Due Diligence Something

According to the Uniform Commercial Code, a UCC Financing Statement is only effective if it gets the debtor name right. A UCC Financing Statement that fails to properly identify the debtor by their legal name will not offer the secured party priority status to collect should the debtor default or file for bankruptcy. The Code goes on to say that for registered business debtors, the name that should appear on a UCC Financing Statement… >> READ MORE

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

Corporate Something

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