Top 5 Misconceptions About UCC & Corporate Due Diligence Series # 5: Omit “dba” notation from UCC Filings
Corporate, Due Diligence Something
A UCC Financing Statement must properly identify the debtor in order for the UCC to perfect a security interest and provide priority protection for the secured party. To satisfy this requirement, a secured party must complete their Financing Statement using the debtor’s legal name.
In general, secured parties understand the importance of properly naming the debtor on their UCC Financing Statements and try hard to comply. Sometimes though,… >> READ MORE
Tired of Slow UCC and Corporate Document Processing Times?
UCC, Corporate Something
As the U.S struggles toward economic recovery, most local governments are really feeling the pinch. State and county-level governments face overwhelming budget shortfalls, dramatically impacting their ability to deliver timely public services. These budget woes often translate into slowed turn around times for public record information requests and document filings. In this blog post, we will discuss three strategies for getting your hands… >> READ MORE
State Filing Office Terminology: Identifying Synonymous Corporate Terms
Corporate Something
One of the challenges associated with the filing and retrieval of corporate documents is the lack of consistency in state filing office terminology. This state-to-state variation makes it difficult to be certain you are interacting with the correct documents and using the appropriate language; driving many lenders, paralegals and entrepreneurs to work with a private service company to guide their corporate transactions. In this week’s… >> READ MORE
Quick Tip: Order a Long Form Good Standing to Confirm you Have Copies of All Documents on File
Corporate Something
A good standing certificate (aka status certificate ) is a state-issued document that verifies that a registered entity is authorized to do business in a given jurisdiction. Further, the document certifies that the named entity has complied with certain statutory requirements imposed by that state. These requirements may include things such as filing requisite paperwork and paying an annual fee or tax.Most states offer two types of good… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part Two
Corporate, Due Diligence Something
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the second installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
Frequently Asked Question # 2: What Obligations Qualify as a "Purchase Money Obligation"?
The term “purchase money obligation” is defined under the Code as “an obligation… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part Three
Corporate, Due Diligence Something
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the third installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
Frequently Asked Question # 4: Does a Holder of a PMSI in Inventory Prime an Earlier Perfected Security Interest in Accounts?
First, it is important to recognize a basic Code priority… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part Six
Corporate, Due Diligence Something
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the sixth installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
Frequently Asked Question #7: How Does a Lender Obtain a PMSI in Inventory?
A purchase-money secured party who finances inventory for a borrower (or in the case of a seller, retains… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part One
Corporate, Due Diligence Something
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the first installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
We are routinely fielding questions from loan officers about the mechanics of purchase money security interests in inventory and equipment. Lenders find themselves on both sides of… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part Four
Corporate, Due Diligence Something
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the fourth installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
The Official Comment to Section 9-324 contains the following examples which demonstrate the application of the priority rules as they affect proceeds of inventory constituting accounts:
"9.… >> READ MORE
Purchase Money Security Rules in Equipment and Inventory – Part Five
Corporate, Due Diligence Something
We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the fifth installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
Frequently Asked Question #5: How Does a Lender Obtain a Purchase Money Security Interest in Equipment?
A purchase money secured party who finances specific equipment for a borrower… >> READ MORE
