Risk Management Blog

The State of Delaware offers Preclearance Review of Corporate Documents to assist filers through the corporate filing process and reduce the number of filings that do not meet required criteria. Various preclearance corporate filing services are offered and their official review procedures are a convenient way to avoid potential processing errors. This service assures that you have accurately drafted your corporate document before formally… >> READ MORE

Once a creditor has filed a UCC Financing Statement and perfected their security interest, maintaining that priority position throughout the life of the loan becomes paramount. Many choose to employ lien monitoring programs which run interval searches on debtor names to check for any new filing activity, and then provide timely updates that alert creditors to potential threats that may jeopardize their ability to collect. Monitoring provides… >> READ MORE

According to Section 9-625 of the Uniform Commercial Code, yes. 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 secured party of record has to file a termination statement of a financing statement covering consumer goods if all obligations have been fulfilled by the debtor: 9-513(b)… >> READ MORE

This was explored in a published report last month by the World Economic Forum. The World Economic Forum, an independent international organization and Swiss non-profit foundation that “engages the foremost political, business and other leaders of society to shape global, regional and industry agendas,” recently published their report Beyond Fintech: A Pragmatic Assessment Of Disruptive Potential In Financial Services (download report… >> READ MORE

Familiar with that feeling? Of course we’re all looking for ways to improve efficiency and, on this topic, there are some steps you can take that may help save time and streamline processes so you’re ready when it’s time and you’re not frustrated by missing documents at your closings. Don’t wait until the last minute. This seemingly simple tactic is vital to assuring you have the documents you need when you need them. If you… >> READ MORE

End of year buzzwords and phrases we all use and hear this time of year:  get better organized, be more efficient, streamline, and ultimately, be more successful. We’ve all worked towards accomplishing them and we utilize tools and tactics that help us achieve them. Below are links to various State departments nationwide, consolidating that information onto one web page, Your Ultimate State Research Links Library. We hope it’s a… >> READ MORE

Effective in Illinois on January 1, 2018, the State Tax Lien Registration Act will change how state tax liens are filed there. It will create one centralized State Tax Lien Registry for filing notices of tax liens in favor of or enforced by the Illinois Department of Revenue, who will manage the new registry. Currently, state tax liens in Illinois are filed by the Illinois Department of Revenue for unpaid taxes at appropriate county recorder… >> READ MORE

As California SB 2 has been rolled out, its implementation has created varying applications county to county. All of you recording documents in California counties are very aware of this new reality. Here’s a quick look at what SB2 is and what it does. To further assist you, below are updates and requests from various County Recorders regarding California SB 2. I. The below counties require a wet signature, under penalty of perjury,… >> READ MORE

You’ve done your due diligence. Your ducks are all lined up. Now you just need to file your UCC and/or corporate documents. It’s just a technicality, right? The heavy lifting is done. And then your filing gets rejected! What happened? It could be any number of things, depending on the filing office you’re interacting with, but one thing is for sure:  rejected filings cost secured parties time and money. Below are some tips… >> READ MORE

Your due diligence calls for lien searches. Who should you target? What lien types should you search for? Where should you search for them? These are all fundamental questions whose answers help you better uncover your prospect’s financial situation and better evaluate their credit worthiness. You know it’s important to search the public record, to uncover existing financial obligations and encumbrances, to learn and know a prospect’s… >> READ MORE