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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

[Latest Update] 2010 UCC Article 9 Amendments Legislation

Legislation Something

As we noted in our October blog post, California governor Jerry Brown signed CA Assembly Bill 502, making California the latest state to enact the 2010 Amendments to Article 9 of the Uniform Commercial Code.  The new filing rules will go into effect on July 1, 2014. Only six states have not enacted the Revised Article 9 legislation with an effective date of July 1. 2013. The remaining six states are: Alabama Arizona New York Oklahoma Vermont California… >> READ MORE

Legislative Update

Corporate, Legislation Something

Alabama House Bill 251 | Effective: 01/01/19 The bill makes technical corrections regarding the name of the Alabama Limited Liability Company Law, the ability of a partnership to continue as an entity for a brief period of time under the law with one partner or no partners and the duty of a partner in a general partnership to not compete with the partnership before the partnership is dissolved. The bill is retroactively effective as of… >> READ MORE

FCS Legislative Watch – Have You Heard about Senate Bill 391 That Seeks to Impose Additional Charge on Recorded Documents?

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CA Senate Bill 391 Seeks to Impose $75 Additional Charge on Recorded Documents First Corporate Solutions (FCS) wants to help raise awareness that a bill is now working its way through the California State Legislature that could prove costly to those in the public records, escrow, title, and lending communities. If passed, CA Senate Bill 391 would enact the California Homes and Jobs Act of 2013 which seeks to raise funds for affordable… >> READ MORE

Changes to California Limited Liability Company Filings

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According to the California Secretary of State, changes will be made to the California Limited Liability Company Filings effective January 1, 2014. Changes to Limited Liability Company Filings As of January 1, 2014, the "Beverly-Killea Limited Liability Company Act" (California Corporations Code sections 17000 - 17657) will be repealed and replaced with the "California Revised Uniform Limited Liability Company Act" (California Corporations… >> READ MORE

2015 – 2016 Delaware Secretary of State Holiday Schedule

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Below is the holiday office hours schedule for the remainder of the year and the start of 2016 for Delaware state offices. If you have any questions regarding this schedule please contact your customer service representative. Wednesday, November 11, 2015 State Holiday – Veterans Day – The Division of Corporations will be closed. Wednesday, November 25, 2015 There will be no change in the regular hours of the Division - the 4-12… >> READ MORE

Solar Boom Continues Upward Trajectory

UCC, Legislation, Online UCC System Something

Last year, Congress' approved 2016 federal spending bill included an extension of the solar panel tax credit. Homeowners, solar companies, and industry advocates alike were given a big Christmas gift in 2015 when Congress approved the 2016 federal spending bill and extended the solar panel tax credit. The December 18 bill contained a 5-year solar tax credit extension, which makes solar more affordable for all Americans. -- The… >> READ MORE

New Year Changes For Notaries Public In California

Corporate, Legislation Something

Effective January 1, 2017, some changes affecting notaries public are coming from the California Secretary of State’s Business Programs Division, Notary Public and Special Filings Section One change regards apostilles. Whereas an individual apostille used to require a separate certificate for each individual country under The Hague Convention of 5 October, 1961, now the apostille will no longer include the country in which it will be… >> READ MORE

Big Changes In Illinois: New Centralized State Tax Lien Registry Created

UCC, Corporate, Legislation, Due Diligence Something

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

California SB 2 Update On Varying County Requirements

UCC, Legislation, Due Diligence, Title Related Topics Something

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

Commercial vs Noncommercial Registered Agents

Corporate, Registered Agent, Legislation, Tips Something

Providing a registered agent for service of process (SOP) when completing business entity filings is often required. Whether it is a commercial registered agent or noncommercial registered agent impacts how the filing is completed. For example, when appointing commercial registered agents, the filer is not required to provide an address in some states; it is always required of noncommercial agents. Commercial agents also file registered… >> READ MORE