When Searching Legal Entities in California, Do You Need to Also Search the Officers, Members and Trustees?
Corporate, Revised Article 9 Something
This is a question that comes up in the due diligence process and is an important one to consider as you fulfill your lien and corporate search requirements when qualifying new candidates for loans and also as you monitor your perfected security interests going forward. When conducting a search on a legal entity, such as a Corporation, LLC or Trust, should a search be conducted on the officers, members and/or trustees?
The answer depends… >> READ MORE
Upcoming Changes to Revised UCC Article 9
UCC, Due Diligence, Revised Article 9 Something
As many of you are probably aware, state filing offices are in the process of reviewing and approving a set of proposed amendments to Revised Article 9 (RA9) of the Uniform Commercial Code. The proposed changes are designed to bring about increased consistency between filing offices and to offer answers to some questions that have been raised in the courts since RA9’s adoption back in 2001.
As we have discussed on this blog on several… >> READ MORE
Drawbacks of a Certified UCC Search – FCS Greatest Hits #6
UCC, Online UCC System, Due Diligence, Revised Article 9 Something
The final installment in our Greatest Hits blog series covers state certified UCC searches, aka UCC11s. There are times when you might want to request a certified search, they do serve a purpose. But, because of their oftentimes narrow search logics which can inhibit a searchers ability to uncover name variations, thorough due diligence typically requires utilizing a broad-based search solution that is designed to uncover and include… >> READ MORE
Three Phases of Due Diligence Series – Phase One: Pre-Funding
UCC, Corporate, Due Diligence, Revised Article 9 Something
In the pre-funding phase, lenders perform public records searches to uncover any existing liens or outstanding financial obligations that bind their prospect. Searching helps lenders determine if they could obtain a priority position to collect if they decide to fund the deal. Companies who require additional intelligence and insight in corporate due diligence may wish to hire investigators to assist with the process.
Focusing on the… >> READ MORE
Need Some Help in Figuring Out Where to Conduct UCC and Lien Searches?
UCC, Revised Article 9, Tips Something
When searching for liens as part of a prefunding search package, it is important to know where liens could be filed. The last thing any lender wants is a surprise lien! In order to be certain you’re getting the results you think you are; searches must be performed for the right records at the appropriate filing office.
Here are some tips to help determine where to search:
1. Revised Article 9 sets forth that UCC Financing… >> READ MORE
The 2013 UCC Revised Article 9 Amendments Are Almost Here – Have no Fear! Part Three: Naming a Registered Businesses as a Debtor
UCC, Revised Article 9 Something
Some regular readers of the blog have mentioned that they are feeling a bit apprehensive about the changes to Revised Article 9. In response, FCS has started a blog series to break down the major points of the amendments and help eliminate some of the anxiety UCC filers may be experiencing.
This week’s topic is UCC Section 9-503(a)(1) which involves how to properly list a registered business as a debtor.
UCC Section 9-503(a) (1):… >> READ MORE
The 2013 UCC Revised Article 9 Amendments Are Almost Here – Have no Fear! Part Six: New UCC1 Financing Statement and UCC3 Change Statement Forms
UCC, Revised Article 9 Something
The 2010 amendments to Revised Article 9 of the Uniform Commercial Code (RA9) are set to go into effect in only a few short months. Some FCS customers and regular readers of our blog have expressed apprehension about the impending changes and have requested additional information. In response, FCS has started a blog series to break down the major points of the 2010 amendments and help eliminate some of the anxiety UCC filers may be feeling… >> READ MORE
The 2013 UCC Revised Article 9 Amendments Are Almost Here – Have no Fear! Part Five: Naming an Individual as a Debtor, Options A and B Explored
UCC, Revised Article 9 Something
The 2013 amendments to Revised Article 9 of the Uniform Commercial Code (RA9) are set to go into effect in only a few short months. FCS has started a blog series to break down the major points of the 2010 amendments and help eliminate some of the anxiety UCC filers may be feeling about the changes.
Last week, we discussed what many consider the most welcome and most broadly applicable change included in the proposed amendments: changes… >> READ MORE
The 2013 UCC Revised Article 9 Amendments Are Almost Here – Have no Fear! Part Four: Naming an Individual as a Debtor
UCC, Revised Article 9 Something
The 2010 amendments to Revised Article 9 of the Uniform Commercial Code (RA9) are set to go into effect in only a few short months. Some regular readers of the blog have expressed apprehension about the changes and have requested additional information. In response, FCS started a blog series to break down the major points of the 2010 amendments to help eliminate some of the anxiety UCC filers may be feeling about the changes.
As we have… >> READ MORE
First Corporate Solutions Revised Article 9 Amendments Resource Page is Now Live
UCC, Revised Article 9 Something
The 2010 amendments to Revised Article 9 of the Uniform Commercial Code (RA9) are set to go into effect in only a few short months. Some FCS customers and regular readers of our blog have expressed apprehension about the impending changes and have requested additional information. In response, FCS has created a resource page as a one-stop shop to answer all of your RA9 amendment questions!
Visit our RA 9 Resources page here http://info.ficoso.com/ra9_resources … >> READ MORE
