What’s the Difference Between an “Active UCC Filing” and an “Effective UCC Filing?”
UCC, Due Diligence, Revised Article 9The Uniform Commercial Code contains many terms and phrases that are esoteric to the commercial lending industry—they have a very specific meaning within the code. The definition can be crucial to your due diligence efforts, so it’s important to know the difference. One instance we’ve come across is the difference between an “active UCC filing” and an “effective UCC filing,” which can have an affect on your due diligence.…READ MORE