Has the Broker subordinated its statutory first priority security interest in the Securities Account to the Lender’s security interest in the Securities Account?
UCC, Due Diligence, Revised Article 9We're continuing our examination of control agreements for pledged securities accounts with guest blogger Bennett Cohen of the law firm Cohen, Salk & Huvard, P.C. See the introductory post here and the follow-up post, Is there adequate “control” language in the control agreement? Has the Broker subordinated its statutory first priority security interest in the Securities Account to the Lender's security interest in the Securities…READ MORE