Benefits of Having a Registered Agent
Having a Registered Agent ensures lawsuits and legal documents will be delivered privately. There won’t be any law enforcement officers showing up at your place of business which could potentially …
Flagging Unauthorized Termination Statements with Information Statements
Say you are a secured party with a filed financing statement. For whatever reason, you obtain a search report for filings naming your debtor. The report shows your unlapsed financing …
The Real Deal with Apostilles
An apostille is a formal certification by a competent authority of the authenticity of the origin of a qualifying document. An apostille facilitates the acceptance of the qualifying document by a foreign authority.
Status of Financing Statements
“Lapsed” or “Unlapsed,” and Perhaps “Active” or “Inactive,” but not “Terminated.”
The UCC’s recordkeeping requirement for filing offices (e.g., state Secretaries of State) is that the filing office must maintain records until at least one year after a financing statement would lapse.
Do you say “P.M.S.I.” or “pimm zee”?: Part 3
Why allow a PMSI to disturb the relatively straightforward order-of- filing priority scheme? There are at least two reasons: Facilitating seller financing Limiting the power of existing secured parties. Sometimes …
Do you say “P.M.S.I.” or “pimm zee”?: Part 2
If a secured party has a perfected security interest in purchasemoney collateral, the secured party should be able to acquire purchasemoney priority – and take advantage of an exception to the general rules of priority – by satisfying the technical requirements of § 9-324.