UCC Origination: Part II
The UCC lien protects lenders from authorizing additional loans that contain the same assets as collateral. It allows them to maintain their financial interests. UCCs are public record and proper …
UCC Origination: Part I
Where does a UCC originate from? Typically when a debtor (entity or individual) agrees to pledge assets to a secured party, usually a lender, for a loan or line of …
Debtor’s Name Change? What To Do
A proper financing statement must provide the name of the debtor, and there are fairly strict requirements for the sufficiency of the debtor’s name. (See UCC§§ 9-502& 9-503.) If the …
Specify Collateral by Type Using UCC Article 9 Definitions
Article 9 of the Uniform Commercial Code requires that a financing statement, to be effective, must indicate the collateral that it covers.
Multiple Secured Parties: Risks
Complications with Multiple Secured Parties: Part 3 – Risks Again, most people do not appreciate the potential complications involved when a search reveals multiple secured parties on a single financing …
Multiple Secured Parties: Amendments
Complications with Multiple Secured Parties: Part 2 – Amendments Most people do not appreciate the potential complications involved when a search reveals multiple secured parties on a single financing statement. …