Not much is certain in life, but something you can always be sure of is change. Nothing ever stays the same. Mergers and acquisitions have been around for ages and are recently top of mind for some individuals around the globe. With mergers and acquisitions come changes in infrastructure and new asset purchases amongst other things.
We continue to see an increase in requests for services involving our neighbors to the North. Of those requests, Personal Property and Security Act (PPSA) registrations are topping the list. The PPSA is commonly thought of as the Canadian version of the Uniform Commercial Code (UCC) filings by many in the industry.
We often touch on the standard UCC Financing Statement because it is so widely known by the industries we serve, but we wanted to touch on several other situations that are not as generally understood.
There are two methods to filing a UCC, one is to send in the paper filing either through a courier or through the mail. The other is to record the UCC electronically through the state’s filing system. Both are equally effective, but there are some things that need to be considered when determining which method to use.
This year could not come to an end any sooner for most and yet there is much to be done before it’s over! Get things filed before the start of Q1 and wrap up those transactions to put a bow on 2020 and send it off.
Jurisdictional Highlights from April & May 2019. Delaware House Bill 43: signed on April 9, 2019. The bill eliminates the requirement under several provisions of Title 24 that applicants for professional licenses as well as adult entertainment establishments submit notarized applications.