Text Added to Debtor Name Text Rendered Financing Statement Seriously Misleading By Paul Hodnefield, Esq. Filers sometimes use the debtor name field on a UCC financing statement to communicate information about the debtor, such as debtor’s capacity or other facts
Unauthorized UCC3 Termination Statement did not Support Tortuous Interference Claim By Paul Hodnefield, Esq. Nothing gives a secured lender heartburn faster than learning that someone has allegedly terminated its financing statement without permission. The lender will often assume that the
The effectiveness of any filed UCC record depends on whether it was filed by a party that was authorized to do so under UCC § 9-509. In the case of an initial financing statement, the debtor must authorize the secured
By Paul Hodnefield, Esq. In general, UCC Article 9 requires security interests in motor vehicles not held as inventory to be perfected under state certificate of title law. Normally, this means the secured party must have its lien noted on
The Virginia State Corporation Commision computer system will not be available October 21.
With July 1 upon us we wanted to update you on the developments with the 2010 Amendments to Revised Article 9. Alabama: The 2010 Amendments take effect on July 1st. The new law provides Alternative A for individual debtor name
The Arizona Legislation passed Senate Bill 1046 this week to enact the 2010 Amendments to UCC Article 9. The bill was sent to the governor on Thursday, April 17, 2014 for approval. The bill does not state an effective date
There has been a lot of legislative week activity and here are the highlights. 2010 Amendments to UCC Article 9 Arizona: SB 1046 to enact the 2010 Amendments passed the Senate on 2/3/2014 and was transmitted to the House. Committee assignment in
Alabama: SB 28 to enact the 2010 Amendments was fast tracked and passed the Senate on 1/23/14. The bill was promptly transmitted to the house where it is pending. Alabama: HB 32 to enact the 2010 Amendments is pending its
New! Click HERE for a chart that provides information on the UCC administrative rules adopted by each state, including links to the rules on each state’s website.