Date: May 9, 2013
Time: 3:00pm - 4:30pm
The last major revision to UCC Article 9 occurred over a decade ago. At long last, the Uniform Law Commission has recommended new changes to UCC Article 9 that become effective July 1, 2013. Most of the changes relate to properly completing and filing UCC financing statements, including a change in the required information listed on the financing statement. In addition, there are new procedures regarding determining the proper legal name of the debtor and the security interest in after-acquired property when the debtor moves to another state. This session will cover the Article 9 changes and thoroughly explain how to complete each section of the new UCC-1 financing statement together with the proper filing requirements.
Although it is anticipated that every state will adopt the new UCC changes by July 1, at press time, these states hadn’t: California, Delaware, Georgia, Maine, New Jersey, New York, and Vermont. Visit http://www.uniformlaws.org/Act.aspx?title=UCC Article 9 Amendments (2010) to check on the current adoption status.
Continuing Education: Attendance verification for CE credits upon request
- Review of all new changes to UCC Article 9
- Practical recommendations on how your credit union can comply with these new changes
- Review of new UCC-1 financing statement
- Explanation of how to properly complete each section of the new form
- Review of proper filing requirements for financing statements
- TAKE-AWAY TOOLKIT
- Copy of new UCC-1 financing statement
- Chart listing which new changes were adopted in each state
WHO SHOULD ATTEND?
This informative session is useful for any credit union employees involved in the credit process, including loan operations personnel, loan officers, compliance staff, attorneys, and managers.
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