Common Mistakes in UCC Filings

Presented by:
John Garvey

It has been nearly 5 years since the major changes to Article 9 of the Uniform Commercial Code (UCC) took effect. Many lenders are still adjusting to the new requirements on secured transactions, not just because they're different than in the past, but also because they can be confusing.

Mistakes can be made at the loan closing in the preparation and filing of security documents. These may come back to haunt the lender for years after the loan is made. This two-hour webinar focuses on common errors in preparing and filing UCC documents and the steps necessary to eliminate those mistakes.

This webinar provides lenders, loan review staff, and auditors with the knowledge to ensure the proper filing of UCC documents.

In this two-hour presentation, you will learn:

Frequent errors made by filers;

* The ultimate test for determining if the borrower's name is

correct;

* Filing on real estate related and as-extracted collateral;

* Determining the correct location for filing financing statements

and amendments;

* The multiple uses of the official amendment form;

* The Minor Errors Rule;

* The Composite Document Rule; and

* Much more.

The program is designed for loan officers, auditors, and other loan department personnel with responsibilities for filing and ensuring the accuracy of UCC documents. The program is presented at the intermediate level. An understanding of the basic requirements of Article 9 of the Uniform Commercial Code is assumed.


VIEW A 10 MINUTE SAMPLE
(requires Windows Media Player and IE).


About the speaker:
John Garvey John McGarvery is a shareholder and chairperson of the executive committee of Morgan & Pottinger, P.S.C. His practice concentrates in the representation of banks and other lenders in litigation, secured transactions and other matters under the Uniform Commercial Code. John is a member of the American Bar Association's Section of Business Law and the Committees on the Uniform Commercial Code, Commercial Financial Services and Banking Law; and the Subcommittees on Secured Transactions, Loan Workouts, and Banking and Commercial Litigation; and was a co-editor of the Association's newsletter on Banking and Commercial Litigation (1991-1993). He is also a member of The Conference on Consumer Finance. He chaired Kentucky's drafting committee for Revised Article 9. He is a member of the National Conference of Commissioners on Uniform State Laws.John is an adjunct professor at the University of Kentucky College of Law teaching secured transactions. He has taught hundreds of seminars on legal issues affecting financial institutions and credit extenders for organizations such as the Banking Law Institute, National Association of Retail Credit Attorneys, Practicing Law Institute, among others.

CD-ROM includes:

Complete presentation (including slides and audio)

Written Materials

Follow-up Q & A

You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This has been approved for 2.5 hours CRCM credit.