UCC: What You Need to Know About the Amendments

Many loans extended by commercial banks are secured by personal property, which is governed by Revised Article 9 of the Uniform Commercial Code. It is important for Commercial Lenders, Consumer Lenders and Loan Administrators to understand Revised Article 9 under the Uniform Commercial Code as it relates to collateral attachment and perfection.

This webinar will provide an overview of Revised Article 9, focusing on the most relevant factors bankers and administrators need to know to "Attach" and "Perfect" the most common forms of personal property.

In addition, we'll introduce the amendments to Revised Article 9, which have been approved by the Uniform Law Commission. The activation date for the amendments was July 1, 2013. 

These amendments provide greater guidance for:

  • The proper name of individuals to be inserted on the Financing Statements
  • Which name of a registered organization is recognized as the legal name
  • What to do if your borrower moves to a new location, and the moves impact on your collateral
  • And most important, new forms required to be used after 7/1/2013

The ultimate goal of this seminar is to explain how to document, close and record secured transactions covered by Revised Article 9 of the Uniform Commercial Code. Participants should leave with have a solid working knowledge for managing the most common commercial and consumer secured transactions governed by Revised Article 9.

Covered Topics:

  • Changes that went into effect 7/1/2013
  • Review of the new UCC Forms
  • Completing the Financing Statements
  • Filing the Financing Statements

Who Should Attend?

  • Senior Credit Officers
  • Senior Loan Officers
  • Loan Officers
  • Loan Operations Personnel
  • Loan Administrative Assistants/Secretary
  • Branch Managers
  • Loan Review Officers
  • Compliance Officers