Many loans extended by commercial banks are secured by personal property, which is governed by Revised Article 9 of the Uniform Commercial Code (UCC). The UCC governs secured transactions by taking most kinds of collateral for loans. It answers questions such as:
- How to protect rights to collateral against the claims of others.
- How to describe collateral in security agreements and financing statements.
- Where to file financing statements.
Commercial/Consumer Lenders and Loan Administrators must understand Revised Article 9 as it relates to collateral attachment and perfection of personal property. We’ll provide an overview of the UCC and focus on the most relevant factors bankers and administrators need to know to perform routine duties and protect the bank’s security interests in assets taken as collateral. We’ll focus on practical application of UCC rules. Highlights will include:
- Collateral covered by Revised Article 9
- Revised definitions of existing collateral covered by Revised Article 9
- Completing the Financing Statements properly
- Utilizing the proper collateral descriptions on Security Agreements and Financing Statements
- Filing the Financing Statements in the proper location and other areas of concern.
Leave with an understanding of how to document, close and record secured transactions covered by Revised Article 9 of the UCC. Get good working knowledge for managing the most common commercial and consumer secured transactions governed by Revised Article 9.
- The Loan Documentation Process
- Collateral Definitions
- Attachment and Perfection Rules
- Collateral Descriptions on Security Agreements & UCC Financing Statements
- Completing the Financing Statements to avoid rejection and provide legal protection
- Filing the Financing Statement in the proper location depending upon the type of collateral obtained
- Review the major 2013 Amendments particularly as it relates to the name of the debtor to be used on a Financing Statement and maintaining perfection after a debtor changes their name or location
Who Should Attend?
Senior Credit Officers, Loan Officers, Loan Operations Personnel, Loan Administrative Assistants and Secretaries, Branch Managers, Loan Review Officers, and Compliance Officers
Continuing Education (CE) Credits
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.View Delivery Options
Jeffery W. Johnson started his career with SunTrust Bank in Atlanta as a Management Trainee and progressed to Vice President and Senior Lender of SouthTrust Bank and Senior Vice President and Commerci... read more.