Types of Personal Property Covered by Article 9 and Their Legal Definitions
There are eleven substantive articles in the Uniform Commercial Code (UCC). Out of the eleven, Article 9, governs the secured transactions in personal property or fixtures. UCC Article 9 monitors enforcement and creation of security interests in intangible property, fixtures and movable properties. It governs secured transactions in all fifty states of the United States, where security interests are taken in personal property.
In this 60-minute session, Jeffery W. Johnson will provide an overview of Article 9 and will focus on the most relevant factors bankers and administrators need to know in order to "Attach" and "Perfect" the most common forms of personal property. Jeffery will focus less on theory and more on the practical application of the rules under Article 9 including:
Types of personal property covered by Article 9 and their legal definitions
Preparing all UCC Financing Statements Forms properly to insure perfection
Utilizing the proper collateral descriptions on Security Agreements and Financing Statements
Filing the Financing Statements in the proper location and other areas of concern.
The loan documentation process
Introduction and history of the UCC Article 9
Types of collateral governed by the UCC
Collateral descriptions on Security Agreements & UCC Financing Statements
Completing the Financing Statements
Case studies, charts, and step by step analysis to certain occurrences from our charts and graphs
Review of UCC forms
Common errors when completing UCC forms
Completing and filling financial statements
Who should attend
This program will benefit professionals who work in the banking, credit, and financial services industry at the middle and upper management levels.
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 Commercial Banking Division Manager for Citizens Trust Bank of Atlanta.
Disclaimer: The content herein does not represent any association between CFPB and Eli Financial LLC. CFPB neither endorses any product of Eli Financial LLC nor warrants accuracy of the content hereto.