Uniform Commercial Code Rules: How to Comply to Attach and Perfect Secured Transactions
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:
- New collateral now 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
Senior Credit Officers, Loan Officers, Loan Operations Personnel, Loan Administrative Assistants and Secretaries, Branch Managers, Loan Review Officers, and Compliance Officers
“I wanted to pass along a communication thanking you for the UCC Webinar that I attended on April 2, 2015. It was a two hour program and while it did address the Uniform Commercial Code at a high level, it also provided good details on specific issues when collateralizing a loan via a UCC regulations. My department has a high number of individuals who are relatively new to commercial lending and specifically lending pursuant to the UCC. With this presentation, I will be able to address the more seasoned employees as well as those with next to no experience. Overall, it was a very practical webinar with materials that will provide value to me and my team going forward.” -Christopher K., Anchor Bank
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.
Most of his career has been spent in Credit Administration, Lending, Business Development, Loan Review, Management and Training & Development. He has managed loan portfolios representing a cross section of loan types including: Large Corporate, High Net Worth Individual, Middle Market Companies, Small Business, Real Estate and Non-Profit Organizations.
Mr. Johnson is now a training professional in the financial industry by leading various seminars covering important topics relating to issues in financial institutions. He teaches actively for fifteen state banking associations in the United States, Risk Management Association (RMA) and individual financial institutions nationwide. He co-authored a training course entitled “Lending to Service and Other Professional Organizations” for RMA in 2001.
Mr. Johnson earned a B.A. Degree in Accounting from Morehouse College in Atlanta; a MBA in Finance from John Carroll University in University Heights, Ohio; Banking diploma from Prochnow School of Banking at the University of Wisconsin and a Graduate Certificate in Bank Management from the Wharton School of Business at the University of Pennsylvania.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 CE Credits
- Live Webinar which includes 5 Day On-Demand - $265
- Six Month On-Demand – $295
- Live plus Six Month On-Demand – $365
- CD-ROM (Includes Six Month On-Demand) – $325
- Premier (Includes all options) – $395
- Additional Locations – $75
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