What You Need to Know About the Uniform Commercial Code
Many loans extended by commercial banks are secured by personal property which is governed by Uniform Commercial Code (“UCC”). It is important for Commercial and Consumer Lenders and Loan Administrators to understand the principles of the UCC as it relates to collateral attachment and perfection.
This course will cover the impact of the Uniform Commercial Code on secured transactions and will focus on the most relevant factors bankers and administrators need to know to stay in compliance with this very important Code. The course will focus less on theory and more on the practical application of the rules under the UCC. The areas to be highlighted include:
- Types of collateral covered by the UCC
- Definitions of existing collateral covered
- Review and completion of UCC Financing Statement forms properly
- Importance of 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 ultimate goal of this seminar is to provide the participants with an understanding of how to document, close and record secured transactions that are covered by the Uniform Commercial Code. After taking this course the participant should have a good working knowledge of managing the most common commercial and consumer secured transactions governed by the Uniform Commercial Code.
- How the Uniform Commercial Code affects the Loan Documentation Process
- Review Collateral Definitions and Proper Collateral Classification
- Types of Collateral Governed by the Uniform Commercial Code
- Attachment and Perfection Rules
- Collateral Descriptions on Security Agreements & UCC Financing Statements
- Completing the Financing Statements
- Filing the Financing Statement
- Senior Credit Officers
- Loan Officers
- Loan Operations Personnel
- Loan Administrative Assistants/Secretary
- Branch Managers
- Loan Review Officers
- Compliance Officers
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 7 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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