CSC’s survey was the first comprehensive overview of UCC Article 9 best practices and insights from lenders, leasing enterprises, factoring organizations and law firms.
Wilmington, DE (PRWEB) April 02, 2014
Corporation Service Company® (CSC®) has announced the release of another educational resource based on its landmark survey of UCC Article 9 professionals—a white paper about the impact of the 2010 Amendments to UCC Article 9 ("2010 Amendments" or the "Amendments").
The 2010 Amendments were a major focus of CSC’s 2013 survey, which was the first comprehensive overview of UCC Article 9 best practices and insights from lenders, leasing enterprises, factoring organizations and law firms. Many survey respondents indicated that they’ve struggled to stay informed about the Amendments and report that their workflows have been affected by evolving legislation and forms.
CSC’s latest white paper examines the results of that survey as they relate to the 2010 Amendments, including respondents' comments on common issues and their lingering questions.
“We hope this white paper will reassure UCC professionals that their peers are struggling with many of the same questions around the 2010 Amendments,” said Mark Rosser, vice president for CSC. “And we hope that we’re able to clear up some of their concerns, both with this white paper and with the other educational resources we plan on releasing soon.”
The 2010 Amendments to UCC Article 9 took effect in most states on July 1, 2013. But as with many "uniform" laws, the changes took effect in a far-from uniform manner. Despite the effective date provided in the official text, states enacted the Amendments to take effect at different times during the year (and a few states have yet to pass the relevant legislation). States also adopted different alternatives for determining the correct name of an individual debtor as well as different informal procedures for accepting the "new" or "old" UCC forms.
To download a free copy of CSC’s white paper about the impact of the 2010 Amendments to UCC Article 9, click here.
Corporation Service Company® (CSC®), a privately held business and legal services organization, provides matter management, corporate compliance, and trustee services for companies and law firms worldwide; digital brand services for top global brands; and due diligence and transactional services for the world's largest financial institutions. Founded in 1899, CSC has more than 1,800 employees throughout North America, Europe, Africa and the Asia-Pacific region. To learn more about CSC, visit http://www.cscglobal.com.