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Thursday, December 3, 2020

UCC Article 9: Perfection Pitfalls & Proper Enforcement

Start Date: 6/3/2020 1:00 PM MDT
End Date: 12/3/2020 2:30 PM MST


Organization Name: Independent Bankers of Colorado

Contact:
Tara F. Hunter
Email: thunter@ibcbanks.org
Phone: (303) 832-2000

UCC Article 9: Perfection Pitfalls & Proper Enforcement
1:00 pm – 2:30 pm MT

Collateral rarely repays loans.  If your borrower defaults, do you know your institution’s lien priority?  Are you protected from other lienholders?  How do you know?  Join us as we investigate the key lien perfection techniques needed to ensure your loans are secured as intended.
 
AFTER THIS WEBINAR YOU’LL BE ABLE TO:

  • Understand how to obtain a security interest in collateral
  • Determine the important terms to include in a security agreement to protect your institution
  • Use the proper method of perfection for each type of collateral – UCC-1 filing versus possession versus third-party control agreement
  • Explain the priority of competing security interests
  • Create a purchase money security interest with priority over an existing UCC-1 filing
 
WEBINAR DETAILS
Lenders must properly obtain and perfect a security interest in collateral to maintain priority.  Making a mistake in the perfection process generally results in large losses to the lender.  This webinar will explain how to obtain and perfect security interests in UCC Article 9 collateral, including accounts, equipment, inventory, farm products, general intangibles, contract rights, stocks, and mutual funds.  It will address situations where filing a UCC-1, taking possession, or obtaining a third-party control agreement is required for perfection, and explain which method gives your institution priority.  We will also discuss how your institution can create a purchase money security interest to take priority over an existing UCC-1 filing.
 
WHO SHOULD ATTEND?
This informative session will benefit loan officers, loan operations personnel, credit administration personnel, collection staff, compliance officers, attorneys, managers, and others involved in the collateral perfection process.
 
TAKE-AWAY TOOLKIT
  • Copy of UCC-1 Financing Statement and Addendum, including instructions
  • Sample form of control agreement
  • Employee training log
  • Interactive quiz

  MEET THE PRESENTER
Elizabeth Fast, JD, CPA, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions.  Elizabeth is the head of the firm’s training division.  She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University.  In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant.  Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions.  She is a member of the Missouri State Banking Board by appointment of the Governor.



THREE REGISTRATION OPTIONS – WHAT YOU GET
1. Live Webinar Includes
  • One connection to the Live Webinar
  • Handout and Take-Away Toolkit
  • Available on desktop, mobile & tablet
  • Presenter’s contact info for follow-up
2. Recorded Webinar Includes
  • Available 6 business days following Live date
  • Handout and Take-Away Toolkit
  • Available on desktop, mobile & tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your institution
  • Presenter’s contact info for follow-up
3. Purchase the BOTH Option to receive all the benefits listed above!