CLASNotes Blog

According to the Uniform Commercial Code, a UCC Financing Statement is only effective if it properly identifies the debtor. A UCC filings that fails get the debtor name right will not perfect the underlying security interest and will not provide the[..]

Whether setting up a brand new business or expanding an existing one, it is critical to manage business license requirements carefully. Failing to obtain or renew a business license or permit can lead to costly penalties and other negative consequences[..]

Secured parties must file their UCC Financing Statements quickly and correctly in order to perfect their security interest and gain a priority position to collect. Even small mistakes in the UCC filing process can prove costly since they open the door[..]

If you own or operate a corporation, limited liability company (LLC), or limited partnership (LP), one of the main legal compliance steps you'll need to address is the appointment of a Registered Agent, also known as an agent for service of process (SOP).

By Jim Newman, Loeb Term Solutions

Liens, in and of themselves, are neither bad nor good; they just are. When a company needs financing or refinancing, the new lender will always run a lien search and find exactly what liens are currently encumbering the[..]

When a corporation is growing and expanding into a new geographic region, it can be difficult to determine if it is necessary to formally qualify in the new state - and figuring out how to facilitate the qualification can be daunting. In this article, we[..]

During the question and answer period following a recent CLAS webinar, Common UCC Filing Mistakes and How to Avoid Them, an attendee asked a great question. She asked, “When a UCC is terminated, what happens when the UCC is then continued before its[..]

It’s important for a business to maintain corporate good standing. Being in good standing means that the business has satisfied all of the statutory requirements that have been imposed on it by the state.

When performing a UCC search as part of a due diligence investigation, it is imperative to search for liens under the right party names. Conducting searches under the incorrect names, excluding important parties from the search effort or failing to[..]

When a Limited Liability Company (LLC) is growing and expanding into a new geographic region, it can be difficult to determine if it is necessary to formally register as a foreign LLC in the new state - and figuring out how to facilitate