Webinar: UCC Article 9 Default Provisions: What Secured Creditors Need to Know

Wednesday, April 17, 2013

Speaker: Elizabeth Fast, Spencer Fane Britt & Browne, LLP

About the Program

Upon the event of a default, UCC Article 9 authorizes a credit union to only take certain actions and only after specific notice is given to the member. This webinar will explain the proper way for a credit union to handle defaults and avoid costly mistakes. It will examine various types of defaults (both payment and nonpayment) and how some credit unions unwittingly waive defaults through their course of dealing. This webinar also will explain the repossession process under the UCC, starting with the required notices and ending with the sale of collateral at a public or private sale. The most-common errors in the repossession process will be addressed.

HIGHLIGHTS

What constitutes an event of default?
When does a course of dealing waive a member’s default?
Is an “insecurity clause” enforceable?
Why is an acceleration clause important?
When is a right-to-cure notice required?
When is it appropriate to conduct self-help repossession?
What is required for a commercially-reasonable sale?

Related Files

Printable Brochure (Adobe PDF File)