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.
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?