Maintaining your institution’s perfected security interest depends on properly completing and accurately filing the UCC-1. You can’t afford to make a mistake. This line-by-line training will explain how to properly complete and file the UCC-1 and UCC-3 Financing Statements.
- Properly complete every section of the UCC-1 Financing Statement and the UCC-3 Financing Statement Amendment
- Distinguish when the UCC-1 Addendum and the UCC-3 Addendum are required
- Determine when a termination is required, versus an amendment or assignment of an existing UCC filing
- Correct an inaccurate or improperly filed UCC-1 Financing Statement
- Properly proceed when a debtor changes his/her/its name or address
Filing a UCC-1 Financing Statement is the most frequently used method to perfect an institution’s security interest in collateral. Completing the UCC-1 form and determining the appropriate filing office can be tricky. An improperly completed or improperly filed UCC-1 can result in losing your institution’s perfected security interest. This webinar will explain how to properly complete each section of the UCC-1 and where to file it in every type of consumer and commercial situation. In addition, filing a UCC-3 Financing Statement Amendment is required in various situations, such as when your institution needs to extend, amend, assign, or terminate an existing UCC filing. Learn when you must file the UCC-3 and how to properly complete it.
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.