Filing UCC Financing Statements: Getting it Right!

Why Should You Attend:

This course will provide an overview of the revised Article 9 and will focus on the most relevant factors bankers and administrators need to know in order to attach and perfect the most common forms of personal property. The course will focus on the practical application of the rules under the revised Article 9 of the Uniform Commercial Code including:

• Types of personal property covered by the revised Article 9 and their legal definitions
• Accurately preparing UCC financing statement forms
• Utilizing the proper collateral descriptions on security agreements and financing statements
• Filing the financing statements in the proper location and other areas of concern

In addition, this course will introduce the amendments to the revised Article 9 which have been approved by the Uniform Law Commission and are waiting to be introduced into the legislature and passed by all fifty states. The effective date for the amendments to be activated was July 1, 2013. These amendments provide greater guidance for the name of the debtor to be inserted in the financing statement and to clarify which name of a registered organization is recognized as its legal name. The amendments also deals with perfection issues arising from property acquired after the debtor (individual or organization) moves to a new jurisdiction.

Areas Covered in the Webinar:

1. Changes that Went into Effect from 7/1/2013:
1. Review of the new UCC Forms
2. Completing the Financing Statements
3. Filing the Financing Statement
2. Getting the Processes Right:
1. Solicitation
2. Application
3. Investigation
4. Evaluation
5. Decision
6. Documentation
7. Administration
8. Collection
3. The Loan Documentation Process
4. Types of Collateral Governed by the UCC
5. Attachment and Perfection Rules
6. Collateral Definitions and Descriptions on Security Agreements and UCC Financing Statements
7. Review of UCC Forms
8. How to Complete and File
9. Indiana Administrative Rules and 2010 Amendments to the UCC
10. Financing Statements and the Uniform Law Commission

Who Will Benefit:

• Credit Officers
• Risk Managers
• Commercial and Consumer Loan Officers
• Commercial Branch Officers
• Credit Analysts
• Auditors
• Loan Review Officers
• Accounting Personnel
• Directors

Instructor Profile:

Jeffery Johnson's banking career spans 36 years working for large, regional and community banks. He started his career with SunTrust National Bank in Atlanta as a management trainee and progressed to vice president and senior lender for SouthTrust Bank (a large Southeastern regional bank) and senior vice president and commercial banking division manager for Citizens Trust Bank of Atlanta (community bank).

Most of his career has been spent in credit administration, lending (commercial, consumer and real estate), business development, loan review, management, and training and development. He has managed loan portfolios representing a cross section of loan types including: large corporate, high net worth individuals, middle market companies, small businesses, real estate and non-profit organizations and managed several loan officers with portfolio management responsibilities.

Mr. Johnson is now a training professional in the industry leading various banking seminars, both within the US and internatinally. He teaches actively for twenty-two state banking associations and community banking associations in the United States, and for the Risk Management Association (RMA) and individual banks nationwide. He co-authored a training course entitled "Lending to Service and Other Professional Organizations" for RMA in 2001.

In order to stay abreast of issues facing banks, Mr. Johnson engages in loan reviews for his client banks. During an engagement, he reviews loans of all sizes to determine creditworthiness; compliance with banking rules and regulations; compliance with the bank's internal credit policy; accuracy of the loan grade; completeness of the documentation file and other aspects such as portfolio trends, performance and capital adequacy.

Mr. Johnson earned his B.A. in Accounting degree from Morehouse College in Atlanta, GA; MBA in Finance from John Carroll University in Cleveland, Ohio; and his banking diploma and certification from the Prochnow School of Banking at the University of Wisconsin-Madison and the First American Management Institute at the University of Pennsylvania's Wharton School of Business.

Topic Background:

Many loans extended by commercial banks are secured against personal property which is governed by the revised Article 9 of the Uniform Commercial Code. It is important for commercial lenders, consumer lenders and loan administrators to understand the principles of the revised Article 9 under the Uniform Commercial Code as it relates to collateral attachment and perfection.

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