United Corporate Services provides search and filing results tailored specifically to our clients’ needs. Reports sorted by individual debtor per page, or a more comprehensive summary report of all search results on one page, both are easily provided in either .pdf format for secure closings or in Excel format for easy manipulation into your existing closing binder. United Corporate Services files and searches in over 3,000 jurisdictions in the U.S. Understanding their unique requirements ensures accurate processing of all your UCC transactions. Revised Article 9 is once again being “revised,” and we have done the legwork necessary to walk with you through your projects to ensure they are completed timely and accurately.
What do you understand about Bankruptcy Laws - David Ford Avon CTDavid Ford Avon Ct
everyone should understand about creditor's rights and bankruptcy laws according to David Ford Avon CT. These laws can help a person if he had a situation in the future.
What do you understand about Bankruptcy Laws - David Ford Avon CTDavid Ford Avon Ct
everyone should understand about creditor's rights and bankruptcy laws according to David Ford Avon CT. These laws can help a person if he had a situation in the future.
This case involves a dispute about who is entitled to death benefits under a life insurance policy. On one side of the dispute is the insured's wife at the time of his death. On the other side are his children from a prior marriage and co-trustees of the insured's irrevocable life insurance trust. Both sides claimed they are the rightful beneficiary of the policy and thus entitled to the death benefits.
Broad Application of Medicare’s Mandatory Insurer Reporting Requirements to N...NationalUnderwriter
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This article attempts to demystify some of the issues regarding possible extraterritorial application of the
requirements under Section 111 of the Medicare, Medicaid, and SCHIP Extension Act of 2007, comments on
claim situations that frequently may confront non-U.S. insurers, and alerts readers to the need to evaluate the potential Section 111 ramifications of claim payments to Medicare beneficiaries.
The FDIC is proposing regulations that would impose requirements for foreign currency futures, options on futures, and options that an insured depository institution supervised by the Federal Deposit Insurance Corporation engages in with retail customers.
Over the last few years we have seen some significant adjustments and developments in Revised Article Nine. Starting with 2013 statutory changes and now recent court cases have created a new environment that due diligence experts must adjust to in order to maintain their high levels. This one hour seminar explores some of these changes and how they impact the due diligence work flow and the relationships between the interested parties.
John Darer of 4Structures in Stamford, CTJohn Darer
John Darer of 4Structures in Stamford, CT is an AM Best Recommended Structured Settlement Expert, Sudden Money® Advisor, Settlement Planner, Watchdog. John Darer is a well-known highly skilled creative structured settlement expert, Certified Financial Transitionist, Registered Settlement Planner, licensed insurance agent, listener, communicator, thought leader and problem solver.
This case involves a dispute about who is entitled to death benefits under a life insurance policy. On one side of the dispute is the insured's wife at the time of his death. On the other side are his children from a prior marriage and co-trustees of the insured's irrevocable life insurance trust. Both sides claimed they are the rightful beneficiary of the policy and thus entitled to the death benefits.
Broad Application of Medicare’s Mandatory Insurer Reporting Requirements to N...NationalUnderwriter
Broad Application of Medicare’s Mandatory Insurer Reporting Requirements to Non-U.S. Property & Casualty Carriers Flouts Supreme Court Limitations on Extraterritorial Reach of U.S. Law By Richard L. McConnell and Kathryn Bucher
This article attempts to demystify some of the issues regarding possible extraterritorial application of the
requirements under Section 111 of the Medicare, Medicaid, and SCHIP Extension Act of 2007, comments on
claim situations that frequently may confront non-U.S. insurers, and alerts readers to the need to evaluate the potential Section 111 ramifications of claim payments to Medicare beneficiaries.
The FDIC is proposing regulations that would impose requirements for foreign currency futures, options on futures, and options that an insured depository institution supervised by the Federal Deposit Insurance Corporation engages in with retail customers.
Over the last few years we have seen some significant adjustments and developments in Revised Article Nine. Starting with 2013 statutory changes and now recent court cases have created a new environment that due diligence experts must adjust to in order to maintain their high levels. This one hour seminar explores some of these changes and how they impact the due diligence work flow and the relationships between the interested parties.
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See the rest of our Seminars and Presentation Materials on our website: http://www.johnbales.com/resources/seminars-and-presentation-materials/
The Uniform Commercial Code (“UCC”) is a uniform act that was established to harmonize the laws of sales and commercial transactions. It has been substantially adopted in all 50 states and the District of Columbia. The UCC is divided into 11 Articles with each one addressing a different area of commercial law. Article 9 governs security interests in personal property and contains detailed rules regarding the creation, attachment, and perfection of security interests; the relative priorities of competing security interests; and remedies available to a creditor upon a borrower's default. The navigation of the debtor-creditor relationship is at the heart of any bankruptcy proceeding. This webinar examines some of the key issues involving the interaction between a debtor and its secured creditors both before and after the filing of a bankruptcy, including the pre-bankruptcy perfection and priority of security interests, the post-bankruptcy protection of a secured creditor’s rights in a debtor’s collateral, and the options available for the parties to address and administer such collateral in the context of a bankruptcy proceeding.
Part of the webinar series: BANKRUPTCY INTERSECTIONS 2022
See more at https://www.financialpoise.com/webinars/
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FCS 3450 HOMEWORK #41.Thomas Franklin arrived at the following t.docxmydrynan
FCS 3450 HOMEWORK #4
1.
Thomas Franklin arrived at the following tax information:
Gross salary, $46,660
Interest earnings, $225
Dividend income, $80
One personal exemption, $3,400
Itemized deductions, $7,820
Adjustments to income, $1,150
What amount would Thomas report as taxable income?
2.
If Lola Harper had the following itemized deductions, should she use Schedule A or the standard deduction? The standard deduction for her tax situation is $5,450.
Donations to church and other charities, $1,980
Medical and dental expenses that exceed 7.5 percent of adjusted gross income, $430
State income tax, $690
Job-related expenses that exceed 2 percent of adjusted gross income, $1,610
3.
What would be the average tax rate for a person who paid taxes of $4,864.14 on a taxable income of $39,870?
4.
Based on the following data, would Ann and Carl Wilton receive a refund or owe additional taxes?
Adjusted gross income, $46,186
Itemized deductions, $11,420
Child care tax credit, $80
Federal income tax withheld, $4,784
Amount for personal exemptions, $6,800
Average tax rate on taxable income, 15%
5. Would you prefer a fully taxable investment earning 10.7 percent or a tax-exempt investment earning 8.1 percent? Why? (Assume a 28 percent tax rate.)
6. On December 30, you decide to make a $1,000 charitable donation. If you are in a 28 percent tax bracket, how much would you save in taxes for the current year? If that tax savings was deposited in a savings account for the next five years at 6 percent, what would be the future value of that account?
1
Assignment 2: JPMorgan Chase
Strayer University
LEG 100
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Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
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Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
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This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
2. Introduction
The following information is covered in this presentation:
-Creation & evolution of the UCC
-What does perfection do?
-Upcoming revisions to RA9
-Where & what forms to file?
-Types of Searches to perform
-Contact UCS
3. Creation of the UCC
Created in 1952, the Uniform Commercial Code (UCC)
consists of uniform acts coordinating the sale of goods and
other commercial transactions throughout the United
States.
4. Debtor & Secured Party
The code was written to govern security interests in a way
that protects potential creditors & other interested parties.
To do this, the code requires a lender (known as a secured
party) to take certain actions before it can enforce the
security interest against the claims of third parties. This is
known as perfection.
5. What does perfection do?
Allows a company or individual (known as the secured
party) to obtain an enforceable security interest in assets
pledged by the borrower (known as the debtor) when taking
out a loan.
The most common method of perfection is to file a public
notice of the security interest.
6. Risk & Reward
Because of the public notice, the secured party does not
need to take possession of the collateral & the debtor is free
to continue to use it to repay their obligation.
Once the debtor has given the secured party a special claim
on its assets, that collateral is no longer available to satisfy the
claims of the other creditors.
By granting a security interest it makes credit less expensive
and more available to the debtor.
7. Revised Article 9
Effective in most states on July 1, 2001
Transition ended in most states on June 30, 2006.
Significant Changes:
Filing Location – File where the debtor is located not the
collateral
Standard National Form
Elimination of signatures
Exact debtor names
Generic Collateral Descriptions allowed
8. Proposed revisions to UCC RA 9
Proposed revisions to the Uniform Commercial Code
Article 9 clarify confusion regarding how a debtor’s
name should be listed on financing statements.
Although these changes are not drastic, they are an
important reminder that lenders should exercise
caution when identifying the debtor on financing
statements. The Uniform Law Commission proposed
these changes and has recommended a nationwide
effective date of July 1, 2013 with a five year transition
period.
9. Proposed revisions to the Uniform
Commercial Code Article 9-503
For registered entities: The proposed revisions were
designed to make it easier for lenders to determine the
correct name of entities registered with a particular
state. That means the correct name for the financing
statement is the name on the “public record” most
recently filed in the jurisdiction in which the entity is
organized.
10. Proposed revisions to the
Uniform Commercial Code Article
9-503
For individual debtors, there are two options that states
may adopt:
(1) the “only if” option: If the debtor has a driver’s license or
other state issued identification that has not expired, the financing
statement may use the name on the driver’s license or other state
issued identification. If, and only if, the debtor does not have a
driver’s license or other state issued identification, the financing
statement may use the debtor’s first personal name and surname;
(2) the “safe harbor” option: The financing statement sufficiently
names the debtor by providing (a) the debtor’s individual name as
determined by state law, (b) the debtor’s surname and first personal
name, or (c) the name on an unexpired driver’s license or other
state issued identification.
11. What are the General rules for
where to file?
Registered Entities located in state of organization
Non-Registered Entities located in state of chief executive
office
Individuals located in state of residence
Foreign debtors deemed to be located in D.C.
12. When General rules don’t apply.
Location of the “Collateral” controls in these
situations:
Fixture Filings
Timber to be cut filings
As-extracted Collateral filings
Agricultural lien filings (RA 9-301 and 9-302)
13. What to file?
The National Forms are now, by statute, the recognized
standard:
1. UCC1: Financing statement
2. UCC3: Amendment
3. UCC5: Correction statement
4. UCC11: Search request
States have no need to create and maintain State Specific
Forms
14. Financing Statement:UCC1
The financing statement is the primary record for
providing notice of a security interest. It requires the
following information to be effective:
1. Debtor’s legal name, address, state of organization,
org. id if applicable
2. Secured Party’s name & address
3. Collateral description
4. If a fixture, you must provide a land description
15. Amendment: UCC3
The UCC3 allows you to amend the UCC1 in any of the
following:
1. Amend or replace or add debtor or secured party
2. Continue the effectiveness of the lien
3. Assign the lien to a different debtor or secured
party
4. Amend the collateral description
5. Terminate the lien
16. Correction Statement:UCC5
The correction statement was not intended to have any
effect on the record. You can’t “undo” what was already
filed. Instead, the form allows a party to put comments in
the record when the party believes the UCC contained
inaccuracies or was wrongfully filed.
17. Performing Searches
Before accepting a security interest, a lender will want to
determine if there are existing liens. Hence, a UCC search is
conducted.
Once the search is complete, a potential creditor can make
arrangements to address any added risk.
18. Where should you search?
For a registered company, the search should begin in the
state of organization.
For an unregistered company, the search begins with the
location of its place of business. If the debtor has more than
one place of business then search where the chief executive
office is located.
For International entities the search is conducted with D.C.
Register of Deeds.
19. Types of searches you can
conduct with United Corporate
Services, Inc.
UCC Liens
Federal Tax Liens
State Tax Liens
Judgment Liens
Litigation Searches
Property Searches
Title Searches
20. Information needed to start a
search…..
The Debtor’s Correct Legal Name
Must match what listed as a public record
State or county where debtor is registered
The Debtor’s Prior Names
This Is Strongly Recommended Since Filings Under Prior Names
Usually Still Remain Effective
If a fixture, judgment, state tax lien requires the address
21. How United Corporate Services,
Inc. can help you with your UCC
project
United Corporate Services provides search and filing results
tailored specifically to our clients’ needs. Reports sorted by
individual debtor per page, or a more comprehensive
summary report of all search results on one page, both are
easily provided in either .pdf format for secure closings or
in Excel format for easy manipulation into your existing
closing binder.
United Corporate Services files and searches in over 3,000
jurisdictions in the U.S.
22. Points to remember
Security interest is a tool that lenders use to manage risk in
commercial transaction.
The most common method of perfection is to file a public
notice of security interest.(UCC1)
Make sure the names recorded are correct.
A UCC3 can amend or terminate a UCC1.
UCC searches reveal existing liens and can determine the
relationship between borrower and lender.
23. Where can I get more information?
Email getanswers@unitedcorporate.com or contact a Project
Manager directly.
Request a username and password for UCS Connect at r
equestpassword@unitedcorporate.com
Visit UCC Services at www.unitedcorporate.com
Editor's Notes
The Uniform Commercial Code is the oldest and most intricate uniform act established by the National Conference of Commissioners on Uniform State Laws (NCCUSL). Because it was created by a private institution, the UCC is not a law unless it is enacted by a state.
What does sec. interest mean? If I want a loan for 10,000 for my widget co. I grant the Sec. Party the authority to take my office building and widgets if I am unable pay off the loan.
In the event of a default or bankruptcy, the SP now has the right to sell the debtor’s collateral and use the proceeds to satisfy the obligation.
The benefits of the security interest come at a price
Where can the client get this information: for the debtor, the cert. of inc. and for the SP the Collateral or Sec. Agrmt. Collateral descriptions can be general. Fixtures.
Continuations: To extend the life of the financing statement by another five years Party Amendments: To change or add critical information about the Debtor or the Secured Party Collateral Amendments: To Add collateral, Remove collateral, or Restate the entire collateral description Assignments: To transfer rights from one secured party to another Terminations:To extinguish the lien prior to its five year lapse period : To change or add critical information about the Debtor or the Secured Party Collateral Amendments: To Add collateral, Remove collateral, or Restate the entire collateral description Assignments To transfer rights from one secured party to another Terminations To extinguish the lien prior to its five year lapse period
The name of this form is somewhat misleading. It cannot be used to “correct” anything. Corrections to the record can only be done by use of an amendment form.
1. UCC liens – this search will look for any UCC filings that may have been filed by another secured party. 2. Federal tax liens – federal tax liens are also known as IRS tax liens 3. State tax liens, which are employment tax liens from the state 4. Judgment liens – judgment liens are filed as the result of a judgment from a court case Litigation searches – this type of search will look for any open/pending suits involving your debtor. The outcome of the case may affect your lien position. Litigation searches are done at the federal and state/county level. We offer different types of search packages, the most common being the 4-part search, which includes UCCs, Federal Tax Liens, State Tax Liens, & Judgment Liens. This 4-part search is performed at the county level in addition to a State UCC search.