Practice Subgroup

Uniform Commercial Code

Chuhak & Tecson's Banking Group has a deep understanding of all articles of the UCC and the issues raised by this statutory framework for both perfection of security interests, their priority and the necessities of the filing systems. Drafting of security agreements, terms of perfection (including where the rules require perfection by possession or by filing), the details of filing procedures and procedures for the handling of UCC Article 9 sales are well within the knowledge of our attorneys. More esoteric matters, such as proper name use when filing a financing statement (relevant to the search results for priority issues) are matters on which we are consulted by our clients, even where we are not otherwise involved. Our attorneys often find themselves acting as mentors and guides to this seemingly simple but constantly evolving body of law.