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A. Special Collateral Types: Deposit Accounts, Securities Accounts, and Letters of Credit; B. Equity Interest as Collateral; C. Highlights of Forthcoming Changes

Recorded on: Jan. 20, 2011
Running Time: 02:02:26

Full Transcript:


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Taken from the Web Program Secured Transactions 2011: What Lawyers Need to Know about UCC Article 9 recorded January, 2011 in New York.

Lecture Topics  [02:02:26]

A. Special Collateral Types: Deposit Accounts, Securities Accounts, and Letters of Credit; B. Equity Interest as Collateral; C. Highlights of Forthcoming Changes  [02:02:26]
  • Why you choose a particular method of perfection based on your type of collateral
  • Types of collateral that are perfected automatically, upon attachment, or by control
  • Priority of non-filing creditors over filing creditors
  • Perfecting a security interest in a securities account
  • Recent developments in negotiating securities account control agreements
  • How do you know it’s a “security”?
  • Using the ABA Model Deposit Account Control Agreement

B. Equity Interests as Collateral

  • Effects of UCC characterization of equity interests
  • UCC negation of anti-assignment provisions (does it apply?)
  • Effects of entity statutes
  • Securities laws impact on secured party remedies

C. Highlights of Forthcoming Changes

  • Financing statements: determining the name of an individual debtor and a registered organization debtor
  • Statutory or common law trusts financing statement requirements 
  • New rules for after-acquired property when a debtor changes its location or new debtor becomes bound by the original debtor's security agreement
  • Treatment of hybrid chattel paper
  • Clarification of anti-assignment provisions
  • Secured party’s right to “correct” record
  • Clarification of enforcement rules
The purchase price of this Web Program segment includes the following article from the Course Handbook available online:
  • Special Collateral Types: Deposit Accounts, Securities Accounts, and Letters of Credit
    Penelope L. Christophorou
  • Equity Interests As Collateral
    Lynn A. Soukup
  • A Summary of the 2010 Amendments to Article 9 of the Uniform Commercial Code
    Edwin E. Smith
  • A Summary of the Provisions of Article 9 of the Uniform Commercial Code
    Edwin E. Smith
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