The Practical Lender: 9 Common Misconceptions

Topics:
Regulatory issues
Tags:
Banking,
Commercial Lending,
Financial Services,
Misconception
Source:
Vedder, Price, Kaufman & Kammholz

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Overview: Revised Article 9 to the Uniform Commercial Code (“Revised Article 9”) went into effect in most jurisdictions on July 1, 2001 (the “Effective Date”) and in all jurisdictions as of January 1, 2002. Revised Article 9 had a primary intended purpose of streamlining secured transactions. In time, this goal will be met. However, in the short term, the transition to Revised Article 9 from Article 9 as it existed prior to the Effective Date (“Former Article 9”) has resulted in a number of misconceptions and some general confusion within the commercial lending community. This article addresses what is seen as the most common misconceptions and provides practical advice in avoiding the pitfalls relating to such misconceptions.

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Format: PDF | Size: 58KB | Date: Apr 2002 | Pages: 4

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