Securing Collateral Part 2: Purchase Money Security Interests: Taking Priority Over a Perfected Creditor
StreamedSep 20, 2022Duration90 minutes
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Your institution is at a disadvantage if you don’t understand the special rules regarding collateral.
Make it a priority to understand how to properly take priority over another creditor with Part 2 of this two-part series.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Explain how your institution can obtain priority over an existing perfected creditor
- Define the specific steps and timeframes that must be satisfied under UCC Article 9 to qualify for a priority purchase money security interest
- Understand the special rules for different types of collateral
- Identify the situations when your institution must give prior notice to existing creditors
- Fight back against another creditor that claims a purchase money security interest over your existing perfected security interest
Part 2 of this two-part series will explain how your institution can obtain a priority purchase money security interest even though another secured party already holds an existing perfected security interest in the collateral. UCC Article 9 details the steps that must be taken and the timing that must be satisfied to obtain priority over an existing perfected creditor and the steps and time periods differ depending on the type of collateral. Don’t operate at a disadvantage by not understanding these special rules! Join us for a deep dive into purchase money security interests.
WHO SHOULD ATTEND?
This informative session will benefit everyone involved in the credit process, including loan operations personnel, loan officers, underwriting staff, compliance personnel, auditors, attorneys, and managers.
- Checklist of procedures to obtain priority purchase money security interest (covering all different collateral types)
- Form of notice to be sent to existing secured parties
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
Spencer Fane LLP
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