Due Diligence Guideline

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Are you a banker or attorney working on closing a financing deal? Utilize our UCC Due Diligence Guideline (below) to double check that you’re full filing all of your pre and post closing due diligence.

LIEN SEARCHES

Names to be Searched Under Revision to Revised Article 9

  • For individual debtors in “A” states use valid Driver’s License name.
  • For individual debtors in “B” states it is recommended to search many name variations.
  • For organizations, use the registered name that is found on the organic document.

Secretary of State

  • UCC Filings
  • Federal Tax Liens *
  • State Tax Liens*
  • Judgment Liens* (Available in some state level jurisdictions)

County Recording Office

  • Provide name of county and/or city
  • UCC/Fixture Filings
  • Federal Tax Liens
  • State Tax Liens
  • Judgment Liens

LITIGATION

Results are provided for pending/open civil litigation as defendant. Please indicate if plaintiff, closed or criminal searches are needed. Some jurisdictions have multiple court levels. Our default search is equivalent to our state Superior Court.  Lower courts can be searched upon request.

County Court of General Jurisdiction

  • Provide name of county and/or city
  • Suits
  • Judgments

US District Court

  • Provide District to be searched or name of county and/or city so District can be determined
  • Suits
  • Judgments

BANKRUPTCY

US Bankruptcy Court

  • Provide District to be searched or name of county and/or city so District can be determined.
  • Pending Bankruptcy

PREPARE/SUBMIT UCC/FIXTURE FILINGS

Debtor name rules under Revision to Revised Article 9

  • Individual debtors in “A” states use valid Driver’s License name.
  • Individual debtors in “B” states are recommended to file using name variations.
  • Organizations; use the registered name that is found on the organic and subsequent amendments in their domestic state of Incorporation.

Secretary of State

  • UCC – Personal Property

County Recording Office

  • UCC/Fixture; Real Estate Related Collateral

UCC SEARCH TO REFLECT

  • Secretary of State
  • County Recording Office

CORPORATE RETRIEVAL

In order to verify status and actual name and domestic jurisdiction of organization.

  • Certificate of Good Standing (to verify status of entity)
  • Certified/Plain copies of Charter Documents (to verify actual name of organization)
  • Annual Report (current officers/directors or managers/members- if applicable)

*eZFILE system provides online filing and tracking services as well as debtor monitoring to simplify your filing needs.

 

For more information, contact the CLASCORP™ Team at 800-737-8009 or visit our website at www.clascorp.com to learn more about our UCC service offerings.

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