LLC members, partners and S Corp shareholders frequently pledge their ownership stakes as collateral to fund their businesses or for personal purposes. Taking and perfecting a security interest in an ownership stake involves a complex set of choices and processes under UCC Article 9 and Article 8, federal securities law and organizational law, each implying risk and limitations on the secured party.
This program provides a practical guide to taking and perfecting a security interest in a partnership, LLC or S Corp ownership stake, the practical remedies and choices available to secured parties on foreclosure, how to circumvent certain restrictions, and the impact of non-UCC law on taking a security interest.
- How to take a security interest in partnership, LLC or S Corp ownership stake
- Relationship of Article 9 and Article 8, defining security interests in securities and investment properties
- Methods and mistakes in perfecting the security interest
- Restrictions on assignment and methods to circumvent
- Rights of secured parties, including the right buy, and foreclose strategies and traps
- Securities law and non-UCC legal issues
DETAILS
Phone/Audio
Friday, October 23, 2020
1:00–2:00 PM
SPEAKERS
- Steven O. Weise, Proskauer Rose LLP, Los Angeles, CA
PRODUCED
October 23, 2020
APPROVED CREDIT
North Carolina: 1.00 MCLE Hour
PROGRAM PRICING
See pricing below.
