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LLC/Partnerships Interests: Collateral, Pledges, and Security Interests


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.