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Self-Study

2020 LLC/Partnerships Interests: Collateral, Pledges, & Security Interests


Total Credits: 1.2 Self Study

Practice Area:
Commercial / Collections / Consumer
License:
Access for 1 year(s) after purchase.


Description

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 will provide you with 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

Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for GAL Certification, ethics, elimination of bias or Kansas credit.

Materials

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