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Taking a Credit Interest in Stock or Membership Interest (teleseminar)
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When: 05/03/2016
1:00 PM to 2:00 PM
Where: United States
Contact: (404) 521-0781

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One-hour CLE programs are just a phone call away
Convenient, affordable, timely and informative
An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.

1 CLE hour
LLC and partnership interests, and stock, are often pledged as collateral to finance companies or raise funds 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 (secured transactions) and Article 8 (investment securities), federal securities law and organizational law, each involving certain risks in terms of enforceability 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 interest or S Corp stock
How Article 9 (secured transactions) Article 8 (investment securities) define security and limit security interests 
Methods and mistakes in perfecting the security interest
Restrictions on assignment and methods to circumvent
Rights of secured parties, including the right buy, and foreclosure strategies and traps
Securities law and non-UCC legal issues

Steven O. Weise
is a partner in the Los Angeles office Proskauer Rose, LLP, where his practice encompasses all areas of commercial law. He has extensive experience in financings, particularly those secured by personal property.  He also handles matters involving real property anti-deficiency laws, workouts, guarantees, sales of goods, letters of credit, commercial paper and checks, and investment securities.  Mr. Weise formerly served as chair of the ABA Business Law Section. He has also served as a member of the Permanent Editorial Board of the UCC and as an Advisor to the UCC Code Article 9 Drafting Committee.  Mr. Weise received his B.A. from Yale University and his J.D. from the University of California, Berkeley, Boalt Hall School of Law.

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