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

October 23, 2020 @ 12:00 pm - 1:00 pm

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.

Handout Materials will be emailed to you prior to the seminar
$60.00
1.0 MCLE Credit Hour

Schedule:

  • 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

Speaker:

Steven O. Weise, Proskauer Rose, LLP – Los Angeles