Summary of the 2010 Amendments to Chapter 9 of the Texas Uniform Commercial Code: Effective July 1, 2013,

Allen Dickey, Esq.

Jonathan Ursprung, Esq.

New secured lending rules in Texas will change a number of the filing procedures, searching methods and due diligence practices for lenders.

Key areas covered include (i) clarification of an individual debtor’s name, (ii) a revised definition of “registered organization,” (iii) enhanced protection for after-acquired assets if the debtor changes location or merges, and (iv) modification of the national form of financing statement in other states (but not Texas, as of 02/07/13).

Differences between the statutes enacted by Texas and the 2010 Uniform Law amendments adopted in other states will be discussed.

Those who might want to review this article:

1. Finance/corporate/real estate attorneys & paralegals

2. Attorneys preparing legal opinions on real estate / corporate loans

3. Any other attorneys/paralegals reviewing UCC filings for statutory conformance and/or perfection