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IMPORTANT MESSAGE |
| To: Our Uniform Commercial Code clients |
| From: Bridge Service Corp |
| RE: END OF TRANSITION PERIOD JUNE 30, 2006 AND AFFECTED CONTINUATION FILINGS |
| We would like to remind you that the cut off date to complete making all pre revision UCC Article 9 filings compliant with revised Article 9 is fast approaching. You may wish to review your portfolios to ensure that your filings do not miss the cut off date of 6-30-06 in all jurisdictions except Alabama, Arizona and Mississippi, which are 12-31-06, 6-30-07 and 12-31-06 respectively. |
| In short, pre revision filings must be recorded in the correct jurisdiction by way of an "in lieu of continuation" filing on or before 6-30-06. New York City Cooperative Filings, which were recorded with the statement “effective until terminated”, must be continued on or before 6-30-06. Note that documents recorded in the jurisdiction of organization pre revision and properly continued need no further action. |
| The following link is to the Permanent Editorial Board for the Uniform Commercial Code “Report” dated December 19, 2005. http://www.ali.org/ali/DEC2005PEB-report.pdf. This report discusses some interpretive issues concerning Section 9-705 of the Uniform Commercial Code. |
| If we can be of any assistance please do not hesitate to contact us at 212-267-8600, 800-225-2736 or info@bridgeservice.com |
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