Prominent Arizona attorney Douglas R. Chandler has drawn from his extensive experience to bring you a new edition of this practical, easy-to-use book, containing a comprehensive collection of all the current rules of Article 9, along with extensive commentaries on how they affect the forms and procedures used in Arizona today.
Important features and changes of this Second Edition include:
- Updated and additional information and key reference material regarding the Hague Securities Convention’s effects on Articles 8 and 9 for any “securities held by an intermediary” when used as collateral (Sections 1.6 and 7.10).
- Corresponding changes and references regarding opinion letter practices as affected by adoption of the Hague Securities Convention (Section 15.2).
- Recognition of a new proposed PEB Commentary regarding consignments (Section 2.1.4).
- An expanded discussion regarding the use of “good forms” when drafting security agreements and related documentation, taking account of recent developments at the national level, largely spearheaded by the Business Law Section of the ABA (Section 2.8.4.1).
- Continuing to update evolving reference sources (Section 16.2).
- New or modified Forms, including:
- Three inter-related “Template” documents that address general collateral security agreements (modify to suit any given collateral mixture), equity interests as collateral, and intellectual property as collateral (see Section 2.8.4.1 and the prefaces to Forms 17-7A, 17-20A and 17-27A).
- Alternative or additional forms of First Preferred Ship Mortgage (Form 17-28A), expanded choice of law clauses as alternatives (Form 17-29), a Memorandum of Agreement for the Surface Transportation Board for Railroad Collateral (Form 17-44A), an expanded version of the latest Model Form of Account Control Agreement for Securities Account (Form 17-46) as well as a deal-based Securities Account Control Agreement (Form 17-46A), and some mobile/manufactured home related documentation.
Douglas R. Chandler essentially retired from active law practice as of 2016. He most recently practiced in Phoenix as Douglas R. Chandler, Lawyer, PLC. Before that, he practiced at the Phoenix office of Sherman & Howard, at its predecessor, Mohr Hackett Pederson Blakely & Randolph, PC, and for over 34 years at Lewis and Roca LLP. His practice emphasized real estate and commercial transactions, including both real property and personal property foreclosures and workouts as well as sales and purchases of all varieties of real estate, leasing, financing and development of commercial and residential projects and related infrastructure. He served as a consultant and expert witness in both professional liability cases and in lawsuits involving questions of both real estate law and secured trans actions customary practices, and on behalf of both plaintiffs and defendants. He has particular experience in “third-party opinion practice,” real estate and asset based secured lending, foreclosures and workouts, and operations and regulation of financial enterprises and institutions. He has been a member of State Bar of Arizona committees or subcommittees dealing with the extensive 1984 revisions to the deed of trust laws, the creation of the Arizona Condominium Act, and the preparation of the 1989 report entitled Rendering of Legal Opinions in Business Transactions, and in the writing of its successor report entitled First Amended and Restated Report of the State Bar of Arizona Business Law Section Committee on Rendering Legal Opinions in Business Transactions, dated October 20, 2004 (available through the State Bar of Arizona, Business Law Section, website at http://myazbar.org). He served as Council member and Secretary/ Treasurer of the Real Property Section of the State Bar of Arizona, 1986–1989. He is a graduate of the University of San Francisco, B.A., where he was elected to Alpha Sigma Nu, the national Jesuit honorary society, and the University of Michigan Law School, J.D., where he was an Administrative Editor of the Michigan Law Review.
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SUMMARY TABLE OF CONTENTS
Chapter 1: Applicable Law
Chapter 2: Overview and Definitions
Chapter 3: Creating a Security Interest—Attachment—Making the Secured Party's Rights Enforceable Against the Debtor
Chapter 4: Perfection
Chapter 5: Financing Statement Mechanics
Chapter 6: Prevailing Against Others
Chapter 7: Particular Types of Collateral
Chapter 8: Proceeds
Chapter 9: Changes after Closing
Chapter 10: Third Parties—Account Debtors
Chapter 11: Enforcement
Chapter 12: Secured Party's Obligations
Chapter 13: Penalties Against Secured Parties
Chapter 14: Arizona Variations in, Additions to or "Peccadilloes" in RA9
Chapter 15: Opinion Letters and RA9 Secured Transactions
Chapter 16: Selected UCC and Article 9 Resources, Commentary and Case References
Chapter 17: Forms
Appendices
Indices
