Arizona Secured Transactions Under Article 9 of the Uniform Commercial Code: Forms and Practice Manual
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 in the most recent update include:
- Additional information and reference material regarding use of “virtual currency” as collateral.
- Citation to a new source for easy access to PEB Commentary No. 20, regarding proper treatment of consignments.
- Additional court decisions and critical commentary regarding treatment of consignments in the TSA Stores, Inc. series of cases.
- Discussion of new PEB Commentary No. 21 regarding proper meaning and use of “assignments” (critical of Woodbridge and Durham decisions).
- Discussion of conflicting court decisions and critical commentary regarding the same, dealing with the proper description, by reference, of collateral in UCC1 financing statements (180 Equipment versus Financial Oversight).
- Updated and revised Section 7.4, dealing with boats (watercraft) and vessels (ships), when used as collateral.
- Updated and revised Chapter 15, dealing with Opinion Letters and Article 9 Secured Transactions, in light of further and recent developments regarding “customary practice” and the promulgation of various new “model or illustrative forms” of UCC Article 9 opinion letters.
- New or revised Forms:
- Revised and updated Preferred First Ship Mortgage and Security Agreement.
- Revised and updated Illustrative Borrower’s Counsel Opinion—Secured Transaction.
- New Private Disposition Purchase Agreement with related Exhibit documents (bill of sale, transfer statement and assignment and assumption agreement).
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 transactions 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 Article 9
Chapter 15: Opinion Letters and Article 9 Secured Transactions
Chapter 16: Selected UCC and Article 9 Resources, Commentary and Case Reference Sources
Chapter 17: Forms
Appendices
Indices
