Report

How to Secure Tax Credits Under the UCC and SB 83

 
As most lawyers know, Article 9 of the Uniform Commercial Code ("UCC") covers secured
transactions in personal property. Indeed, section 9-101, the very first section of Article 9, says simply, "This article may be cited as Uniform Commercial Code -- Secured Transactions." What could be simpler?

Yet, comment 4(a) to 9-101, adopted at the time of the amendments to Article 9 that became
effective in 2001, lists nine separate ways in which the scope of Article 9 was expanded by those amendments, without changing the title. Some of those changes are not germane to this
discussion; oil and gas tax credits are unrelated to health-care-insurance receivables,
non-possessory statutory agricultural liens, consignments or commercial tort claims. But some of the expanded coverage is central to our topic. Most germane to our discussion: sales of payment intangibles.

Agenda

What Article 9 Covers May Surprise You
Treating Tax Credits Under Article 9
Treating Tax Credits Under SB 83

Faculty

Richard L. Goldfarb

Stoel Rives, LLP

  • Partner in the Seattle, Washington, office of Stoel Rives LLP
  • Practices commercial, banking, corporate and securities law, and all aspects of the Uniform Commercial Code
  • Listed in Best Lawyers in America (2007 to 2014), selected by Best Lawyers as Seattle Banking Law Lawyer of the Year (2009), fellow, American College of Commercial Finance Lawyers; chair, Secured Transactions Subcommittee of ABA Business Law Section UCC Committee
  • J.D. degree, cum laude, Harvard Law School; A.B. degree, magna cum laude, Harvard College
  • Can be contacted at 206-386-7639 or [email protected]

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