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What Lawyers Need to Know About UCC Article 5 - Letters of Credit 2002

 
Author(s): Sandra Stern
Practice Area: Banking, Corporate & Securities, Professional Skills
Published: Jan 2002
PLI Item #: 259
CHB Spine #: A832

Admitted: Massachusetts; Minnesota; New York; U.S. District Court, District of Minnesota; U.S. Court of Appeals, Eighth Circuit

Law School: Harvard Law School, LL.B.
College: Goucher College, B.A., highest honors.

                                                                                                                            
In private practice since 1994, concentrating in commercial finance, including secured transactions and letters of credit. Ms. Stern counsels commercial banks and nonbank lenders as well as corporate borrowers.

Previously: Senior Vice President and General Counsel, Banco Santander, 1993-1994. First Vice President and Deputy General Counsel, Republic National Bank of New York, 1980-1993.

Author: “Structuring and Drafting Commercial Loan Agreements” LexisNexis; “Structuring Loan Participations,” A.S. Pratt.

Appointments: Commissioner, Uniform Law Commission, 1992, elected Life Member, 2012; Drafting Committee to Revise Uniform Commercial Code Article 5, Letters of Credit, 1993-; Drafting Committee to Revise Uniform Commercial Code Article 7, Documents of Title, 2000-; Drafting Committee to Revise Uniform Commercial Code Article 9, Secured Transactions, 1994-; Committee to Revise Articles 1,3, and 9 (present);  Drafting Committee on Uniform Money Services Act, 1996-1999; Chair, Study Committee on Payment Systems, 2006-; Uniform Commercial Code Committee, 2010-.

Expert Witness testimony in: Subaru Distributors Corp. v. Subaru of America, Inc., United States District Court, Southern District of New York, 98 Civ. 5566, 2002 Westlaw 413808, March 18, 2002 and In re CRIIMI MAE INC., et. al., United States Bankruptcy Court, District of Maryland, Bankruptcy Case No. 98-2-3115-DK.

Fellow: American College of Commercial Finance Lawyers, 1995-.

Member: The Association of the Bar of the City of New York (Member, Committee on Uniform State Laws, 1999-2005); New York State Bar Association (Chair, Business Law Section, 1998-1999; Chair, Banking Law Committee of Business Law Section, 1990-1994); New York County Lawyers' Association (Chair, Banking Law Committee, 1986-1989); New York State Bankers Association (Member, Lawyers Advisory Committee on Legislation and Regulation, 1990-1993).