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For much of America, exposure to some type of social media is a part of everyday life. Fifty-seven percent of all American adults use Facebook ' the most preferred social networking site (or SNS) ' and 52% of Internet users who do not use Facebook live with someone who does. Sixty-four percent of Facebook users visit the site on a daily basis. (6 New Facts About Facebook, Feb. 3, 2014, http://tinyurl.com/kv8vyop. Pew Research Center, Social Media Update 2013, Dec. 30, 2013, http://tinyurl.com/ngkvy98).
Reasons for such use include viewing photos or videos, sharing things with many people at once, receiving support from people in their network, getting feedback on content they have posted, and keeping up with news and current events. (Pew Research Center's Internet Project Survey, Aug. 7-Sept. 16, 2013, http://tinyurl.com/kv8vyop).
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The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
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