No, I am not saying that, unless your State law prohibits it. LaserPro, as far as I know, adds that last sentence to almost every security interest disclosure they print at most of the banks that I audit. This is regardless if it also involves a security interest in a deposit account, vehicle, etc. It also appears on unsecured loans. I think they put it on under the above Threshold Test so they don't have to make a determination whether it rises to the level of a security interest based on the State that you may be in.
_________________________
The opinions expressed here should not be construed to be those of my employer:
PPDocs.com