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#1678826 - 03/16/12 06:41 PM Underage customer
Tessie Offline
100 Club
Joined: Jan 2006
Posts: 155
Can you have an underage customer sign a security agreement
or does just the co-signer sign the SA?

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Lending Compliance
#1678863 - 03/16/12 07:12 PM Re: Underage customer Tessie
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
Oklahoma
Same as the note - underage cannot commit to a contract, whether a note or pledging collateral unless special circumstances exsist such as minor being emancipated.

Co-signere can't sign (pledge) security agreement if (s)he doesn't own the collateral.
Last edited by Okie Banker; 03/16/12 07:13 PM. Reason: To add second para.
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