Posted By: Anonymous
Leased Equpiment - 08/18/05 06:54 PM
Bank has loan to Company A secured by equipment leased to Company B.
Company A is registered in Kansas.
Company B is registered in Illinois.
Bank has perfected lien in all equipment, accounts, contracts, general intangibles, chattel paper owned by Company A with UCC filed in Kansas.
Company A is going to file a UCC-1 on equipment leased to Company B in Illinois.
How can bank reduce potential exposure by giving notice to third parties, who are conducting searches on Company B, that the leased equipment is the bank’s collateral on loan to Company A?
Company A is registered in Kansas.
Company B is registered in Illinois.
Bank has perfected lien in all equipment, accounts, contracts, general intangibles, chattel paper owned by Company A with UCC filed in Kansas.
Company A is going to file a UCC-1 on equipment leased to Company B in Illinois.
How can bank reduce potential exposure by giving notice to third parties, who are conducting searches on Company B, that the leased equipment is the bank’s collateral on loan to Company A?