Regulation .31 Debt.
Regulation .31 Debt.LinkCopy Citation
A.
The application documents shall describe any lien that encumbers 1 percent or more of the applicant's assets or 1 percent or more of the assets of a person with an ownership interest in the applicant of 25 percent or more.
B.
The disclosure for each lien listed under §A of this document shall include:
(1)
The name and address of the lender or secured party;
(2)
The amount of the indebtedness;
(3)
The terms of the lien; and
(4)
A copy of each document executed with respect to the lien.