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Chapter 44A. Statutory Liens and Charges. Article 1. Possessor Liens on Personal Property. 44A-1. Definitions. As used in this Article: (1) Legal possessor” means a. Any person entrusted with possession
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What is statutory liens and charges?
Statutory liens and charges are legal claims against an asset that provide security for payment of a debt or performance of an obligation.
Who is required to file statutory liens and charges?
Creditors or individuals who have a legal claim on an asset are required to file statutory liens and charges.
How to fill out statutory liens and charges?
Statutory liens and charges can be filled out by providing relevant information about the debt or obligation being secured, the asset being used as security, and the terms of the lien or charge.
What is the purpose of statutory liens and charges?
The purpose of statutory liens and charges is to protect creditors by giving them a legal claim on an asset to secure payment of a debt or performance of an obligation.
What information must be reported on statutory liens and charges?
Information such as the amount of the debt or obligation, a description of the asset being used as security, and the terms of the lien or charge must be reported on statutory liens and charges.
When is the deadline to file statutory liens and charges in 2023?
The deadline to file statutory liens and charges in 2023 is typically determined by the specific jurisdiction or governing body.
What is the penalty for the late filing of statutory liens and charges?
The penalty for the late filing of statutory liens and charges may include additional fees, interest, or potentially loss of claim on the asset.
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