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Duplicate OriginalCOLL94A Page 1 of 7 (FODPRO1060FOD December 2022) NC Department of State Treasurer Attn: Specialized Banking Unit 3200 Atlantic Ave. Raleigh, NC 27604SECURITY AGREEMENT WITH RESOLUTION
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How to fill out security agreement with resolution

01
Obtain a copy of the security agreement form or template.
02
Review the terms and conditions of the security agreement carefully.
03
Fill in all the required information accurately, including the names of the parties involved, the description of the collateral, and the terms of the agreement.
04
Include a resolution statement at the end of the agreement, signed by the authorized individuals, confirming the approval of the agreement.
05
Make sure all parties involved sign the agreement and keep a copy for your records.

Who needs security agreement with resolution?

01
Businesses seeking to secure a loan or financing using collateral.
02
Property owners looking to grant a security interest in their assets.
03
Lenders or financial institutions requiring protection for the funds they provide.
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A security agreement with resolution is a legal document that outlines the terms under which a borrower provides collateral to secure a loan or obligation, accompanied by a formal resolution from the borrower's governing body authorizing the agreement.
Entities such as corporations, limited liability companies, and non-profits that are securing loans or obligations with collateral are typically required to file a security agreement with resolution.
To fill out a security agreement with resolution, you need to provide details such as the names of the parties involved, a description of the secured obligations, a description of the collateral, and include the resolution language authorizing the agreement signed by the appropriate governing body.
The purpose of a security agreement with resolution is to legally protect the lender's interests by establishing rights to the collateral and providing a clear record of the borrowing entity's intent and authorization to encumber the collateral.
The information that must be reported includes the names and addresses of the parties, a detailed description of the collateral, the secured obligations, the governing body's resolution details, and any necessary signatures.
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Relevant keywords

2020 2022 North_Carolina ncac 94a hereof 94b nc depositorys therefrom raleigh distributions entitlements fdic rescission validly maturities specifying effectuate collateralization pledgee collateralize hereunto unenforceable invalidity unenforceability se

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