This seven-hour seminar is designed for those who need to understand unique laws relating to
the taking of a lien secured by agricultural property (other than real estate) and controlling an
agricultural loan. Materials covered are all state-specific, and the manual received by participants
includes laws applicable to the state where given. We also cover any new legislation your state has
enacted or that is currently before the legislature.
What We Cover to Make Sure You're Covered
Why it is important for a loan officer to understand and use UCC terms: When can a cow
or horse be equipment and not a farm product?
Requirements for a purchase money security interest that will give the lender special
priority and how to maintain their priority
Why it is vital, when taking a security interest in tangible goods, to know its primary use
UCC laws applicable to your state, including any changes through the last legislature
Why the attachment of a security interest is more important than the step of perfection
Why a detailed collateral description could cause more problems than it solves
When not to give the location of the collateral in the security agreement or financing statement
When the location is absolutely required
Why the debtor and not just the owner should sign the security agreement
The complex rules of priority made easy
Threshers', seed suppliers', landlords', and other lien holders' priority in crops
The Food Security Act and how your state's law was modified to comply with the Act
