The collection of business debt is an unwanted but necessary and inevitable part of conducting business. A writ of attachment is likely the most effective tool any business owner may…
A major consideration of any commercial enterprise that engages in business, especially, with new partners, is whether, in the worst-case scenario, the debtor has the assets to satisfy a money…
Whether they are devious, desperate, or dishonest, some debtors trying to appear judgment-proof, will fraudulently conceal assets through some third-party transfer. In California, the Uniform Voidable Transfer Act (UVTA) provides…
California business owners often find themselves involved in litigation to enforce their rights as creditors. Provisional remedies are a valuable tool of the California legal system. The purpose of a provisional…
Blockchain technology provides a means of creating and maintaining an immutable and transparent database and ledger that may be distributed and shared by authorized users. A blockchain establishes one correct,…
The California Residential Mortgage Lending Act (CRMLA) defines “trust funds” as funds that a licensee collects and holds on behalf of another while making or servicing a mortgage loan. Licensees…
Blockchain technology has been in the news consistently for more than a year. This technology has the potential to transform many industries, including those that are multiply-diverse. A blockchain provides…
When creditors sue individuals, who own an interest in a limited liability company or partnership, they may petition a court for a charging order. A charging order places a lien…
In 2000, Governor Gray Davis signed Senate Bill 2148 into law, thus transforming industrial loan companies into a new class of financial institutions termed “industrial banks.” These banks differ from…
The SBA 504 Loan program provides financing to eligible small businesses for major fixed assets such as equipment or real estate. Loans are typically structured with the borrower providing anywhere from…
The Small Business Administration (SBA) works in tandem with lenders to offer loans to small businesses. By reducing the risk, lenders may more easily access capital for small business loans,…
In 2019, the U.S. House of Representatives passed the Secure and Fair Enforcement Banking Act of 2019 (SAFE Banking Act), providing cannabis businesses long-awaited access to federal financial institutions. While the SAFE…
When Governor Gavin Newsom released information about the fiscal 2020-2021 budget, it included a proposal to revamp the California Department of Business Oversight (DBO) to directly assume regulation of fintech…
State usury and licensing laws differ significantly from state to state. California’s Constitution permits parties to contract for interest on a loan primarily for personal, family or household purposes at…
A security interest provides lenders with the promise of repayment if a borrower defaults on a loan. In this instance, the lender may recover the amount of the loan by…
Lenders as secured parties must file their UCC-1 Financing Statement expediently and accurately to properly perfect their security interest in loan collateral. If a financing statement is incomplete, inaccurate, or…
Reducing a working arrangement to writing is always wise for the obvious reasons. In many cases, the law simply requires it. In California, lenders licensed under the Residential Mortgage Lending…
In all likelihood, California has the most complex licensing system for mortgage professionals in the United States. Rules and regulations regarding licensing are set forth in two different state laws:…
As the year winds down, Governor Newsom has signed into law several amendments to the California Consumer Privacy Act (CCPA). Two of the amendments directly impact all companies doing business…
The U.S. Supreme Court declined to review the Ninth Circuit Court of Appeals’ decision in Lusnak v. Bank of Am., N.A., 833 F.3d 1185 (9th Cir. 2018). The decision significantly limits…
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