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Originally Posted by Dillon Hunt
Yes, only when registered on a ucc 3. registered as your property on the public side. (see pg. 11 of 23 in the securitization word document)
See the Securitization word document - it is (113kb) located near the bottom of this:
http://www.commonlawvenue.net/main/MSL.htm website.
I hope it is helpful
Dillon |
Adding emphasis to your statements above:
http://www.msb.gov/pdf/31CFR10311.pdf the following is found on page 4 of the pdf.
"(u) Monetary instruments. (1) Monetary
instruments include:
(i) Currency;
(ii) Traveler’s checks in any form;
(iii) All negotiable instruments (including
personal checks, business
checks, official bank checks, cashier’s
checks, third-party checks, promissory
notes (as that term is defined in the
Uniform Commercial Code), and money
orders) that are either in bearer form,
endorsed without restriction, made out
to a fictitious payee (for the purposes
of § 103.23), or otherwise in such form
that title thereto passes upon delivery;
(iv) Incomplete instruments (including
personal checks, business checks,
official bank checks, cashier’s checks,
third-party checks,
promissory notes
(as that term is defined in the Uniform
Commercial Code), and money orders)
signed but with the payee’s name omitted;
and
(v) Securities or stock in bearer form
or otherwise in such form that title
thereto passes upon delivery.
(2) Monetary instruments do not include
warehouse receipts or bills of lading.
Jerry Carlos