71. What information must a corporation put in a registration statement? 72. Dillingham (a resident of...

71. What information must a corporation put in a registration statement?

72. Dillingham (a resident of Washington)is a commercial debtor who is taking out a loan. Vernon is a loan officer making the loan. The loan closes on September 1 st of 2018. Where must Vernon file the financing statement? How long is it good for? Can it be extended? If so, how does the secured creditor extend the financing statement and when must the extension be submitted?

Business Law class. Please short answer

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Expert Solution

71.

Registration statements provide investors with an understanding of the offered securities and the profitability of the company. All companies, foreign and domestic, must file these statements or qualify for an exemption. The statements consist of two parts:

Prospectus - A legal document that charges the issuer of the securities to provide details of the investment offered, how the business operates, its history, management, financial condition, and insight into any risk. The financial forms included in the prospectus, such as an income statement, must be audited by an independent certified public accountant.
Additional information - In addition to the prospectus, the company may provide any relevant additional information, such as recent sales of unregistered securities

72.

The financing statement is generally filed with the office of the state secretary of state.A filed financing statement typically has a duration of five years from it was filed. A secured party can continue their security interest by filing a continuation six months before the expiration date of the financing statement.

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