Sunday, 24 December 2017

Bankruptcy Attorney South Salt Lake

CAN I PULL MONEY OUT OF MY BANK ACCOUNT RIGHT BEFORE I FILE BANKRUPTCY, OR IS IT PART OF THE BANKRUPTCY ESTATE?

Nо, not unless уоu аrе gоіng tо ѕреnd it right away аѕ well.

Thіѕ іѕ dеfіnіtеlу a ѕtrаtеgу/рlаnnіng mееtіng you need tо hаvе wіth уоur bаnkruрtсу аttоrnеу.

On thе dау we fіlе your bankruptcy саѕе, thе bankruptcy еѕtаtе іѕ created. Thіѕ means thаt аt thаt mоmеnt, thе bаnkruрtсу truѕtее takes an іmаgіnаrу ѕnарѕhоt of уоur аѕѕеtѕ. As a Bankruptcy Lawyer I tell people that ifyou fіlе оn a Thursday whеn уоur bаnk ассоunt іѕ lоw, уоur bаnkruрtсу еѕtаtе has аlmоѕt no саѕh. If уоu file оn thаt Friday whеn уоu get раіd your $1,500 paycheck, thеn уоur bankruptcy еѕtаtе hаѕ $1,500 cash. Thеrе is a very good сhаnсе thаt thе bаnkruрtсу truѕtее wіll аѕk уоu to turn оvеr thаt $1,500, all bесаuѕе оf the dіffеrеnсе оf one dау. (It іѕ fine to fіlе оn a Thursday and thеn gеt paid оn a Frіdау. The ѕnарѕhоt wаѕ оf your bаnk ассоunt оn Thursday).

Nоw whеn wе mееt with thе truѕtее, hе wіll аѕk to see уоur bank ѕtаtеmеnt ѕhоwіng thе bаlаnсе on thе dаtе оf fіlіng, аlоng wіth thе transactions іn thе 30 dауѕ рrіоr tо filing. So, іf you hаd a savings of $2,500 аnd pulled it out two dауѕ before fіlіng, hе wіll аѕk you to ассоunt fоr іt. If you ѕреnt іt оn ѕаfеtу items lіkе mоrtgаgе, саr payments, аttоrnеу’ѕ fееѕ, еtс., then уоu’rе ѕаfе. If уоu hіd it in уоur drеѕѕеr drawer, thеn уоu will rесеіvе a turnоvеr rеԛuеѕt frоm thе truѕtее fоr thаt $2,500.

I had a сlіеnt rеаdу to fіlе thіѕ mоrnіng (Frіdау). Their nоrmаl payday is Sаturdау. Unfоrtunаtеlу, bесаuѕе оf the Thanksgiving Thurѕdау уеѕtеrdау, рауrоll wаѕ dероѕіtеd еаrlу, аnd thеіr account іѕ a lіttlе blоаtеd. Nоw, we wіll wаіt untіl thеіr mоrtgаgе рауmеnt has сlеаrеd, аnd then wе will fіlе thе саѕе.

WE ARE SEPARATED BUT NOT OFFICIALLY DIVORCED. CAN I FILE A SINGLE BANKRUPTCY PETITION, OR DO I STILL COUNT AS MARRIED?

Yоu саn fіlе a ѕіnglе bankruptcy реtіtіоn аnd NOT іnсludе her income іf you аrе rеаllу ѕераrаtеd.

No, you dоn’t need lеgаl ѕераrаtіоn papers drawn uр. Yоu dоn’t еvеn nееd to hаvе a dіvоrсе dаtе set, but уоu need tо be maintaining separate rеѕіdеnсеѕ. If you dесіdе tо “ѕераrаtе” оnlу tо trick thе ѕуѕtеm so that уоur household income іѕ ѕuddеnlу low еnоugh tо ԛuаlіfу for a chapter 7 bаnkruрtсу, you’re соmmіttіng fraud аnd реrjurіng уоurѕеlf оn the dосumеntѕ we fіlе with thе bankruptcy соurt. If I fіnd оut уоu’rе dоіng it, I wоn’t rерrеѕеnt уоu. If thе trustee fіndѕ оut that you’re doing it, you wіll be lооkіng аt (аt a mіnіmum) аn аdvеrѕаrу рrосееdіng tо rеvоkе уоur dіѕсhаrgе аlоng wіth роѕѕіblе сrіmіnаl ѕаnсtіоnѕ.

That bеіng ѕаіd, if you’re separated, уоu’rе separated. We dо nоt nееd to provide dосumеntаtіоn tо the truѕtее that уоu’rе оffісіаllу ѕераrаtеd. It is simply a bоx thаt we сhесk on thе fоrmѕ.

Thіѕ mеаnѕ that уоur bаnkruрtсу wіll оnlу іnсludе уоur debts and nоt уоur ѕроuѕе’ѕ dеbtѕ. Yоu wіll nоt іnсludе hеr income іn уоur income calculations for рurроѕеѕ of thе bankruptcy mеаnѕ test. Thіѕ also means thаt any creditors оf jоіnt dеbtѕ wіll start coming аftеr hеr еvеn more.

іf уоu thоught уоur relationship wіth уоur еѕtrаngеd ѕроuѕе was bаd bеfоrе, juѕt wait until thе сrеdіtоrѕ аrе оnlу саllіng hеr bесаuѕе уоu’rе рrоtесtеd in bаnkruрtсу!

A CREDITOR JUST CALLED AND SAID THAT THEY ARE INITIATING THE LEGAL PROCESS FOR GARNISHMENT. HOW LONG DO I HAVE UNTIL THEY GARNISH ME?

I hеаr this a lоt, аnd it’s uѕuаllу a lіе оn the part оf thе creditor.

Thеу mіght rеаllу want to garnish уоu, but the gаrnіѕhmеnt іѕ generally not in рlасе yet.

Tо garnish you, thеу hаvе tо have a judgmеnt аgаіnѕt уоu. Tо hаvе a judgmеnt аgаіnѕt уоu, they nееd tо fіlе a lаwѕuіt аgаіnѕt уоu. Sо, unlеѕѕ the constable hаѕ ѕеrvеd уоu wіth a lаwѕuіt аt the front door of your home, you рrоbаblу haven’t been ѕuеd. Thіѕ mеаnѕ thаt thеу dоn’t hаvе a judgmеnt, and thеу саnnоt legally garnish you, yet.

Generally, it’s a bluff. It doesn’t mеаn thаt thеу wоn’t start a lawsuit аnd еvеntuаllу gаrnіѕh уоu, but it takes ѕоmе time. For еxаmрlе, іf I ѕuеd уоu tоdау, I wоuld ѕеrvе уоu іn a wееk, get a judgment іn a mоnth, fіlе the garnishment рареrwоrk, and garnish уоu іn аbоut 45 dауѕ. Thаt’ѕ still 45 dауѕ аwау, аnd уоu hаvе plenty of time tо file bаnkruрtсу in the mеаn-tіmе to ѕtор іt.

On the оthеr hаnd, if thе сrеdіtоr rеаllу dоеѕ hаvе a garnishment, thеу wоn’t bе саllіng you. Thеу wіll соntасt уоur рауrоll and gеt іt ѕеt up. Hореfullу, уоur payroll dераrtmеnt аt wоrk іѕ frіеndlу, аnd they wіll gіvе you a hеаdѕ-uр thаt your paycheck nеxt Frіdау wіll bе hіt by a gаrnіѕhmеnt. Sо lоng as wе file bankruptcy before рауrоll processes thаt gаrnіѕhmеnt, wе саn still ѕtор іt.

Free Consultation with Bankruptcy Lawyer

If you have a bankruptcy question, or need to file a bankruptcy case, call Ascent Law now at (801) 676-5506. Attorneys in our office have filed over a thousand cases. We can help you now. Come in or call in for your free initial consultation.

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

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Utah Litigation Attorney

A Receivership case is an insolvency proceeding. Like a bankruptcy; but you need to have a
Litigation Attorney to help you – especially if you have a business.
The rules governing Receiverships are not as well-defined as in a bankruptcy proceeding. It is possible for someone who has made an investment or purchased an interest in a company or property to be drawn into a Receivership case based on the conduct of other persons or entities. A lender holding a lien on property may also be drawn into a Receivership case if the property is subject to a Receivership order.

If you become part of a Receivership case or if a Receiver makes a claim against you, here are some important things to know:

A Receiver is an officer appointed by the Court who is given custody of specified assets with direction to liquidate them and distribute the proceeds. A Court order is typically required to appoint a Receiver, and the terms of the order describe the Receiver’s duties and powers.
The appointment of a Receiver often comes at the request of a government law enforcement agency, such as the United States Attorney’s Office or the Securities and Exchange Commission. When such an agency brings an enforcement action against someone, that person or entity’s assets may be placed in receivership to preserve them for the victims of wrongful conduct.
The Receiver stands in the shoes of the owner(s) of the assets committed to his or her custody. For example, if an entire company is placed in Receivership, the Receiver stands in the shoes of that company. Nevertheless, the Receiver may be given power to set aside or undo certain actions taken or transactions entered by the person or entity before the Receiver was appointed.
A Receiver can only act in accordance with the instructions and authorizations of the Court that appointed him or her. If the general appointment order does not give specific authorization, then the Receiver must seek additional approval before pursuing a certain course of action. For example, the Receiver must be previously authorized to file claims against third persons, to sell or abandon the assets placed in the Receiver’s custody, or to distribute the proceeds of assets liquidated.
With the Court’s authority, a Receiver may file claims against third persons or entities to recover monies paid or assets transferred to them if the Receiver believes the circumstances were unlawful.
The Court has broad power and discretion to fashion appropriate remedies in a Receivership case. For that reason the Court’s rulings on various issues may be handled differently than in a typical civil action.
The Receiver is paid from the assets placed in his or her custody, and the Receiver’s fees have priority over other claims. Fees earned by the Receiver must be approved by the Court before they are paid, and typically are based upon rates and parameters set forth in the order of appointment. Likewise, other costs incurred by the Receiver are reimbursed only after approval by the Court.
In most civil litigation, parties reach a settlement because of:

The burden of legal expenses
The desire to avoid further litigation.

In a Receivership case, the Receiver often does not feel those motivations as would a party to a traditional lawsuit. The Receiver does not have a client who is paying legal expenses from its own funds, but instead the Receiver is being paid from the assets of the receivership estate. Also, being a Court-appointed officer, the Receiver does not have a personal connection to the issues of the case, and therefore does not face the emotional burden that often weighs upon a traditional civil litigant.

Free Consultation with Litigation Attorney

When you need a litigation lawyer, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

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Saturday, 23 December 2017

PACA Automatic Protections

PACA is a bit different than some other trade laws because the law has certain provisions that will apply automatically if the parties do not have a special agreement that covers that term. As a PACA Lawyer, you need to know that some of the PACA automatic provisions are:

Claims by receivers that product arrived in bad condition or is otherwise defective must be supported with official inspections – All claims by buyers or receivers that a shipment of produce was defective or damaged generally must be supported by a timely issued inspection certificate issued by an inspector who works for the USDA.

Fixed periods to pay for product received – When product is sold, there are fixed time periods during which a buyer can reject a shipment, based upon obtaining a USDA inspection certificate. After the end of this period, the buyer can no longer reject the shipment, but must instead show that it was damaged.

Duty to promptly and properly resell damaged product – If a buyer claims that it was damaged by a defective shipment of produce and it obtains a proper inspection certificate, the buyer must take steps to promptly and properly resell the produce. The produce must be sold in a manner that takes into account the fact that it is damaged and must be sold quickly to salvage some remaining value. The buyer must generally provide dates of sale, prices and quantities of sale and must account for all expenses that are claimed as damages. Generally unless the load of produce is shown to be completely unsellable, the buyer still must take these steps to limit the damage and will not be able to claim damages against the seller merely because the buyer obtained an inspection certificate.

Proper accountings for consignments – On consignments, the consignee must account for all sales and provide the consignor with a liquidation of sales that includes dates, quantities and prices of sale of all product received. If the consignee dumps more than 5% of any consignment shipment, it must obtain a timely issued USDA inspection certificate to show that the product was unsalable. If the consignee intends to grant a price allowance to a customer, the customer must supply the consignee with a timely issued USDA inspection certificate to support the customer’s claim. If the consignee does not require its customer to supply these documents, then the consignee can be liable to the consignor for the price adjustment that was granted to the customer.

Official governmental inspections are required – Another important part of PACA is the inspection services provided by the USDA or through state government services that work in cooperation with the USDA. Unlike many other products, interstate and international shipments of produce can be inspected by an impartial government inspector, who is authorized to inspect according to set protocols. The USDA and state departments of agriculture have inspection offices located across the United States. The inspector can inspect for many things, condition, quality, weight, count and can inspect against a USDA grade standard The grade standards apply when the parties have agreed that they apply to a shipment of produce for example when the parties agree that a shipment will be US Grade #1 apples.

In those cases in which the two parties have not agreed to a USDA or other grade standard, PACA still requires that the produce be merchantable, a minimum acceptable in the produce trade generally.

Free Consultation with a PACA Lawyer

If you are here, you probably have a business law issue you need help with, call Ascent Law for your free business law consultation (801) 676-5506. We want to help you.

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

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Bankruptcy Lawyers Salt Lake City Utah

People contact me from time to time and say that they’ve explored the matter and think bankruptcy would be in their best interest, but they are concerned with how filing for bankruptcy will affect their ability to get new loans in the years to come. For this reason, you need to speak with a Bankruptcy Lawyer to know all of your options. My usual response is to that great, and very important, question is that it can take you as few as 2-3 years if you do it the right way.

Is There Life After bankruptcy

Let’s start with a reality check. The reality check is that most people who are thinking about bankruptcy are: (1) already behind on payments and have a credit rating that is starting to reflect that fact and (2) they have a debt-to-income ratio that is less than ideal. When a lender checks a credit rating or a debt-to-income ratio, they don’t ask why a person has gotten into debt, they only ask, “What’s the risk for me in lending to this person?” If a person seems risky, they are reluctant to lend. So, chances are, you may not be able to get a loan until you take some kind of action that will shift the tide. When deciding whether bankruptcy is a good idea even if it does affect my credit score, the key question to ask is this: Will it take me more than three years for me to pay back all my loans? If the answer is yes, bankruptcy might be the fastest way to get your credit rating, and your financial life, back on track.

So how exactly will a bankruptcy affect my credit? Legally, a creditor can keep the fact that they weren’t paid on your credit for up to 10 years. Bad news, I know. But there is good news. The good news is that this fact in no way means that your credit will remain low for 10 years. If you manage your debts and bills wisely, you can rebound quicker than you would have believed possible. How can this be? Well, let me tell you.

Once out of bankruptcy you should wait a few months and then apply for a secured credit card. You ask, “What is a secured credit card?” A secured credit card works almost like a debit card where you’ll need to load the credit card in order to use it. Under a secured credit arrangement, the debtor places funds on deposit with the bank or other financial institution. The lender then allows the debtor to make credit card purchases from 90% to 150% of the amount placed on deposit – depending upon the individual circumstances. For example, if you put $500 in the account; you can charge up to $500. You may be able to add to the deposit to add more credit, or sometimes a bank will reward you for good payment and add to your credit line without requesting additional deposits. This arrangement enables people with poor credit records to have the convenience of having a credit card and a way to rebuild their credit score, while assuring the lender that there is a source of money from which the obligation will be paid. The last thing to remember when you obtain a secured credit card is that you need to make sure that the lender reports the fact that you’re making diligent payments to all three credit bureaus. If you do this one thing, in 3-5 years you’ll see an amazing jump in your credit score.

Ok. Now that we’ve discussed the first major thing you can do, you ask “what else can I do?” Consider the following:

Consider opening a checking and savings account. Some lenders look at this to determine if you can responsibly handle money. Being able to pay bills from a checking account is also much more convenient than paying with money orders.
Consider applying for store and gas credit cards for purchases for which you would normally pay cash. These cards usually have small limits and can help you restore you credit, but only if you have the discipline to set aside the money to pay the bill each month.
Pay your utility bills and rent on time for at least a year.
If possible, find a friend or relative to cosign for you on a loan and pay it on time.
Look for car dealers and mortgage brokers that attest to being “bankruptcy friendly.” Buy a used car on credit so you do not get hit with the depreciation that occurs during the first two years of a new car purchase.
Stay away from payday loans that are at high interest rates and are a bad credit trap.
Write a letter to each credit reporting agency explaining the circumstances that lead to your bankruptcy filing.
Live within your means. Do not unnecessarily increase your debt-to-income ratio by taking on credit to purchase luxury items that you DO NOT NEED. Your payments on consumer debt should equal no more than 20% of your expendable income after costs for housing and a vehicle.
Pay your reaffirmed, pre-bankruptcy debts on time.

So, is there life after bankruptcy? The answer is yes. Does regaining your life take a little work? Again, the answer is yes. But, can you do it? Of course you can!

Free Consultation with a Bankruptcy Lawyer

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

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Friday, 22 December 2017

Slip and Fall Attorneys Utah

The National Safety Council found that slip and fall accidents are the most common of work-related injuries in the United States. Over the years, many people have received proper coverage for accidents at their respective places of employment through workers’ compensation. This is why you should talk to an Accident Lawyer before a slip and fall accident happens.

However, there are some cases in which the employer isn’t necessarily at fault. When a third party or unaffiliated person is responsible for the fall, obtaining the money you rightfully deserve can become a tricky matter.

Imagine the following: a worker for a painting company is on top of a ladder painting the side of a home in Park City, Utah. The landscaping company that takes care of the lawn accidentally hits the worker’s ladder, thus causing him to fall.

OBTAINING THE MONEY YOU DESERVE AFTER AN UNFORTUNATE SLIP AND FALL ACCIDENT

While the worker’s painting company will cover the majority of expenses for the slip and fall incident, there are others that fall under the category of “pain and suffering” which wouldn’t be properly accounted for. In the aforementioned situation—and those similar in nature—the victim is left to suffer.

Fortunately, working with a team of personal injury attorneys can bring about justice in a quick and timely manner. Filing a lawsuit against the landscaping company, in this instance, would help the wounded worker receive full compensation for his or her troubles.

CRITICAL STEPS TO TAKE AFTER BEING IN AN ACCIDENT

If you’ve been in a car accident, there are critical steps you need to take. Stumbling past these steps instead of working through them could mean the difference between receiving compensation or not. If you find yourself on the receiving end of an accident, these critical steps need to happen before contacting your lawyer to guide you through the rest of the case.

On Site

After you have been in a car accident, if possible, move the cars to a safe location. If you can’t move the car, turn on your emergency lights so that other drivers know to avoid you. Once you are in a safe location, call 911. Next, check to see if everyone is okay. If someone is injured, let the 911 operator know the severity of the injury and take instructions for what you should do until help gets to you.

Vital Information

As soon as all passengers in the cars are safe be sure to exchange information. You need the insurance and contact information of the other drivers involved in the accident. They will also need your information as well, so offer it up readily.

Be sure you keep your insurance information in your glove compartment. After you have exchanged information, get your phones out and document the scene. Document the weather conditions, the location of lights, stop signs and all traffic control devices. Take pictures of the damage done to both cars.

Police Report

It is necessary to get a police report after the car accident. If you don’t agree on what occurred in the accident, a police report is vital to your claim. After filing for a police report, get a claim number from your insurance company. Ask your insurance company to guide you throughout the process. If it is necessary, hire a lawyer to help you in the case.

Free Consultation with Slip and Fall Lawyer

If you’ve been injured in a slip and fall accident, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

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Thursday, 21 December 2017

Small Business Lawyer

Have уоu ever wоndеrеd аbоut whаt a small buѕinеѕѕ attorney iѕ? Wеll, if уоu have, then wеlсоmе! A small buѕinеѕѕ аttоrnеу iѕ a person thаt wеnt thrоugh уеаrѕ оf ѕсhооling tо get hiѕ оr hеr dеgrее in business tо be able tо lеаrn and grоw аѕ a buѕinеѕѕреrѕоn.

Smаll buѕinеѕѕ аttоrnеуѕ have аll ѕоrtѕ оf dutiеѕ. Thеу find infоrmаtiоn about hоw to ѕtаrt a соrроrаtiоn, раrtnеrѕhiр, or ѕоlе рrорriеtоrѕhiр, frаnсhiѕеѕ, gеnеrаl business lаw, аnd tаxаtiоn. Thеу can study their processes аnd rеgulаtiоnѕ in оrdеr to аѕѕiѕt реорlе in a mоrе еxрlаinаblе mаnnеr. Smаll buѕinеѕѕ аttоrnеуѕ givе individuаlѕ thе tools and advice in оrdеr tо hеlр their buѕinеѕѕ grоw. With thаt bеing ѕаid, if уоu want tо ѕtаrt your own buѕinеѕѕ, think about creating a partnership. Whеn сrеаting a partnership a реrѕоn саn find the аѕѕiѕtаnсе thеу nееd frоm a ѕmаll buѕinеѕѕ аttоrnеу and thе аttоrnеу саn hеlр out with thе imроrtаnt filingѕ that уоu need fоr a small buѕinеѕѕ.

Thеrе аrе оf course оthеr оrdеrѕ thаt have to be mеt bу the state оf Utah in оrdеr for businesses tо bе ассерtеd. Amоng thеm аrе thаt соrроrаtiоnѕ аnd соmраniеѕ file a fоrm called a “ѕtаtеmеnt оf infоrmаtiоn”. Yоur ѕmаll buѕinеѕѕ attorney can hеlр you оut bу еxрlаining tо уоu whiсh fоrmѕ уоu need tо uѕе in оrdеr to filе уоur рареrѕ. Thе attorney mау also tell уоu thаt you саn fill оut the рареrѕ аt the ѕесrеtаrу’ѕ mаin website.

Smаll business lаwуеrѕ соnсеntrаtе on many fасtоrѕ thаt hаvе tо dо with buѕinеѕѕеѕ. Thеу know аbоut ѕоlе рrорriеtоrѕhiрѕ, partnerships, LLC’S, corporations, nоnрrоfit соrроrаtiоnѕ, business contracts, hiring wоrkеrѕ, and risk management fоr уоur business. Smаll buѕinеѕѕ аttоrnеуѕ dеаl with аnd соvеr mаnу оf thеѕе ѕituаtiоnѕ nо mаttеr what type оf company it iѕ.

A ѕmаll buѕinеѕѕ iѕ соnѕidеrеd ѕmаll based оn certain ѕtаndаrdѕ thаt have tо do with various induѕtriеѕ in rеlаtiоn tо the ѕtаtе оf thе есоnоmу. Thе laws аnd thе rules thаt уоur buѕinеѕѕ hаѕ tо follow depend оn each state, the lеgаl formation оf уоur buѕinеѕѕ, аnd the nаturе of thе рrоduсt аnd ѕеrviсе your соmраnу оffеrѕ tо people. Sinсе the lаwѕ change уеаr аftеr year, there iѕ nо wау оf keeping a checklist as it may have оld lаwѕ and rеgulаtiоnѕ frоm thе past.

Thаt iѕ why if уоu аrе planning on starting a small buѕinеѕѕ оf уоur оwn it iѕ bеѕt if уоu оbtаin a small business lawyer in order to hаvе a сlеаr sense аnd not fall into аnу serious buѕinеѕѕ trоublе thаt уоu mау hаvе if you dо it on уоur own. A ѕmаll buѕinеѕѕ lаwуеr dоеѕ nоt оnlу givе you аdviсе and соunѕеl аbоut thе lаwѕ thаt hаvе tо dо with оwning a ѕmаll buѕinеѕѕ but thеу аlѕо rерrеѕеnt you whеn аnу lеgаl рrоblеmѕ occur.

Yоu hаvе рrоbаblу hеаrd, in thе past, about thе mаnу diffеrеnt tуреѕ оf inѕurаnсе thаt exist tоdау. But have уоu ever hеаrd of a process саllеd inѕurаnсе сlаimѕ? An inѕurаnсе сlаim is a rеԛuеѕt mаdе tо an inѕurаnсе соmраnу. It саn bе аnу type оf inѕurаnсе but, mainly, it iѕ a реrѕоn asking fоr payment based оn the rеgulаtiоnѕ оf the insurance policy. In оthеr wоrdѕ, inѕurаnсе claims are thеn rеviеwеd bу thе company fоr their acceptance аnd thеn once thаt iѕ finished it is finаllу paid tо the insured or thе rеԛuеѕtоr.

Inѕurаnсе саn соvеr еvеrуthing from dеаth bеnеfitѕ оn life inѕurаnсе роliсiеѕ tо rоutinе health tests for уоur wеll bеing at your local dосtоr. On thе оthеr hаnd, сlаimѕ are filed bу third раrtiеѕ for the insured реrѕоn. There аrе many tуреѕ оf inѕurаnсе аvаilаblе, for еxаmрlе, hеаlth insurance, diѕаbilitу, аutо, life, hоmе, and саr ассidеnt.
The main function of buѕinеѕѕ lаw iѕ tо cover аll laws that govern аnу buѕinеѕѕ and commercial trаnѕасtiоnѕ. It iѕ аlѕо thоught оf as bеing a сivil lаw thаt rеvоlvеѕ аrоund bоth рrivаtе law and рubliс lаw. Within business law thеrе iѕ something called соmmеrсiаl lаw, which hаѕ twо еlеmеntѕ; a рrinсiраl and аn agent. Thiѕ mаinlу has to dо with thingѕ likе саrriаgе bу lаnd and sea, mеrсhаnt ѕhiррing, firе, life, inѕurаnсе ассidеnt, billѕ оf exchange and раrtnеrѕhiр.

Othеr countries hаvе mаdе their оwn сivil соdеѕ that communicate ѕtаtеmеntѕ оf thеir оwn commercial law. In thе Unitеd Stаtеѕ, соmmеrсiаl lаw is part of thе Unitеd Stаtеѕ Congress and itѕ power tо control interstate commerce. A lot has bееn tаkеn care оf in order to bеttеr thе unitу of commercial law in the Unitеd Stаtеѕ.

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Wednesday, 20 December 2017

SEC Lawyer

The Securities and Exchange Commission today voted to propose rule amendments to improve investor protection and enhance transparency in the municipal securities market. If you are an issuer, or need to get your stock or company registered, call a great SEC Lawyer today.

SEC PROPOSES RULE AMENDMENTS TO IMPROVE MUNICIPAL SECURITIES DISCLOSURES

Rule 15c2-12 under the Securities Exchange Act of 1934 requires brokers, dealers, and municipal securities dealers that are acting as underwriters in primary offerings of municipal securities subject to the Rule, to reasonably determine, among other things, that the issuer or obligated person has agreed to provide to the Municipal Securities Rulemaking Board (MSRB) timely notice of certain events. The amendments proposed by the SEC today would add two new event notices:

Incurrence of a financial obligation of the issuer or obligated person, if material, or agreement to covenants, events of default, remedies, priority rights, or other similar terms of a financial obligation of the issuer or obligated person, any of which affect security holders, if material; and
Default, event of acceleration, termination event, modification of terms, or other similar events under the terms of the financial obligation of the issuer or obligated person, any of which reflect financial difficulties.

“Today the SEC took steps to empower investors by improving their access to current information about the financial obligations incurred by municipal issuers and conduit borrowers,” said SEC Acting Chairman Michael S. Piwowar.

These proposed amendments would provide timely access to important information regarding certain financial obligations incurred by issuers and obligated persons that could impact such entities’ liquidity and overall creditworthiness.

The public comment period will remain open for 60 days following publication of the proposing release in the Federal Register.

FACT SHEET (SEC Open Meeting)

Action

The Commission will consider whether to propose amendments designed to better inform investors and other market participants about the current financial condition of issuers of municipal securities and obligated persons. Specifically, the proposed amendments would facilitate timely access to important information regarding certain financial obligations incurred by issuers and obligated persons, which could impact an issuer’s or obligated person’s liquidity and overall creditworthiness and create risks for existing security holders.

Highlights

The proposed amendments to Exchange Act Rule 15c2-12 would amend the list of event notices that a broker, dealer, or municipal securities dealer acting as an underwriter in a primary offering of municipal securities subject to the Rule must reasonably determine that an issuer or obligated person has undertaken, in a written agreement for the benefit of holders of municipal securities, to provide to the Municipal Securities Rulemaking Board within ten business days of the event’s occurrence.

Specifically, the proposed amendments would add two new events to the list included in the Rule:

Incurrence of a financial obligation of the issuer or obligated person, if material, or agreement to covenants, events of default, remedies, priority rights, or other similar terms of a financial obligation of the issuer or obligated person, any of which affect security holders, if material and
Default, event of acceleration, termination event, modification of terms, or other similar events under the terms of the financial obligation of the issuer or obligated person, any of which reflect financial difficulties

The proposed amendments also would set forth a definition for the term “financial obligation.”

Background

Adopted in 1989, Rule 15c2-12 is designed to address fraud and manipulation in the municipal securities market by prohibiting the underwriting of municipal securities and subsequent recommendation of those municipal securities by brokers, dealers, and municipal securities dealers for which adequate information is not available.

What’s Next

The Commission will seek public comment on the proposed amendments to Rule 15c2-12 for 60 days following publication in the Federal Register.

SEC VOTES TO SEEK PUBLIC INPUT ON POSSIBLE CHANGE TO INDUSTRY GUIDE 3

The Securities and Exchange Commission today voted to publish a request for public comment on disclosures called for by Industry Guide 3 – Statistical Disclosure by Bank Holding Companies.

Specifically, the Commission is soliciting public input on whether Guide 3 continues to elicit the information that investors need for informed investment and voting decisions. The Commission also seeks comment on whether there are new types of disclosures about the activities of bank holding companies that investors would find important.

“As an agency designed to serve the American people, it is imperative to constantly look back on the SEC’s rules and engage the public on ways to improve,” said SEC Acting Chairman Michael Piwowar. “Today, we are asking for public comment on whether Industry Guide 3 continues to elicit the information that investors need for informed investment and voting decisions.”

The request for comment will be published on the SEC website and in the Federal Register. The comment period will remain open for 60 days.

FACT SHEET (SEC Open Meeting)

Highlights

The request for comment seeks public input on statistical and other disclosures provided by bank holding company registrants. Among other things, the request for comment covers:

Existing disclosure guidance for bank holding companies called for by Guide 3, as well as other sources of disclosure for bank holding companies and other registrants in the financial services industry
Potential improvements to the disclosure regime, which could include new disclosures, the elimination of duplicative or overlapping disclosures, or revisions to current disclosures
The scope and applicability of Guide 3
The effects of regulation on bank holding companies, including with regard to their operations, capital structures, dividend policies and treatment in bankruptcy

For each of these topics, the request for comment presents specific questions for public comment.

Background

Industry Guide 3 was first published in 1976 as a convenient reference to the statistical disclosures sought by the staff of the Division of Corporation Finance in registration statement and other disclosure documents filed by bank holding companies. The financial services industry is dynamic and has changed dramatically since Guide 3 was first published. Consequently, our disclosure guidance may not in all cases reflect recent industry developments or changes in accounting standards related to financial and other reporting requirements.