§ 314.9 - Recorded statement for Project Personal Property.

§ 314.9 Recorded statement for Project Personal Property.

Cross Reference

Link to an amendment published at 82 FR 57062, Dec. 1, 2017.

For all Projects which EDA determines involve the acquisition or improvement of significant items of Personal Property, including ships, machinery, equipment, removable fixtures, or structural components of buildings, the Recipient shall execute provide notice of the Federal Interest in all Project Personal Property by executing a Uniform Commercial Code Financing Statement (Form UCC-1, as provided by State law) or other statement of EDA's interest the Federal Interest in the Project Personal Property, acceptable in form and substance to EDA, which statement must be perfected and placed of record in accordance with applicable law, with continuances re-filed as appropriate. Whether or not a statement is required by EDA to be recorded, the Recipient must hold title to the all Project Personal Property acquired or improved as part of the Project, except as otherwise provided in this part.

[79 82 FR 7613857062, Dec. 191, 20142017]