perfected

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perfected

adj. having completed all necessary legal steps to achieve a result, such as perfected title to property. (See: perfect)

See: choate lien, elaborate

References in periodicals archive ?

Thus, security interests should be perfected by recording UCC-1 Financing Statements.

Can intellectual property be 'imperfected'? When it's used as collateral, who is first in line in case of default?

A cooperative organization security interest becomes perfected when the cooperative interest first comes into existence, and remains perfected as long as the cooperative interest exists.

Changes to UCC Code impacting co-ops

Even if the lender's counsel perfected its lien in room revenues appropriately, this is no guaranty that the lender will have a claim to those revenues generated after a bankruptcy filing, he warned.