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Right of Setoff, Webinar
September 10, 2019 @ 10:00 am - 12:00 pm CDT
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- What are the legal requirements to create a "right of setoff?"
- What is the difference between a contractual right of setoff and a statutory right of setoff?
- What are the differences between setoff, garnishment, and foreclosure of security interest, and why are these terms frequently misused?
- What happens when a third party is competing with your financial institution's right of setoff?
- How does the automatic stay in bankruptcy affect the right of setoff?
- When is the right of setoff absolutely prohibited?
- How to handle notice to the customer?
- What is sample contractual language that can help your financial institution exercise its setoff rights?
- What are the liabilities that can be incurred when setoff is done incorrectly?