A future advance against a line of credit must be of the same type as the original advance to be subject to the same collateral.

Name: A future advance against a line of credit must be of the same type as the original advance to be subject to the same collateral.
Brand: Quizplus
Rating: 4.8 (38 reviews)

Question

Quizplus · Accepted Answer

A future advance against a line of credit does not need to be of the same type as the original advance to be subject to the same collateral, as long as the terms of the credit agreement allow for it.

A Future Advance Against a Line of Credit Must Be