Common use of Statutory Lien Clause in Contracts

Statutory Lien. If you owe us money as a borrower, co-borrower or guarantor, under certain circumstances federal or state statutes may grant us a statutory lien on funds deposited within covered borrowers' asset accounts. We may be able to exercise a statutory right to take a security interest in funds deposited in an account at any time, provided that the security interest is not otherwise prohibited by applicable law and we comply with the MLA regulations.

Appears in 4 contracts

Samples: Credit Card Agreement, Credit Card Agreement, Credit Card Agreement

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