The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) has been passed by the U.S. Senate and House and signed by President Trump.
Jim Stewart, corporate transactional attorney with a special focus on maritime and recreational boating matters, was featured in the November 2017 issue of Great Lakes Banker Magazine. He has spent more than 35 years in yacht financing, vessel documentation, including preferred ship mortgages, and assisting clients with obtaining construction permits and bottomland leases. A frequent speaker on issues relating to recreational boating and maritime lending, he serves as General Counsel to the Michigan Boating Industries Association and the National Marine Lenders Association.
“Boat Lending: Avoid That Sinking Feeling” advises bankers and lenders that the system of ownership and lien perfection being considered relies on many factors, including: the size of the vessel, state of principal use, use of the vessel, and lender’s preference.