title = "UCC-1 Filings and Lien Priority"

content = """
To 'perfect' its security interest in a borrower's business assets, Silver Oak
Bank must file a UCC-1 Financing Statement with the Secretary of State where the
borrower is incorporated.

**The Purpose of Perfection:**
Perfection ensures that the bank's claim to the collateral is legally recognized
against third parties, such as other lenders or a bankruptcy trustee.

**Lien Priority:**
- **First Lien:** The bank has the first right to the proceeds from the sale of
  the collateral.
- **Subordinated Lien:** The bank's claim is secondary to another lender's. This
  is higher risk and typically requires higher interest rates.

**Collateral Descriptions:**
A 'Blanket Lien' covers all current and future assets of the business, including
equipment, inventory, receivables, and intangibles. Specific liens may be used for
individual pieces of heavy equipment or specific real estate parcels.
"""

version = "0.0.1"
