The ELFA State Law Compendium is a guide to the 50 states and portions of Canada that includes select statutes, caselaw and comments relevant to the equipment finance industry. It also serves as a springboard for researching legal questions. Recently, volunteer attorney members of ELFA made several updates to the Compendium, including 12 updates to the Kentucky section, eight updates to Pennsylvania and one update to Massachusetts.
Updates to KY included:
- Accord and Satisfaction
- Attorneys’ Fees
- Dissolved De Facto Corporations
- Evergreen Contract Provisions
- Foreign Corporation Capacity to Sue in Kentucky
- Foreign Judgments
- Forum Selection Clause
- Governing Law Clause
- Interest, Usury, and Late Charges
- Lender’s License
- Possessory Liens – Landlord Liens that can Trump the Lessor's Right to Equipment
- Vicarious Liability/Indemnity; Liquidated Damages
Updates to PA included:
- Artisans & Services Liens
- Attorneys’ Fee Clauses
- Choice of Law Clauses
- Forum Selection Clauses
- Landlord Liens
- Late Charges
- Qualification to do Business in the State
- Usury
Updates to MA included:
Make sure you’re aware of the latest changes — check out this valuable ELFA member benefit at https://www.elfaonline.org/knowledge-hub/state-law-compendium.
Become a Content Contributor
The State Law Compendium is made possible through the cooperation, dedication and ongoing efforts of attorneys who provide and update its statutes, cases and comments. ELFA’s Legal Resources Subcommittee welcomes attorneys who would like to volunteer to develop or update compendium content. Please contact Legal Resources Subcommittee co-chairs Molly Simon (msimon@leasedirect.com) or Michael Gallo (mgallo@leafnow.com) for information.
The State Law Compendium is part of the ELFA Knowledge Hub, the source for business intelligence on the equipment finance industry.