[C055]
A coverage designed specifically for banks and lending institutions to protect against any financial loss that may occur when that bank or institution is not able to obtain possession of property used as collateral in a chattel mortgage or similar loan. The bank or institution is also protected when it cannot enforce its rights under a chattel mortgage, loan or instrument because of non-filing with the proper public authority.
Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100