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LSDefine

Simple English definitions for legal terms

certificate creditor

Read a random definition: local custom

A quick definition of certificate creditor:

A certificate creditor is someone who is owed money by a city or town, but instead of getting paid, they receive a certificate of indebtedness because the city or town doesn't have the money to pay them. It's like getting an IOU instead of actual money.

A more thorough explanation:

A certificate creditor is a type of creditor who is owed a debt by a municipal corporation and receives a certificate of indebtedness instead of payment because the municipality is unable to pay the debt.

  • A city owes a construction company $100,000 for building a new park. However, the city is facing financial difficulties and cannot pay the debt. The construction company becomes a certificate creditor and receives a certificate of indebtedness instead of payment.
  • A town owes a landscaping company $50,000 for maintaining its parks. The town is unable to pay the debt and issues a certificate of indebtedness to the landscaping company, making them a certificate creditor.

These examples illustrate how a certificate creditor is a creditor who is owed a debt by a municipal corporation and receives a certificate of indebtedness instead of payment because the municipality is unable to pay the debt.

certificate | certificated security

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WorthlessAttractiveZombie
9:35
it sent a million times lol
jackfrost11770
9:35
WHAT HAPPENED
TheAdoptedOne
9:35
yeah i thought you were tweaking for a second
jackfrost11770
9:35
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
jackfrost11770
9:36
to be fair this accurately represents my mental state
KnowledgeableRitzyWasp
9:37
election day psychosis coming in hot (fordham)
jackfrost11770
9:38
usc pls pull through .....
jackfrost11770
9:38
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
TheAdoptedOne
9:46
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
TheAdoptedOne
9:54
Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)
ClassyPleasantHeron
10:01
The "date changes" at Michigan really don't mean anything. We had to do them in undergrad admissions whenever a Georgia applicant picked the country instead of the state, because we'd have to remove the TOEFL requirement and reassign the application from the international application readers.
soapy
10:06
Classy, does that mean they may look at your application, and that look doesn't necessarily trigger any date change?
1a2b3c4d26z
10:06
Man
1a2b3c4d26z
10:07
Walkin to the bus
1a2b3c4d26z
10:07
What a good day to get into law school
ClassyPleasantHeron
10:11
@soapy: I don't know for sure about the law school. For undergrad, once the application is complete, it's assigned to a reader the following Monday. If we had to make any changes, it's because a reader saw something that needed to be changed and the application needed to be re-read after that change.
soapy
10:12
Ahh, got it. Thank you for the insight!
ClassyPleasantHeron
10:14
You're welcome. FWIW, I have no idea what's up with the address changes. We didn't have to do any of that, except for the Georgia state vs country kinds of things.
soapy
10:15
I've heard it theorized that some schools will change the address from "St." --> "Street" as they prepare to send out admissions packets. That's the rumor, anyways.
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