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LSDefine

Simple English definitions for legal terms

certificate creditor

Read a random definition: Dodd-Frank: Title II - Orderly Liquidation Authority

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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Dkk
9:59
Man, hate this conversation cus it just reminds me of the gay guy that used to always ask me for them.
BulbasaurNoLikeCardio
9:59
That cold snap that hit texas is heaven though, opening windows in the house and using the fireplace
snow
10:00
it really is bulb. it was hot as hell for the longest time
BulbasaurNoLikeCardio
10:00
@Dkk: You could of made so much money
KnowledgeableRitzyWasp
10:00
that sounds heavenly
babycat
10:00
Aw Dkk has trauma from the gay guy who wanted to fuck his arches
snow
10:00
lmaooooo
BulbasaurNoLikeCardio
10:00
@snow: winter is tattoo season and since that cold snap hit I got one done and have three sessions scheduled lol I love the cold
snow
10:00
whys that?? you're lowkey inspiring me now
snow
10:01
ive been wanting a thigh tat for so long
snow
10:01
or maybe something on my knee, but i heard thats hella painful
Dkk
10:01
I wouldn't say trauma, the trauma would probably come from seeing my friends head get crushed by an LTV and feeling the bag of glass that was his skull in my hands. Or knowing a kid I mentored shot himself with a bullet he used to keep around his neck that I allowed him to have illegally.
Dkk
10:01
Feet shit though, just annoying.
KnowledgeableRitzyWasp
10:01
dkk that is heavy stuff
snow
10:01
jesus dk
BulbasaurNoLikeCardio
10:01
Winter is tattoo season because you are less likely to be in the sun exposing the healng tattoos, you dont go swimming or tanning in winter either so you don't miss out on the fun stuff of summer
MinorHomelyStoat
10:02
Guys
MinorHomelyStoat
10:02
Do u think I will hear from au today
snow
10:02
homely i hope we do!
MinorHomelyStoat
10:02
Yes is the only correct answer ty
Dkk
10:02
Lmfao, it's just part of life in the military. Couple years ago a guy I knew got crushed by a tree. Is what it is.
snow
10:02
@BulbasaurNoLikeCardio: thats smart. i dont know anything about tattoo care lol
babycat
10:02
Also piercings are better to get in the winter
snow
10:02
dk i feel like you would do great in criminal defense
soap
10:02
you good Dk?
snow
10:03
i got my nose pierced last thanksgiving and it got infected @babycat
Dkk
10:03
Probably could just shock the jury into sideing with me lol
babycat
10:03
I mean bc you can’t go swimming with a piercing
Dkk
10:03
Ahh yeah, just hate that word. Trauma. Hate how people use it.
babycat
10:03
So you want to do it in winter when you won’t be missing it. Sorry abt ur nose though
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