What documents are reviewed when you order an Entity Review? Well, that depends on they type of entity being reviewed. As a private lender, bank, or credit union, you can be assured that Eagle Eye Review will review the entity formation document(s) AND all state filings available as well as any amendments. Below you will find the documents required for each entity-type

Corporation:

1. Articles of Incorporation;
2. Most recent annual filing with the applicable state agency, if applicable;
3. Bylaws of the corporation;
4. Consent by the Directors of the corporation: This consent states that (i) the director consents to the subject transaction and the specific loan amount of the transaction, (ii) that the person(s) signing the loan documents is/are authorized to execute the loan documents, and (iii) that the person(s) signing has the authority to bind the corporation to all the terms, conditions, and obligations of the loan documents; and
5. Any other documentation or approvals that might be required to determine who has the proper authority to sign the loan documents on behalf of the entity.

Limited Liability Company:

1. Articles of Organization that is file-stamped by the applicable state agency;
2. Most recent annual filing with the applicable state agency, if applicable;
3. Executed operating agreement of the LLC;
4. If applicable, consent by all or the required number or percentage interest of members of the LLC. This consent would state that (i) the member consents to the subject transaction and the specific loan amount of the transaction, (ii) that the person(s) signing the loan documents is/are authorized to execute the documents in said capacity; (iii) that the person(s) signing has the authority to bind the LLC to all the terms, conditions, and obligations of the loan documents; and
5. If applicable, any other documentation or approvals that might be required to determine who has the proper authority to sign the loan documents on behalf of the entity.

Limited Partnership:

1. Certificate of Limited Partnership that is file-stamped by the applicable state agency;
2. Most recent annual filing with the applicable state agency, if applicable;
3. Executed Limited Partnership Agreement; and
4. Any other documentation or approvals that might be required to determine who has the proper authority to sign the loan documents on behalf of said entity.

General Partnership:

1. Generally speaking, general Partnerships are not required to file registration documents with a state agency. However, should applicable state laws deviate from this general principle of law, any applicable registration documents file stamped by the applicable state agency;
2. Executed General Partnership Agreement; and
3. Any other documentation or approvals that might be required to determine who has the proper authority to sign the loan documents on behalf of said entity.

Revocable Trust:

1. Trust Agreement, and any amendments thereto.
2. Any other documentation or approvals that might be required to determine who has the proper authority to sign the loan documents on behalf of said entity.

Irrevocable Trust Or Situations Where the Trust Was Split Into Multiple Trusts:

1. Trust Agreement, and any amendments thereto.
2. For certain trusts in which one or more of the original trustee(s)/trustor(s) has: (1) died or (2) become incapacitated, requiring the trust to be split into two or more sub-trusts, the Firm may require that Client obtain a legal opinion from the trust’s legal counsel. In such cases, the Firm shall be entitled to rely upon the correctness of such legal opinion and the Firm’s entity review shall consist solely of a review of such legal opinion.
3. Such legal opinion should include opinions as to (a) the identity of the trust and the trustee(s), (b) the authority of the trust and the trustee(s) to enter into the loan transaction and perform the trust’s obligations under the loan documents, (c) the legal counsel’s recommendation as to the proper signature block for the trust, and (d) recommended title vesting.