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Committed to building the best business environment for North American equipment dealers.
NAEDA

Legislative and Regulatory Resources

Download a copy of the Bonus Depreciation statement.

Download a copy of the DISCLOSE Act Letter to Senate

The U.S. Department of Labor has a valuable resource - an interactive Web site developed to help employers and employees understand their rights and responsibilities under numerous federal employmnet laws. The elaws Web site can be found at www.dol.gov/elaws.

Both employees and employers can benefit from the elaws Advisors. These Advisors mimic the interaction an individual might have with a DOL representative by asking questions, providing information, and directing the user to the appropriate resolution.


Download a copy of the Unemployment Release


 Equipment Titling and Registration

A special task force is discussing issues related to titling and registration. NAEDA is a member of the Equipment Titling and Registration Task Force, which developed a briefing paper that outlines the issues under review.

Click on the link below to download a copy:

Titling and Registration Briefing Paper

 

For information or to submit comments, contact: titlingandregistration@naeda.com.



FACTA Red Flags Rule deadline extended

December 31, 2010, is the new deadline set by the Federal Trade Commission (FTC) for financial institutions and creditors. Only the enforcement deadline is extended, the actual law is in place and dealers need to have compliance plans to secure nonpublic information to protect against identity theft. The extension was determined as necessary to provide additional resources and compliance guidance to businesses. The extension also will give creditors and financial institutions more time to review guidelines and put into place written identity theft prevention programs to protect nonpublic and personal information of customers and employees.

An association-prepared summary of the guidelines, which includes a sample plan, has been developed for U.S. equipment dealers. Click FACTA to review or download.


Click here for a summary of the Federal Reserve meeting in Kansas City, June 8-9, 2010.


NAEDA and its affiliated associations developed this interactive map of sales tax information to provide dealers with a single-source summary of exemptions by province and state.

Click here for Sales Tax Exemptions map.

For information, contact NAEDA.



What is the Uniform Commercial Code (UCC)?

The Uniform Commercial Code (UCC) is a law enacted in all 50 states to regulate commercial transactions. Article 9 of the UCC allows for a public notice (UCC-1) to be filed in a designated state filing office by dealers (or lenders) to perfect their security interests in equipment that is bought and/or financed. The UCC-1 filing is valid for five years and can be continued to extend the financing statement for additional terms of five years. Filing is usually with the office of the Secretary of State in the state of residence, incorporation or business formation.

Why you need to know about the UCC law

As a buyer and/or a seller of equipment, you need to protect yourself and your business from potential losses because of outstanding equipment liens.

NAEDA resources for conducting a UCC lien search

NAEDA has developed the Universal Commercial Code (UCC) Lien Search program to help dealers search for and discover problem liens before costly equipment transactions are made. For more information about the NAEDA UCC Lien Search program, contact NAEDA.

  • UCC brochure: “The Universal Commercial Code (UCC) – What it means to your business”
  • UCC resources by state: An interactive U.S. map linking to state business entity searches, UCC search and UCC forms
  • UCC release form:  NOTE: The Disclaimer of Security Interest form is designed to address the blanket security interest issues many dealers face when they take in on trade any piece of used equipment. When signed by a lender, i.e., a bank, this form releases the security interest of the bank in the specifically described equipment that is being traded in for new equipment.
  • Click here for a statement from NAEDA legal counsel regarding UCC lien searches.
Study of Rural Transportation Issues  
Cover of Study of Rural Transportation Issues
This report is in response to Section 6206 of the Food, Conservation, and Energy Act of 2008 (PL 110-246), which directs the Secretaries of Agriculture and Transportation jointly to conduct a study of rural transportation issues. The report reviews transportation and its effect on rural communities, with an emphasis on agricultural transportation. It looks in depth into each of the four major modes of transportation commonly used by agriculture in the United States: trucking, railroads, barges, and ocean vessels, examining each in the light of its ability to meet rural America’s transportation needs now and in the future. It identifies some broad issues that merit attention from policy makers.
 
To access the Contents of the report, click here.