ULC/LLC/Corps registered in each State?
Those of you holding notes through entities, do you register the corp in each state that you hold a note in? I'm of the view that the business is trading notes and the location of the underlying asset is incidental to the business. On the other hand, I'd hate to lose a note's security if a judge found that the Corp was not holding a valid note because holding a note secured by an asset in state X represented doing business in that state.
For those inclined to suggest, "just register, what's the harm?" - in my instance, its roughly a thousand dollars per state, with ongoing attorney for service fees and tax implications and I need to identify the physical business premises, which does not exist as - in my view at least - I'm not actually doing any business there.
A good example of point I think, if I make a car loan and sell that note, that car owner goes to college out of state, is the person who bought my original loan now required to register in the new state? If not, why would mortgages be different?