RetiredBroker asked a great question earlier about the Uhaul Investors Club collateral and I wanted to get a note out to make sure we are clear on some important details.
The important detail – whether it is a small detail or a larger detail just depends on you the investor-is that the notes that Uhaul (Amerco) sells ARE guaranteed by the parent holding company Amerco (Uhaul)
It is noted that the notes ARE NOT guaranteed by the wholly owned subsidiary Uhaul.
Since Amerco holds 100% of Uhaul I am not certain that the lack of guarantee by subsidiary Uhaul makes any difference as long as the parent backs the notes.
So what you have is the secured property as collateral for the notes–and further backing the collateral is the holding company Amerco guarantee.
So this all means one should review the quarterly and annual reports of Amerco (Uhaul) if you are a holder of any of their notes.
We have a page devoted to the Uhaul Investors Club where we will add our information.
Thanks to RetiredBroker for asking the initial question on this topic thus stimulating a little deeper dive into the details.
Also to others who caught my errors and got things pointed in the right direction–Max and others.