Mark Required Fields In Legal Maryland UCC Forms For Free

The Uniform Commercial Code (UCC) provides a central location in Maryland for filing a public notice of a secured transaction. This central filing office is the State Department of Assessments and Taxation. This notice, called a financing statement, indicates a commercial agreement between a debtor and a secured party.

?How to File UCC Documents with the Department Filing Fees: Filings of 8 or fewer pages cost $25 and filings of 9 or more pages cost $75. If you have further questions please email the UCC division at sdat.ucc@maryland.gov or call at 410-767-1459.

Maryland law follows the model Uniform Commercial Code's (UCC) definition of commercial reasonableness (Md. Code Ann., Com. Law???9-627). Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable (Md.

A UCC filing, also known as a UCC lien or a UCC-1, is a financing statement which lenders can file against your business with your secretary of state. When you take out a secured loan, the lender may file a lien to protect the asset(s) you committed to secure financing.

Essentially, a UCC-1 can be described as a financing statement. In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property.

Fill in the debtor's name and mailing address. It may be an individual, or it may be in the name of a business or organization. If the loan is in the name of the business, include the business mailing address. There is space for additional debtors. Include them exactly as they appeared on the loan agreement.