Shreveport Louisiana UCC1 Financing Statement Addendum

• Category: Louisiana Contracts - Uniform Commercial Code
• State: Louisiana
• City: Shreveport
• Control #: LA-UCC1-A
• Format: Word; PDF; Rich Text

Description

UCC1 - Financing Statement Addendum - Louisiana - For use after July 1, 2001. This form permits you to add an additional debtor if necessary to cover collateral as specified in the statement. The Shreveport Louisiana UCC1 Financing Statement Addendum is a crucial legal document used in commercial transactions to provide additional information pertaining to a UCC1 financing statement filed in the state of Louisiana. This addendum serves to enhance the original financing statement and ensure clarity and accuracy of the information provided. The UCC1 Financing Statement Addendum in Shreveport Louisiana provides space for various relevant details, such as amendments, changes, or corrections to the original UCC1 financing statement. It enables individuals or businesses involved in secured transactions to make necessary adjustments, additions, or policy changes to the initial filing. There are different types of Shreveport Louisiana UCC1 Financing Statement Addendum that can be categorized based on the nature of the changes made. These may include: 1. Amendment Addendum: This type of addendum is used when there is a need to modify or amend specific details within the original financing statement. It allows the debtor to update information such as changes in collateral description, debtor's name or address, secured party information, or any other relevant details. 2. Continuation Addendum: A continuation addendum is crucial when the initial financing statement is set to expire within five years from its filing date. This addendum extends the effectiveness of the original UCC1 financing statement, ensuring continuous perfection of security interests. 3. Termination Addendum: When the security interest or lien on a particular collateral is no longer in effect, a termination addendum is used to remove the UCC1 financing statement from public record. This addendum acts as an official notice that the security interest has been released or satisfied, providing clarity to potential creditors or interested parties. 4. Assignment Addendum: In cases where the secured party chooses to assign their rights or interest in the collateral to another party, an assignment addendum is used. This addendum documents the transfer of rights and ensures the new secured party's information is correctly reflected in the UCC1 financing statement. 5. Partial Release Addendum: When a debtor fulfills their financial obligation partially, a partial release addendum is filed to remove specific collateral and its corresponding security interest from the original financing statement. This addendum recognizes that a portion of the secured debt has been satisfied and releases the associated collateral. It is important to note that the specific terminology or classification of the Shreveport Louisiana UCC1 Financing Statement Addendum may vary slightly based on local regulations or court rules. However, the purpose and essence of these various addendums remain consistent — to provide additional information, amendments, terminations, or assignments related to a UCC1 financing statement.

The Shreveport Louisiana UCC1 Financing Statement Addendum is a crucial legal document used in commercial transactions to provide additional information pertaining to a UCC1 financing statement filed in the state of Louisiana. This addendum serves to enhance the original financing statement and ensure clarity and accuracy of the information provided. The UCC1 Financing Statement Addendum in Shreveport Louisiana provides space for various relevant details, such as amendments, changes, or corrections to the original UCC1 financing statement. It enables individuals or businesses involved in secured transactions to make necessary adjustments, additions, or policy changes to the initial filing. There are different types of Shreveport Louisiana UCC1 Financing Statement Addendum that can be categorized based on the nature of the changes made. These may include: 1. Amendment Addendum: This type of addendum is used when there is a need to modify or amend specific details within the original financing statement. It allows the debtor to update information such as changes in collateral description, debtor's name or address, secured party information, or any other relevant details. 2. Continuation Addendum: A continuation addendum is crucial when the initial financing statement is set to expire within five years from its filing date. This addendum extends the effectiveness of the original UCC1 financing statement, ensuring continuous perfection of security interests. 3. Termination Addendum: When the security interest or lien on a particular collateral is no longer in effect, a termination addendum is used to remove the UCC1 financing statement from public record. This addendum acts as an official notice that the security interest has been released or satisfied, providing clarity to potential creditors or interested parties. 4. Assignment Addendum: In cases where the secured party chooses to assign their rights or interest in the collateral to another party, an assignment addendum is used. This addendum documents the transfer of rights and ensures the new secured party's information is correctly reflected in the UCC1 financing statement. 5. Partial Release Addendum: When a debtor fulfills their financial obligation partially, a partial release addendum is filed to remove specific collateral and its corresponding security interest from the original financing statement. This addendum recognizes that a portion of the secured debt has been satisfied and releases the associated collateral. It is important to note that the specific terminology or classification of the Shreveport Louisiana UCC1 Financing Statement Addendum may vary slightly based on local regulations or court rules. However, the purpose and essence of these various addendums remain consistent — to provide additional information, amendments, terminations, or assignments related to a UCC1 financing statement.