UCC1 - Financing Statement - Texas - For use until August 1, 2013. This form is a financing statement used to cover certain collateral as specified in the form. This Financing Statement complies will all applicable state laws.
League City, Texas UCC1 Financing Statement is a legal document used in the state of Texas to establish a creditor's interest in personal property as collateral for a loan or credit transaction. It is governed by the Uniform Commercial Code (UCC) Article 9. The UCC1 Financing Statement serves as a public record that notifies other parties, including potential creditors, of a secured party's claim on specific assets. This statement is filed with the Texas Secretary of State's Office or the County Clerk's Office, depending on the nature of the collateral. Keywords: League City, Texas, UCC1 Financing Statement, legal document, creditor's interest, personal property, collateral, loan, credit transaction, Uniform Commercial Code, UCC, Article 9, public record, secured party, assets, Texas Secretary of State's Office, County Clerk's Office. In League City, Texas, there are different types of UCC1 Financing Statements that may be used based on the specific circumstances: 1. General UCC1 Financing Statement: This type of statement is commonly used when the secured party has a security interest in various types of collateral, such as equipment, inventory, or accounts receivable. It provides a broad description of the collateral without the need for itemized listing. 2. Specific Collateral UCC1 Financing Statement: This statement is used when the secured party wants to provide a detailed list of specific assets that serve as collateral for the loan or credit transaction. It may include information like serial numbers, vehicle identification numbers (VIN's), or other unique identifiers. 3. Amended or Continuation UCC1 Financing Statement: When there are changes to an existing UCC1 Financing Statement, such as an amendment to the collateral, updated debtor or secured party information, or an extension of the original filing period, an amended or continuation statement must be filed to reflect these changes. 4. Termination UCC1 Financing Statement: This statement is filed when the debt is fully repaid or the collateral is no longer used as security. It ensures the removal of the public record and releases the secured party's interest in the assets. 5. Partial Release UCC1 Financing Statement: In situations where only a portion of the collateral is released or satisfied, a partial release statement is filed to indicate the specific assets that are no longer subject to the original UCC1 Financing Statement. Keywords: League City, Texas, UCC1 Financing Statement, general, specific collateral, amended, continuation, termination, partial release, secured party, debtor, collateral, public record. It is crucial for creditors and debtors to understand the different types of League City, Texas UCC1 Financing Statements and file them accurately and timely to protect their interests and comply with the legal requirements set forth by the Uniform Commercial Code in Texas.League City, Texas UCC1 Financing Statement is a legal document used in the state of Texas to establish a creditor's interest in personal property as collateral for a loan or credit transaction. It is governed by the Uniform Commercial Code (UCC) Article 9. The UCC1 Financing Statement serves as a public record that notifies other parties, including potential creditors, of a secured party's claim on specific assets. This statement is filed with the Texas Secretary of State's Office or the County Clerk's Office, depending on the nature of the collateral. Keywords: League City, Texas, UCC1 Financing Statement, legal document, creditor's interest, personal property, collateral, loan, credit transaction, Uniform Commercial Code, UCC, Article 9, public record, secured party, assets, Texas Secretary of State's Office, County Clerk's Office. In League City, Texas, there are different types of UCC1 Financing Statements that may be used based on the specific circumstances: 1. General UCC1 Financing Statement: This type of statement is commonly used when the secured party has a security interest in various types of collateral, such as equipment, inventory, or accounts receivable. It provides a broad description of the collateral without the need for itemized listing. 2. Specific Collateral UCC1 Financing Statement: This statement is used when the secured party wants to provide a detailed list of specific assets that serve as collateral for the loan or credit transaction. It may include information like serial numbers, vehicle identification numbers (VIN's), or other unique identifiers. 3. Amended or Continuation UCC1 Financing Statement: When there are changes to an existing UCC1 Financing Statement, such as an amendment to the collateral, updated debtor or secured party information, or an extension of the original filing period, an amended or continuation statement must be filed to reflect these changes. 4. Termination UCC1 Financing Statement: This statement is filed when the debt is fully repaid or the collateral is no longer used as security. It ensures the removal of the public record and releases the secured party's interest in the assets. 5. Partial Release UCC1 Financing Statement: In situations where only a portion of the collateral is released or satisfied, a partial release statement is filed to indicate the specific assets that are no longer subject to the original UCC1 Financing Statement. Keywords: League City, Texas, UCC1 Financing Statement, general, specific collateral, amended, continuation, termination, partial release, secured party, debtor, collateral, public record. It is crucial for creditors and debtors to understand the different types of League City, Texas UCC1 Financing Statements and file them accurately and timely to protect their interests and comply with the legal requirements set forth by the Uniform Commercial Code in Texas.