San Antonio Texas UCC3 Financing Statement Amendment

Name: San Antonio Texas UCC3 Financing Statement Amendment
Brand: US Legal Forms
Rating: 4.79 (465 reviews)

Category:

Contracts - Uniform Commercial Code - Financing Statements

State:

Multi-State

City:

San Antonio

Control #:

US-UCC3

Format:

Instant download

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Description

UCC3 - Financing Statement Amendment - For use after July 1, 2001. This amendment is to be filed in the real estate records. This Financing Statement complies with all applicable state statutes. The San Antonio Texas UCC3 Financing Statement Amendment refers to a legal process that allows for changes or modifications to be made to an existing UCC (Uniform Commercial Code) financing statement in San Antonio, Texas. This amendment is governed by the UCC, a set of laws that standardized commercial transactions across all states in the U.S. A UCC3 Financing Statement Amendment in San Antonio, Texas can be filed when there is a need to update or correct information provided on the original UCC3 financing statement. This amendment ensures accuracy and helps maintain the integrity of commercial transactions in the state. There are different types of San Antonio Texas UCC3 Financing Statement Amendments, which include: 1. Name Changes: This type of amendment is necessary when there is a change in the debtor's or secured party's name. It could be due to marriage, divorce, legal entity name changes, or errors in the original UCC filing. 2. Collateral Changes: When there is a need to add or remove collateral assets from the original UCC3 filing, a collateral change amendment is filed. This could involve the addition of new assets or the removal of assets that are no longer relevant to the secured party's interest. 3. Assignment Amendments: In cases where the secured party transfers their interest in the collateral to another party, an assignment amendment is filed. This amendment ensures that the new secured party's information is properly recorded and acknowledged. 4. Termination Amendments: If the financing statement is no longer enforceable, such as when a loan has been fully repaid or the transaction has been completed, a termination amendment is filed to remove the UCC3 financing statement from public record. Filing a San Antonio Texas UCC3 Financing Statement Amendment is crucial for maintaining accurate records and protecting the rights of all parties involved in commercial transactions. It is recommended to seek professional legal advice when dealing with UCC3 financing statement amendments to ensure compliance with all relevant laws and regulations in San Antonio, Texas.

The San Antonio Texas UCC3 Financing Statement Amendment refers to a legal process that allows for changes or modifications to be made to an existing UCC (Uniform Commercial Code) financing statement in San Antonio, Texas. This amendment is governed by the UCC, a set of laws that standardized commercial transactions across all states in the U.S. A UCC3 Financing Statement Amendment in San Antonio, Texas can be filed when there is a need to update or correct information provided on the original UCC3 financing statement. This amendment ensures accuracy and helps maintain the integrity of commercial transactions in the state. There are different types of San Antonio Texas UCC3 Financing Statement Amendments, which include: 1. Name Changes: This type of amendment is necessary when there is a change in the debtor's or secured party's name. It could be due to marriage, divorce, legal entity name changes, or errors in the original UCC filing. 2. Collateral Changes: When there is a need to add or remove collateral assets from the original UCC3 filing, a collateral change amendment is filed. This could involve the addition of new assets or the removal of assets that are no longer relevant to the secured party's interest. 3. Assignment Amendments: In cases where the secured party transfers their interest in the collateral to another party, an assignment amendment is filed. This amendment ensures that the new secured party's information is properly recorded and acknowledged. 4. Termination Amendments: If the financing statement is no longer enforceable, such as when a loan has been fully repaid or the transaction has been completed, a termination amendment is filed to remove the UCC3 financing statement from public record. Filing a San Antonio Texas UCC3 Financing Statement Amendment is crucial for maintaining accurate records and protecting the rights of all parties involved in commercial transactions. It is recommended to seek professional legal advice when dealing with UCC3 financing statement amendments to ensure compliance with all relevant laws and regulations in San Antonio, Texas.

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FAQ

If you need to remove a UCC filing form your credit report, ask the lender to file for its removal. In order to do this, they need to file a UCC-3 Financing Statement Amendment. You can also just wait it out. Depending on how long you have been with the lender, the filing may be removed within a few months.

UCC. A UCC3 is a change statement to a UCC1. It's an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It's a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.

Ask the lender to terminate the lien upon payoff. When you pay off a loan, a good rule of thumb is to immediately submit a request with the lender to file a UCC-3 form with your secretary of state. The UCC-3 will terminate the lien on your company's asset (or assets) and remove the UCC-1 filing.

To assign (1) some or all of Assignor's right to amend the identified financing statement, or (2) the Assignor's right to amend the identified financing statement with respect to some (but not all) of the collateral covered by the identified financing statement: Check box in item 3 and enter name of Assignee in item 7a

A UCC3 is a change statement to a UCC1. It's an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It's a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.

The secured party has 20 days to either terminate the filing or send a termination statement to the debtor that the debtor can then file. If this does not happen within the 20-day time frame, the debtor may file a UCC-3 termination statement.

Whether you are amending a filing or terminating a filing, if you are redirected to the UCC Services Request form, complete all tabs of the service request you can do this by making the changes and then clicking Next on the bottom right of the screen.

To amend your collateral description, click the button labeled View/Amend Collateral. After clicking this button, a pop-up will appear and will display the current collateral description and provide options to Add Collateral, Delete Collateral or Change Collateral.

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Amendment No. 1. This amendment to the Master Services Agreement of the UCC3 financings filed with this form and supplement No. 3, dated as of November 27, 2011, relating to the UCC3 Financing was entered into by and between the parties and by and between the lenders named herein as of November 27, 2011. Amendment No. 1 provides that the lenders named herein shall increase the total aggregate amount of capital by 1 million and shall maintain this increase until each is fully repaid. This amendment will be filed on Form 10-Q for the month ended January 28, 2012, to give the lenders additional time to pay the UCC3 Financing. (1) UCC3 Financing On December 29, 2010, the UCC3 financings were filed with this form and supplement No. 3, as amended, filed with the SEC (including a copy of the amendment thereto). By or through lenders named therein, as agents for UCC3 financings executed agreements on or around the first day of December 2010.

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San Antonio Texas UCC3 Financing Statement Amendment

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