Why do I need to file a UCC 1?

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. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.

Where do I file my UCC 1?

In all cases, you should file a UCC-1 with the secretary of state's office in the state where the debtor is incorporated or organized (if a business), or lives (if an individual).

How do I fill out a UCC1 financial statement?

Filer Information. Name and phone number of contact at filer. Email contact at filer. Debtor Information. Organization or individual's name. Mailing address. Secured Party Information. Organization or individual's name. Mailing address. Collateral Information. Description of collateral.

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Arkansas UCC1 Financing Statement

Arkansas UCC1 Financing Statement

Name: Arkansas UCC1 Financing Statement
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.62 (475 reviews)

Category:

Arkansas Secretary of State - Uniform Commercial Code

State:

Arkansas

Control #:

AR-UCC1

Format:

Instant download

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Public form

Description Arkansas Ucc 1 Form

UCC1 - Financing Statement - Arkansas - For use after July 1, 2001. 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.

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FAQ

Section 9-503 of the UCC provides various, more specific rules regarding the sufficiency of a debtor's name on a financing statement.However, unlike with a security agreement, on a financing statement it is acceptable to use a supergeneric description of collateral.

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. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.

In all cases, you should file a UCC-1 with the secretary of state's office in the state where the debtor is incorporated or organized (if a business), or lives (if an individual).

UCC-1 Financing Statements do not have to be signed by either the Debtor or Secured Party; however, they must be authorized.Although the UCC-1 Financing Statement does not require signatures, any attachment such as the legal description or special terms and conditions may require the signature of the Debtor.

Searching Secretary of State Records Online. Locate the correct secretary of state's website. UCC financing statement forms must be filed in the state where the borrower is located. Most states have online directories of UCC filings available on the secretary of state's website.

When is a UCC-1 Filed? UCC-1 filings typically happen when a loan is first originated. If the borrower has loans from more than one lender, the first lender to file the UCC-1 is first in line for the borrower's assets. This motivates lenders to file a UCC-1 as soon as a loan is made.

Filer Information. Name and phone number of contact at filer. Email contact at filer. Debtor Information. Organization or individual's name. Mailing address. Secured Party Information. Organization or individual's name. Mailing address. Collateral Information. Description of collateral.

The financing statement is generally filed with the office of the state secretary of state, in the state where the debtor is located - for an individual, the state where the debtor resides, for most kinds of business organizations the state of incorporation or organization.

The UCC-1 Financing Statement is filed to protect a lender's or creditor's security interest by giving public notice that there is a right to take possession of and sell certain assets for repayment of a specific debt with a certain debtor.

Arkansas UCC1 Financing Statement

Description Arkansas Ucc 1 Form

Arkansas Ucc Filing Related forms

How to fill out Arkansas UCC1 Financing Statement?

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State Of Arkansas Ucc Financiing Statemetns Form popularity

Ucc Filing Arkansas Other Form Names

FAQ

Is a UCC financing statement a security agreement?

Why do I need to file a UCC 1?

Where do I file my UCC 1?

Does a UCC financing statement need to be signed?

How do I know if I have a UCC filing?

When must a UCC-1 financial statement be filed?

How do I fill out a UCC1 financial statement?

Where should UCC financing statements be filed?

Why do you file a UCC financing statement?

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