Missouri Financing Statement

• Category: Contracts - Sale of Goods
• State: Multi-State
• Control #: US-01693-AZ
• Format: Word; Rich Text

Description

This form is a UCC financing statement, used to record a security interest on personal property. A Missouri Financing Statement is a legal document used to provide notice of a security interest in personal property. It is filed with the Missouri Secretary of State's office as a part of the Uniform Commercial Code (UCC) requirements. A UCC Financing Statement is typically used when there is a loan or credit agreement involving personal property as collateral. By filing the Missouri Financing Statement, the lender establishes their priority interest in the collateral, protecting their rights in case of default or bankruptcy by the debtor. The Missouri Financing Statement includes various important details pertaining to the transaction, such as: 1. Debtor and Secured Party Information: This section identifies the individuals or businesses involved in the transaction. The debtor is the party who owes the debt secured by the collateral, while the secured party is the one holding the security interest (usually a lender). 2. Collateral Description: The collateral description is a crucial component, as it outlines the specific property serving as security for the loan. It can include a wide range of assets, such as inventory, equipment, motor vehicles, accounts receivable, or even intellectual property. 3. UCC Filing Number and Duration: Each Missouri Financing Statement is assigned a unique UCC filing number upon submission. The document's duration is determined by the type of collateral involved. Generally, financing statements remain effective for five years unless renewed or terminated. Missouri offers two primary types of Financing Statements: 1. Initial Financing Statement: This is the most common type filed when establishing a security interest for the first time. It serves as the initial notice to other potential creditors, securing the priority interest of the lender. 2. Amendment Financing Statement: This type is used for making changes or updates to an existing Financing Statement. Amendments might include modifications to debtor or secured party information, changes in collateral, or extensions of the original filing's duration. It is important to note that the Missouri Financing Statement must adhere to specific formatting requirements and include accurate information to be accepted by the Secretary of State's office. Additionally, it is advisable to consult legal professionals or use online filing services to ensure proper completion and submission of the document.

A Missouri Financing Statement is a legal document used to provide notice of a security interest in personal property. It is filed with the Missouri Secretary of State's office as a part of the Uniform Commercial Code (UCC) requirements. A UCC Financing Statement is typically used when there is a loan or credit agreement involving personal property as collateral. By filing the Missouri Financing Statement, the lender establishes their priority interest in the collateral, protecting their rights in case of default or bankruptcy by the debtor. The Missouri Financing Statement includes various important details pertaining to the transaction, such as: 1. Debtor and Secured Party Information: This section identifies the individuals or businesses involved in the transaction. The debtor is the party who owes the debt secured by the collateral, while the secured party is the one holding the security interest (usually a lender). 2. Collateral Description: The collateral description is a crucial component, as it outlines the specific property serving as security for the loan. It can include a wide range of assets, such as inventory, equipment, motor vehicles, accounts receivable, or even intellectual property. 3. UCC Filing Number and Duration: Each Missouri Financing Statement is assigned a unique UCC filing number upon submission. The document's duration is determined by the type of collateral involved. Generally, financing statements remain effective for five years unless renewed or terminated. Missouri offers two primary types of Financing Statements: 1. Initial Financing Statement: This is the most common type filed when establishing a security interest for the first time. It serves as the initial notice to other potential creditors, securing the priority interest of the lender. 2. Amendment Financing Statement: This type is used for making changes or updates to an existing Financing Statement. Amendments might include modifications to debtor or secured party information, changes in collateral, or extensions of the original filing's duration. It is important to note that the Missouri Financing Statement must adhere to specific formatting requirements and include accurate information to be accepted by the Secretary of State's office. Additionally, it is advisable to consult legal professionals or use online filing services to ensure proper completion and submission of the document.