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  • Pennsylvania UCC3Ad Financing Statement Amendment Addendum (National)

Pennsylvania UCC3Ad Financing Statement Amendment Addendum (National)

Category:
Department of State - Uniform Commercial Code
State:
Pennsylvania
Control #:
PA-SKU-0229
Format:
PDF
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Description

UCC3Ad Financing Statement Amendment Addendum (National)
The Pennsylvania UCC3Ad Financing Statement Amendment Addendum (National) is an official legal document that is used to amend or supplement a financing statement that was filed in the Pennsylvania Uniform Commercial Code (UCC) filing system. This amendment addendum is used to make changes to the information contained in the original financing statement, such as the debtor or secured party's name, address, or other relevant information. This addendum must be filed with the Pennsylvania UCC office and contain the same filing information as the original financing statement. The most common types of Pennsylvania UCC3Ad Financing Statement Amendment Addendum (National) are name change addenda, address change addenda, secured party of record change addenda, and financing statement termination addenda.

The Pennsylvania UCC3Ad Financing Statement Amendment Addendum (National) is an official legal document that is used to amend or supplement a financing statement that was filed in the Pennsylvania Uniform Commercial Code (UCC) filing system. This amendment addendum is used to make changes to the information contained in the original financing statement, such as the debtor or secured party's name, address, or other relevant information. This addendum must be filed with the Pennsylvania UCC office and contain the same filing information as the original financing statement. The most common types of Pennsylvania UCC3Ad Financing Statement Amendment Addendum (National) are name change addenda, address change addenda, secured party of record change addenda, and financing statement termination addenda.

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FAQ

An assignment adds a secured party. An amendment to add a secured party adds a secured party.

Pennsylvania became the first state to enact the UCC, and it became law there on July 1, 1954. The UCC editorial board issued a new code in 1957 in response to comments from various states and a special report by the Law Revision Commission of New York State. By 1966 48 states had enacted the code.

UCC-3 party amendments: A UCC-3 amendment is a type of filing used to change or add critical information about the debtor or the secured party. For example, they can be used to change the name or the address.

First, the debtor must send an authenticated demand to the secured party. The demand should be sent to the name/address of the secured party as indicated on the financing statement. 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.

In fact, it is sometimes called a UCC financing statement. 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.

What is a UCC Cooperative Addendum/UCC Addendum form: A filed UCC Cooperative Addendum form contains the names of the debtor, the secured party or its representatives, and the cooperative. It also holds information such as the property's address and the file number of the Initial UCC-1.

A UCC3 filed as a termination is strictly an amendment. It does not affect the status of the financing statement. A lien's status will only be affected by the lapse date. Upon lapse a lien will show as ?LAPSED-INACTIVE? for one (1) additional year. Administrative rule 34.05.

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.

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More info

If this Amendment (Form UCC3) is to be filed in the real estate records, complete the required information. (items 15, 16, and 17).Complete item 13 in accordance with instructions on Amendment Addendum (Form UCC3Ad). Enter information exactly as given in item 9 on Amendment form. 13. Instructions for UCC Financing Statement Amendment (Form UCC3). Please type or laser-print this form. Please follow all instructions for the National UCC Financing Statement AMENDMENT Addendum. (Form UCC3Ad) to complete this form. Enter file number of initial financing statement as shown in item 1a of Amendment (Form UCC3) to which this Amendment. Addendum relates. 12.

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