South Carolina UCC-3ad Financing Statement Amendment Addendum is a form used to amend a secured party's existing financing statement that was previously filed in South Carolina. It is important to file this form in order to keep the financing statement up-to-date. This form is used to update information such as the secured party, the debtor, the collateral, and the filing office. There are two types of South Carolina UCC-3ad Financing Statement Amendment Addendum: Amendment to Financing Statement and Amendment to Financing Statement with Assignment of Security Interest. The Amendment to Financing Statement is used to change information on an existing financing statement, such as the secured party or the collateral. The Amendment to Financing Statement with Assignment of Security Interest is used to change the secured party and assign the security interest to a new secured party.
South Carolina UCC-3ad Financing Statement Amendment Addendum
Description
How to fill out South Carolina UCC-3ad Financing Statement Amendment Addendum?
If you’re searching for a way to properly complete the South Carolina UCC-3ad Financing Statement Amendment Addendum without hiring a legal representative, then you’re just in the right place. US Legal Forms has proven itself as the most extensive and reliable library of formal templates for every private and business scenario. Every piece of documentation you find on our web service is designed in accordance with federal and state regulations, so you can be sure that your documents are in order.
Follow these straightforward guidelines on how to obtain the ready-to-use South Carolina UCC-3ad Financing Statement Amendment Addendum:
- Make sure the document you see on the page complies with your legal situation and state regulations by examining its text description or looking through the Preview mode.
- Enter the document name in the Search tab on the top of the page and choose your state from the list to locate an alternative template if there are any inconsistencies.
- Repeat with the content verification and click Buy now when you are confident with the paperwork compliance with all the demands.
- ​Log in to your account and click Download. Register for the service and opt for the subscription plan if you still don’t have one.
- Use your credit card or the PayPal option to purchase your US Legal Forms subscription. The document will be available to download right after.
- Choose in what format you want to save your South Carolina UCC-3ad Financing Statement Amendment Addendum and download it by clicking the appropriate button.
- Import your template to an online editor to complete and sign it rapidly or print it out to prepare your paper copy manually.
Another great advantage of US Legal Forms is that you never lose the paperwork you acquired - you can pick any of your downloaded blanks in the My Forms tab of your profile whenever you need it.
Form popularity
FAQ
Generally, the debtor must first make a formal (or authenticated) demand to the secured party of record to terminate the UCC-1. This process involves sending a signed written request to the secured party of record demanding for said party to file a UCC-3 termination statement.
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.
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.
It's possible to avoid a UCC filing by taking out an unsecured business loan rather than a secured one. For example, many online and alternative lenders offer unsecured loans, and you can get an SBA 7(a) loan of up to $25,000 without collateral.
Ask the lender to terminate the lien upon payoff. A good rule of thumb is to request that your lender file a UCC-3 form with your secretary of state as soon as possible after you pay off your loan. The UCC-3 will terminate the lien on your company's assets (or assets) and remove the UCC-1 filing.
In these situations, you can file a UCC-3 termination yourself with your secretary of state. You must swear under oath that you've satisfied the debt in full and complete the UCC termination form.
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.
For UCC and EFS, a termination creates a public record that a loan was repaid, a lien was removed, or some other obligation was met. The records will remain in our system until two years after they lapse.