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Utah UCC 3 Financing Statement Amendment Addendum Additional Party Form

Category:
Department of Commerce - Corporations Division - Uniform Commercial Code
State:
Utah
Control #:
UT-SKU-0178
Format:
PDF
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Description

UCC 3 Financing Statement Amendment Addendum Additional Party Form
The Utah UCC 3 Financing Statement Amendment Addendum Additional Party Form is a legal document used when a secured party wishes to add a party to a financing statement. This form must be filed with the Utah Division of Corporations and Commercial Code in order to add the new party. The form must be signed by the secured party and any additional party that is being added to the financing statement. There are two types of Utah UCC 3 Financing Statement Amendment Addendum Additional Party Form: one for adding a secured party and one for adding a debtor. The form includes fields for the name of the original secured party, the name of the additional party, and the address of the additional party. Once the form is completed and filed, the additional party is added to the financing statement, making them liable for the debt obligations specified in the financing statement.

The Utah UCC 3 Financing Statement Amendment Addendum Additional Party Form is a legal document used when a secured party wishes to add a party to a financing statement. This form must be filed with the Utah Division of Corporations and Commercial Code in order to add the new party. The form must be signed by the secured party and any additional party that is being added to the financing statement. There are two types of Utah UCC 3 Financing Statement Amendment Addendum Additional Party Form: one for adding a secured party and one for adding a debtor. The form includes fields for the name of the original secured party, the name of the additional party, and the address of the additional party. Once the form is completed and filed, the additional party is added to the financing statement, making them liable for the debt obligations specified in the financing statement.

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How to fill out Utah UCC 3 Financing Statement Amendment Addendum Additional Party Form?

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FAQ

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.

Secured party is a lender, seller, or other person in whose favor a security interest exists. Debtor is the person who owes payment or performance of the obligation that is secured. Security agreement is the agreement between the secured party and the debtor that creates or provides for a security interest.

How to complete a UCC1 (Step by Step) 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.

Original Financing Statement (UCC1) Subsection (a) (2) provides that the office in which to file a financing statement to perfect a security interest is the office of the Secretary of State in all other cases.

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.

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.

To put it in simple terms, the secured party is the creditor on the UCC loan. The creditor is the secured party because they have a financial interest in the collateral which the lien is on.

A secured creditor may be the holder of a real estate mortgage, a bank with a lien on all assets, a receivables lender, an equipment lender, or the holder of a statutory lien, among other types of entities.

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More info

Enter file number of initial financing statement as shown in item 1a of Amendment (Form UCC3) to which this Amendment. Addendum relates. 12.Addendum relates. 20. Complete item 13 in accordance with instructions on Amendment Addendum (Form UCC3Ad). Instructions for UCC Financing Statement Amendment (Form UCC3). Please type or laser-print this form. Enter information exactly as given in item 9 on Amendment form. 13. Item 13 is intended to cross-reference the Amendment (Form UCC3) and Amendment Addendum with the related Financing Statement (Form UCC1). Amendment Additional Party - Attachment to Financing Statement Amendment for additional party information. Addendum relates. 20.

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