A Wyoming UCC Financing Statement Amendment Addendum is a document used to make changes to an existing secured transaction. It is a filing used to amend or supplement the information contained in an initial financing statement filed under the Uniform Commercial Code (UCC). The amendment addendum is filed with the Wyoming Secretary of State’s office and serves to update the initial financing statement. There are three types of Wyoming UCC Financing Statement Amendment Addendums: a Continuation Statement, an Amendment, and a Termination Statement. A Continuation Statement is used to extend the effectiveness of an existing financing statement beyond its initial expiration date. This is typically used when the secured party wishes to continue the lien and maintain its priority rights. An Amendment is used to modify existing information in the initial financing statement, such as the debtor’s name and address or the collateral. This is typically used when the debtor has changed their name or address, or when the secured party has added or removed collateral from the secured transaction. A Termination Statement is used to terminate an existing financing statement. This is typically used when the secured party wishes to release the lien and end the secured transaction. All Wyoming UCC Financing Statement Amendment Addendums must include the initial financing statement’s file number and must be signed by the secured party. The filing fee is typically $25 and should be submitted to the Wyoming Secretary of State’s office.
Wyoming UCC Financing Statement Amendment Addendum
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How to fill out Wyoming UCC Financing Statement Amendment Addendum?
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FAQ
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.
Form UCC3 is used to amend (make changes to) a UCC1 filing. The required information is: An acknowledgement name and address. (Recommended for return copy of the filing.)
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.
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.
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.
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.
An assignment adds a secured party. An amendment to add a secured party adds a secured party.