UCC1 - Financing Statement Addendum - Arkansas - For use after July 1, 2001. This form permits you to add an additional debtor if necessary to cover collateral as specified in the statement.
The Little Rock Arkansas UCC1 Financing Statement Addendum is an important document that supplements the UCC1 Financing Statement in the state of Arkansas. This addendum provides additional information and details regarding the secured transactions and serves as a means to perfect security interests. Keywords: Little Rock Arkansas, UCC1 Financing Statement Addendum, secured transactions, perfect security interests. In Little Rock, Arkansas, the UCC1 Financing Statement Addendum is an essential legal document used to provide supplementary information in conjunction with the UCC1 Financing Statement. It is designed to serve as an attachment to the original financing statement, providing additional details and clarifying certain aspects of a secured transaction. This addendum plays a crucial role in determining priority rights, ensuring legal compliance, and protecting the rights and interests of both parties involved in a secured transaction. It is a legally binding document that must be filed with the appropriate authorities in order to create, establish, and maintain a valid security interest. The Little Rock Arkansas UCC1 Financing Statement Addendum contains several key elements. It typically includes a variety of relevant information such as: 1. Identification of the debtor and secured party: The addendum specifies the names and addresses of both the debtor (the individual or business granting the security interest) and the secured party (the person or entity receiving the security interest). 2. Description of the collateral: The addendum provides a detailed description of the collateral being used as security for the transaction. This description can be broad or specific, depending on the nature of the collateral. 3. Amendments and modifications: If there are any amendments or modifications made to the original UCC1 Financing Statement, the addendum will outline these changes and ensure the accuracy and validity of the information provided. 4. Additional terms and conditions: The addendum may include specific provisions, terms, or conditions that further define the secured transaction and the rights and obligations of the parties involved. In Little Rock, Arkansas, there are different types of UCC1 Financing Statement Addendums that can be utilized depending on the specific circumstances of the transaction. Some common types include: 1. Amendment Addendum: This addendum is used when there is a need to modify or update information contained in the original UCC1 Financing Statement. It is filed to reflect any changes in the collateral, debtor, secured party, or terms of the secured transaction. 2. Assignment Addendum: This type of addendum is filed when there is a transfer of the security interest from one secured party to another. It is essential to ensure a smooth transition of rights and responsibilities between the parties involved. 3. Continuation Addendum: A continuation addendum is used to extend the effectiveness of the UCC1 Financing Statement. It is filed before the initial filing expires and allows the secured party to maintain their priority rights for a longer period. In summary, the Little Rock Arkansas UCC1 Financing Statement Addendum is a vital document that complements the UCC1 Financing Statement. It enables secured parties to provide additional information, make amendments, or clarify important details related to a secured transaction. By utilizing this addendum correctly, individuals and businesses can protect their security interests and ensure legal compliance in Little Rock, Arkansas.The Little Rock Arkansas UCC1 Financing Statement Addendum is an important document that supplements the UCC1 Financing Statement in the state of Arkansas. This addendum provides additional information and details regarding the secured transactions and serves as a means to perfect security interests. Keywords: Little Rock Arkansas, UCC1 Financing Statement Addendum, secured transactions, perfect security interests. In Little Rock, Arkansas, the UCC1 Financing Statement Addendum is an essential legal document used to provide supplementary information in conjunction with the UCC1 Financing Statement. It is designed to serve as an attachment to the original financing statement, providing additional details and clarifying certain aspects of a secured transaction. This addendum plays a crucial role in determining priority rights, ensuring legal compliance, and protecting the rights and interests of both parties involved in a secured transaction. It is a legally binding document that must be filed with the appropriate authorities in order to create, establish, and maintain a valid security interest. The Little Rock Arkansas UCC1 Financing Statement Addendum contains several key elements. It typically includes a variety of relevant information such as: 1. Identification of the debtor and secured party: The addendum specifies the names and addresses of both the debtor (the individual or business granting the security interest) and the secured party (the person or entity receiving the security interest). 2. Description of the collateral: The addendum provides a detailed description of the collateral being used as security for the transaction. This description can be broad or specific, depending on the nature of the collateral. 3. Amendments and modifications: If there are any amendments or modifications made to the original UCC1 Financing Statement, the addendum will outline these changes and ensure the accuracy and validity of the information provided. 4. Additional terms and conditions: The addendum may include specific provisions, terms, or conditions that further define the secured transaction and the rights and obligations of the parties involved. In Little Rock, Arkansas, there are different types of UCC1 Financing Statement Addendums that can be utilized depending on the specific circumstances of the transaction. Some common types include: 1. Amendment Addendum: This addendum is used when there is a need to modify or update information contained in the original UCC1 Financing Statement. It is filed to reflect any changes in the collateral, debtor, secured party, or terms of the secured transaction. 2. Assignment Addendum: This type of addendum is filed when there is a transfer of the security interest from one secured party to another. It is essential to ensure a smooth transition of rights and responsibilities between the parties involved. 3. Continuation Addendum: A continuation addendum is used to extend the effectiveness of the UCC1 Financing Statement. It is filed before the initial filing expires and allows the secured party to maintain their priority rights for a longer period. In summary, the Little Rock Arkansas UCC1 Financing Statement Addendum is a vital document that complements the UCC1 Financing Statement. It enables secured parties to provide additional information, make amendments, or clarify important details related to a secured transaction. By utilizing this addendum correctly, individuals and businesses can protect their security interests and ensure legal compliance in Little Rock, Arkansas.
