UCC3 - Financing Statement Amendment - Colorado - For use after July 1, 2001. This amendment is to be filed in the real estate records. This Financing Statement complies with all applicable state statutes.
A UCC3 Financing Statement Amendment in Centennial, Colorado refers to a specific legal document used to modify or update information in an original UCC3 Financing Statement. This amendment is crucial in maintaining accurate records regarding secured transactions and providing proper notice to potential creditors. In Centennial, Colorado, like many other states, the Uniform Commercial Code (UCC) governs commercial transactions and creates a framework for documenting security interests in personal property. Under the UCC, a Financing Statement is filed with the Secretary of State to establish a creditor's interest in collateral pledged by a debtor to secure a loan or other obligation. However, circumstances may arise where changes or corrections need to be made to the original Financing Statement. In such cases, a UCC3 Financing Statement Amendment is filed to update the information contained within the initial filing. This amendment serves to maintain the accuracy and validity of public records related to secured transactions and ensures that interested parties have up-to-date information. Centennial, Colorado recognizes multiple types of UCC3 Financing Statement Amendments, which vary depending on the nature of the modification: 1. Name Change Amendment: If a debtor or secured party changes their legal name, such as due to marriage, divorce, business name change, or any other reason, a Name Change Amendment is filed. This amendment updates the Financing Statement with the new name, ensuring consistency in the public records. 2. Collateral Change Amendment: In cases where the collateral initially identified in the Financing Statement is modified or revised, a Collateral Change Amendment is filed. This amendment specifies the changes made to the collateral description, ensuring accurate information for future reference. 3. Termination Amendment: If the security interest is no longer valid or has been fully satisfied, a Termination Amendment is filed to remove the Financing Statement from the public record. This amendment serves as notice that the debtor's obligation has been fulfilled or the collateral has been released. 4. Debtor Information Amendment: If there are modifications to the debtor's identifying information, such as their address, social security number, or other personal identifiers, a Debtor Information Amendment is filed. This amendment ensures that the public record accurately reflects the debtor's current details, allowing for effective communication between the debtor, secured party, and potential creditors. By filing the appropriate UCC3 Financing Statement Amendment in Centennial, Colorado, all parties involved can maintain accurate records, protect their rights, and ensure the transparency and reliability of commercial transactions. It is important to consult legal professionals or the Secretary of State's office for specific guidance and requirements when filing such amendments.A UCC3 Financing Statement Amendment in Centennial, Colorado refers to a specific legal document used to modify or update information in an original UCC3 Financing Statement. This amendment is crucial in maintaining accurate records regarding secured transactions and providing proper notice to potential creditors. In Centennial, Colorado, like many other states, the Uniform Commercial Code (UCC) governs commercial transactions and creates a framework for documenting security interests in personal property. Under the UCC, a Financing Statement is filed with the Secretary of State to establish a creditor's interest in collateral pledged by a debtor to secure a loan or other obligation. However, circumstances may arise where changes or corrections need to be made to the original Financing Statement. In such cases, a UCC3 Financing Statement Amendment is filed to update the information contained within the initial filing. This amendment serves to maintain the accuracy and validity of public records related to secured transactions and ensures that interested parties have up-to-date information. Centennial, Colorado recognizes multiple types of UCC3 Financing Statement Amendments, which vary depending on the nature of the modification: 1. Name Change Amendment: If a debtor or secured party changes their legal name, such as due to marriage, divorce, business name change, or any other reason, a Name Change Amendment is filed. This amendment updates the Financing Statement with the new name, ensuring consistency in the public records. 2. Collateral Change Amendment: In cases where the collateral initially identified in the Financing Statement is modified or revised, a Collateral Change Amendment is filed. This amendment specifies the changes made to the collateral description, ensuring accurate information for future reference. 3. Termination Amendment: If the security interest is no longer valid or has been fully satisfied, a Termination Amendment is filed to remove the Financing Statement from the public record. This amendment serves as notice that the debtor's obligation has been fulfilled or the collateral has been released. 4. Debtor Information Amendment: If there are modifications to the debtor's identifying information, such as their address, social security number, or other personal identifiers, a Debtor Information Amendment is filed. This amendment ensures that the public record accurately reflects the debtor's current details, allowing for effective communication between the debtor, secured party, and potential creditors. By filing the appropriate UCC3 Financing Statement Amendment in Centennial, Colorado, all parties involved can maintain accurate records, protect their rights, and ensure the transparency and reliability of commercial transactions. It is important to consult legal professionals or the Secretary of State's office for specific guidance and requirements when filing such amendments.