UCC3 - Financing Statement Amendment Addendum - Georgia - For use after July 1, 2001. This form is to be used as an addendum to the financing statement amendment. This form is to be filed in the real estate records.
The Sandy Springs Georgia UCC3 Financing Statement Amendment Addendum is an essential legal document used to modify or update an existing UCC3 Financing Statement in Sandy Springs, Georgia. This addendum serves as an amendment to the original financing statement, outlining any changes or additions to the initial filing. By filing this document, creditors and interested parties are informed about any updates or modifications made to the UCC3 Financing Statement. This amendment addendum can be categorized into different types, depending on the nature of the change being made to the original financing statement. Some notable types include: 1. Amendment to Collateral: This addendum type is used when there is a need to include additional collateral or remove existing collateral from the financing statement. Creditors may file this amendment if there have been changes in the debtor's assets, requiring an update to the collateral details. 2. Amendment to Debtor Information: If there are modifications to the debtor's information, such as a legal name change, change in business structure, or alteration in the debtor's address, an amendment addendum is filed to update these details. 3. Continuation Amendment: This type of addendum is submitted to extend the lifespan of the initial financing statement. Typically, UCC financing statements expire after a certain period, and creditors must file a continuation amendment within a specific timeframe to maintain their priority rights for the collateral. 4. Termination Amendment: When a debt obligation is fully repaid or the collateral is no longer secured, creditors must file a termination amendment to formally remove the UCC3 Financing Statement from the public record. This ensures that the debtor's assets are no longer encumbered. 5. Amendment to Secured Party Information: In situations where there are changes in the secured party's information, such as a change of address, amendment addendums are filed to update these details. It is crucial to keep this information accurate and up-to-date for maintaining accurate record keeping. Filing the Sandy Springs Georgia UCC3 Financing Statement Amendment Addendum is an important step to ensure compliance with the Uniform Commercial Code (UCC) regulations and protect the rights of creditors and debtors. By promptly submitting the relevant addendum type based on the specific modifications required, creditors can maintain an accurate and comprehensive record of their security interests in Sandy Springs, Georgia.The Sandy Springs Georgia UCC3 Financing Statement Amendment Addendum is an essential legal document used to modify or update an existing UCC3 Financing Statement in Sandy Springs, Georgia. This addendum serves as an amendment to the original financing statement, outlining any changes or additions to the initial filing. By filing this document, creditors and interested parties are informed about any updates or modifications made to the UCC3 Financing Statement. This amendment addendum can be categorized into different types, depending on the nature of the change being made to the original financing statement. Some notable types include: 1. Amendment to Collateral: This addendum type is used when there is a need to include additional collateral or remove existing collateral from the financing statement. Creditors may file this amendment if there have been changes in the debtor's assets, requiring an update to the collateral details. 2. Amendment to Debtor Information: If there are modifications to the debtor's information, such as a legal name change, change in business structure, or alteration in the debtor's address, an amendment addendum is filed to update these details. 3. Continuation Amendment: This type of addendum is submitted to extend the lifespan of the initial financing statement. Typically, UCC financing statements expire after a certain period, and creditors must file a continuation amendment within a specific timeframe to maintain their priority rights for the collateral. 4. Termination Amendment: When a debt obligation is fully repaid or the collateral is no longer secured, creditors must file a termination amendment to formally remove the UCC3 Financing Statement from the public record. This ensures that the debtor's assets are no longer encumbered. 5. Amendment to Secured Party Information: In situations where there are changes in the secured party's information, such as a change of address, amendment addendums are filed to update these details. It is crucial to keep this information accurate and up-to-date for maintaining accurate record keeping. Filing the Sandy Springs Georgia UCC3 Financing Statement Amendment Addendum is an important step to ensure compliance with the Uniform Commercial Code (UCC) regulations and protect the rights of creditors and debtors. By promptly submitting the relevant addendum type based on the specific modifications required, creditors can maintain an accurate and comprehensive record of their security interests in Sandy Springs, Georgia.
