Cook Illinois UCC3 Financing Statement Amendment

• Category: Illinois Contracts - Statewide - Uniform Commercial Code
• State: Illinois
• County: Cook
• Control #: IL-UCC3
• Format: Word; PDF; Rich Text

Description

UCC3 - Financing Statement Amendment - Illinois - 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. Cook Illinois UCC3 Financing Statement Amendment is a legal document that modifies or updates the information contained in an existing UCC3 Financing Statement filed in Cook County, Illinois. The Uniform Commercial Code (UCC) is a set of laws that governs various aspects of commercial transactions in the United States. Keywords: Cook Illinois UCC3 Financing Statement Amendment, legal document, modify, update, UCC3 Financing Statement, Cook County, Illinois, Uniform Commercial Code, commercial transactions. When a secured party has an active UCC3 Financing Statement filed in Cook County, they may require changes to the statement due to various reasons. The Cook Illinois UCC3 Financing Statement Amendment is the appropriate legal form to make these modifications or updates. There are different types of Cook Illinois UCC3 Financing Statement Amendments, depending on the specific changes needed. Here are some common types: 1. Information Changes: This type of amendment is used when there are updates or corrections related to the debtor's or secured party's identifying information. It may include changes to names, addresses, or other pertinent details. 2. Collateral Changes: If there is a need to modify or add collateral to the existing UCC3 Financing Statement, this type of amendment is utilized. It ensures that all the relevant collateral is accurately listed and reflects the current arrangement between the parties involved. 3. Satisfaction or Termination: When the debt or obligation underlying the UCC3 Financing Statement has been paid off or fulfilled, a satisfaction or termination amendment is filed to remove the statement from the public records. This amendment serves as proof that the secured party's interest in the collateral has been released. 4. Continuation: In some cases, the initial UCC3 Financing Statement may reach its expiration date. To maintain priority and keep the statement effective, a continuation amendment is filed before or within a specified timeframe. This amendment extends the validity of the original statement. 5. Amendment Summary: If multiple changes need to be made simultaneously, an amendment summary is filed. This document includes a consolidated list of modifications made to the existing UCC3 Financing Statement. It's important to note that Cook Illinois UCC3 Financing Statement Amendment forms must be completed accurately and submitted to the appropriate governmental authority within the required timeframe to ensure compliance with legal requirements and uphold the secured party's rights. In summary, Cook Illinois UCC3 Financing Statement Amendment is a legal document used for modifying or updating an existing UCC3 Financing Statement filed in Cook County, Illinois. Different types of amendments include information changes, collateral changes, satisfaction or termination, continuation, and amendment summaries.

Cook Illinois UCC3 Financing Statement Amendment is a legal document that modifies or updates the information contained in an existing UCC3 Financing Statement filed in Cook County, Illinois. The Uniform Commercial Code (UCC) is a set of laws that governs various aspects of commercial transactions in the United States. Keywords: Cook Illinois UCC3 Financing Statement Amendment, legal document, modify, update, UCC3 Financing Statement, Cook County, Illinois, Uniform Commercial Code, commercial transactions. When a secured party has an active UCC3 Financing Statement filed in Cook County, they may require changes to the statement due to various reasons. The Cook Illinois UCC3 Financing Statement Amendment is the appropriate legal form to make these modifications or updates. There are different types of Cook Illinois UCC3 Financing Statement Amendments, depending on the specific changes needed. Here are some common types: 1. Information Changes: This type of amendment is used when there are updates or corrections related to the debtor's or secured party's identifying information. It may include changes to names, addresses, or other pertinent details. 2. Collateral Changes: If there is a need to modify or add collateral to the existing UCC3 Financing Statement, this type of amendment is utilized. It ensures that all the relevant collateral is accurately listed and reflects the current arrangement between the parties involved. 3. Satisfaction or Termination: When the debt or obligation underlying the UCC3 Financing Statement has been paid off or fulfilled, a satisfaction or termination amendment is filed to remove the statement from the public records. This amendment serves as proof that the secured party's interest in the collateral has been released. 4. Continuation: In some cases, the initial UCC3 Financing Statement may reach its expiration date. To maintain priority and keep the statement effective, a continuation amendment is filed before or within a specified timeframe. This amendment extends the validity of the original statement. 5. Amendment Summary: If multiple changes need to be made simultaneously, an amendment summary is filed. This document includes a consolidated list of modifications made to the existing UCC3 Financing Statement. It's important to note that Cook Illinois UCC3 Financing Statement Amendment forms must be completed accurately and submitted to the appropriate governmental authority within the required timeframe to ensure compliance with legal requirements and uphold the secured party's rights. In summary, Cook Illinois UCC3 Financing Statement Amendment is a legal document used for modifying or updating an existing UCC3 Financing Statement filed in Cook County, Illinois. Different types of amendments include information changes, collateral changes, satisfaction or termination, continuation, and amendment summaries.