Oakland Michigan UCC3 Financing Statement Amendment Addendum

• Category: Michigan Secretary of State - Uniform Commercial Code
• State: Michigan
• County: Oakland
• Control #: MI-UCC3-A
• Format: PDF

Description

UCC3 - Financing Statement Amendment Addendum - Michigan - 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. Oakland Michigan UCC3 Financing Statement Amendment Addendum is an important legal document that pertains to amendments made to UCC3 Financing Statements in the state of Michigan, specifically in Oakland County. This addendum allows parties involved in a financing agreement to modify or update the original UCC3 Financing Statement, ensuring accuracy and compliance with current regulations. The Oakland Michigan UCC3 Financing Statement Amendment Addendum serves as a supporting document to the original UCC3 Financing Statement, providing a clear record of any modifications or changes made to the original filing. By submitting this addendum, parties can update important information such as debtor or secured party information, collateral description, or termination of the financing statement. It is crucial to understand that there can be different types of UCC3 Financing Statement Amendment Addendums depending on the specific changes being made. Some common types of addendums include: 1. Debtor Information Change Addendum: This addendum is utilized when there is a need to update or correct information regarding the debtor, such as name changes, address revisions, or other administrative changes. 2. Secured Party Information Change Addendum: When there are modifications to the secured party's information, this addendum is filed. This could include changes in name, address, or other contact details of the secured party involved in the financing agreement. 3. Collateral Description Modification Addendum: If there are alterations required in the description of the collateral, this addendum is used. It helps ensure that the financing statement accurately reflects the collateral being pledged in the agreement. 4. Termination Addendum: When the parties involved wish to terminate or cancel the UCC3 Financing Statement, a termination addendum is filed. This addendum formally acknowledges the release of any security interest previously recorded. It is important to note that the Oakland Michigan UCC3 Financing Statement Amendment Addendum must be completed accurately and submitted in accordance with the relevant laws and regulations of the state. Failure to comply with these requirements may result in potential legal issues or the inability to enforce or claim rights relating to the financing agreement. In summary, the Oakland Michigan UCC3 Financing Statement Amendment Addendum plays a crucial role in maintaining accurate and up-to-date records of modifications made to UCC3 Financing Statements. It provides a legally recognized channel for parties to amend, correct, or terminate the original filing as necessary, ensuring compliance and transparency in financial transactions.

Oakland Michigan UCC3 Financing Statement Amendment Addendum is an important legal document that pertains to amendments made to UCC3 Financing Statements in the state of Michigan, specifically in Oakland County. This addendum allows parties involved in a financing agreement to modify or update the original UCC3 Financing Statement, ensuring accuracy and compliance with current regulations. The Oakland Michigan UCC3 Financing Statement Amendment Addendum serves as a supporting document to the original UCC3 Financing Statement, providing a clear record of any modifications or changes made to the original filing. By submitting this addendum, parties can update important information such as debtor or secured party information, collateral description, or termination of the financing statement. It is crucial to understand that there can be different types of UCC3 Financing Statement Amendment Addendums depending on the specific changes being made. Some common types of addendums include: 1. Debtor Information Change Addendum: This addendum is utilized when there is a need to update or correct information regarding the debtor, such as name changes, address revisions, or other administrative changes. 2. Secured Party Information Change Addendum: When there are modifications to the secured party's information, this addendum is filed. This could include changes in name, address, or other contact details of the secured party involved in the financing agreement. 3. Collateral Description Modification Addendum: If there are alterations required in the description of the collateral, this addendum is used. It helps ensure that the financing statement accurately reflects the collateral being pledged in the agreement. 4. Termination Addendum: When the parties involved wish to terminate or cancel the UCC3 Financing Statement, a termination addendum is filed. This addendum formally acknowledges the release of any security interest previously recorded. It is important to note that the Oakland Michigan UCC3 Financing Statement Amendment Addendum must be completed accurately and submitted in accordance with the relevant laws and regulations of the state. Failure to comply with these requirements may result in potential legal issues or the inability to enforce or claim rights relating to the financing agreement. In summary, the Oakland Michigan UCC3 Financing Statement Amendment Addendum plays a crucial role in maintaining accurate and up-to-date records of modifications made to UCC3 Financing Statements. It provides a legally recognized channel for parties to amend, correct, or terminate the original filing as necessary, ensuring compliance and transparency in financial transactions.