Grand Rapids Michigan UCC3 Financing Statement Amendment

• Category: Michigan Secretary of State - Uniform Commercial Code
• State: Michigan
• City: Grand Rapids
• Control #: MI-UCC3
• Format: PDF

Description

UCC3 - Financing Statement Amendment - Michigan - 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. Grand Rapids Michigan UCC3 Financing Statement Amendment is a crucial legal document used to modify, revise or update previously filed UCC3 financing statements in connection with securing loans or conducting business transactions. Under the Uniform Commercial Code (UCC) established in Michigan, UCC3 financing statements are filed to provide public notice of a creditor's security interest in a debtor's assets. This amendment is filed in the Kent County Clerk's Office, located in Grand Rapids, Michigan, to make changes to an existing UCC3 financing statement. The purpose of filing such an amendment is to ensure accuracy and reflect any modifications or additions made to the original statement. Several types of Grand Rapids Michigan UCC3 Financing Statement Amendments could be filed, depending on the nature of the changes: 1. Change in Debtor Information Amendment: This type of amendment is filed when there are modifications related to the debtor's information, such as a change in the debtor's name, address, or organizational structure. The amendment ensures that the information is up-to-date and accurate for public record keeping. 2. Collateral Amendment: If there is a need to modify or add collateral associated with the original UCC3 financing statement, a collateral amendment is filed. This amendment is necessary to reflect any changes in the debtor's assets that are being used as collateral for the loan or transaction. 3. Termination Amendment: A termination amendment is filed to revoke or terminate an existing UCC3 financing statement. This amendment is typically filed when a debtor has repaid the secured debts fully or when the security agreement is no longer applicable. 4. Continuation Amendment: In cases where the duration of the original UCC3 financing statement is about to expire, a continuation amendment is filed. This amendment extends the duration of the filing, ensuring the security interest remains in effect. 5. Assignment Amendment: An assignment amendment is filed when there is a transfer or assignment of the secured interest to another party. This amendment is used to update the public record and provide notice of the new party that holds the security interest. It is crucial to ensure accurate and up-to-date information within UCC3 financing statements as they affect various financial transactions and parties involved. Properly filing the appropriate amendment ensures compliance with Michigan UCC regulations and maintains the integrity of the public record.

Grand Rapids Michigan UCC3 Financing Statement Amendment is a crucial legal document used to modify, revise or update previously filed UCC3 financing statements in connection with securing loans or conducting business transactions. Under the Uniform Commercial Code (UCC) established in Michigan, UCC3 financing statements are filed to provide public notice of a creditor's security interest in a debtor's assets. This amendment is filed in the Kent County Clerk's Office, located in Grand Rapids, Michigan, to make changes to an existing UCC3 financing statement. The purpose of filing such an amendment is to ensure accuracy and reflect any modifications or additions made to the original statement. Several types of Grand Rapids Michigan UCC3 Financing Statement Amendments could be filed, depending on the nature of the changes: 1. Change in Debtor Information Amendment: This type of amendment is filed when there are modifications related to the debtor's information, such as a change in the debtor's name, address, or organizational structure. The amendment ensures that the information is up-to-date and accurate for public record keeping. 2. Collateral Amendment: If there is a need to modify or add collateral associated with the original UCC3 financing statement, a collateral amendment is filed. This amendment is necessary to reflect any changes in the debtor's assets that are being used as collateral for the loan or transaction. 3. Termination Amendment: A termination amendment is filed to revoke or terminate an existing UCC3 financing statement. This amendment is typically filed when a debtor has repaid the secured debts fully or when the security agreement is no longer applicable. 4. Continuation Amendment: In cases where the duration of the original UCC3 financing statement is about to expire, a continuation amendment is filed. This amendment extends the duration of the filing, ensuring the security interest remains in effect. 5. Assignment Amendment: An assignment amendment is filed when there is a transfer or assignment of the secured interest to another party. This amendment is used to update the public record and provide notice of the new party that holds the security interest. It is crucial to ensure accurate and up-to-date information within UCC3 financing statements as they affect various financial transactions and parties involved. Properly filing the appropriate amendment ensures compliance with Michigan UCC regulations and maintains the integrity of the public record.