Financing Statement form for use when collateral includes a Cooperative Interest. Filed with the New York filing office.
The Rochester New York UCC1 Financing Statement Cooperative Addendum is a legal document specific to the state of New York, used to provide additional information and details pertaining to cooperative interests in a UCC1 Financing Statement. Keywords: Rochester New York, UCC1 Financing Statement, Cooperative Addendum, legal document, additional information, cooperative interests. The UCC1 Financing Statement Cooperative Addendum is an attachment to the UCC1 Financing Statement, which is a legal form used to secure interests in personal property to guarantee loans or other financial transactions. This addendum is specifically designed for cooperative interests in Rochester, New York, offering a comprehensive outline of the cooperative arrangements involved in the transaction. Cooperative housing refers to a type of residential property in which each resident holds a share or membership interest, entitling them to occupy a specific unit or dwelling. Unlike traditional homeownership, where individuals purchase a particular property, cooperative members own shares in the cooperative corporation, giving them the right to occupy a specific unit within the cooperative building. The Rochester New York UCC1 Financing Statement Cooperative Addendum aims to accurately document the cooperative interest in a financing transaction, providing essential details such as the cooperative corporation's name, address, and identification number. It also includes information about the debtor and secured party involved in the transaction. This addendum may also outline any unique provisions or requirements specific to cooperative interests within the state of New York. It helps protect both lenders and borrowers by ensuring the clarity and accuracy of the financing arrangement and alerting interested parties to any legal requirements or potential complications related to cooperative interests. Different types of Rochester New York UCC1 Financing Statement Cooperative Addendum may exist based on factors such as the specific cooperative corporation involved or any unique regulations imposed by local authorities. It is essential to thoroughly review the addendum requirements and consult legal professionals familiar with New York cooperative law to ensure compliance with all relevant regulations and provisions.
