Financing Statement form for use when collateral includes a Cooperative Interest. Filed with the New York filing office.
The Suffolk New York UCC1 Financing Statement Cooperative Addendum is a legal document used in the state of New York to supplement the UCC1 Financing Statement for cooperative entities. This addendum ensures that any potential lenders or creditors have proper notice of the cooperative entity's security interest in its cooperative property. The UCC1 Financing Statement is a standard form used to provide public notice of a creditor's security interest in the personal property of a debtor. However, for cooperative entities, which are unique legal structures, a specific addendum is required to provide sufficient information about the cooperative property and the security interest. There are different types of Suffolk New York UCC1 Financing Statement Cooperative Addendum, depending on the specifics of the cooperative entity and the nature of the security interest. Some common types of cooperative addendums include: 1. Cooperative Housing Corporation Addendum: This addendum is used for cooperatives that function as housing corporations, such as residential apartment complexes or housing communities. 2. Agricultural Cooperative Addendum: This addendum is applicable to cooperatives involved in agricultural activities, such as cooperative farms, grain elevators, or agricultural production cooperatives. 3. Retail Cooperative Addendum: This addendum is designed for retail cooperatives, which are formed by independent retailers or businesses to combine purchasing power or to collectively own and operate a retail establishment. 4. Worker Cooperative Addendum: Worker cooperatives, where the employees are also the owners, require a specific addendum to properly disclose the details of the cooperative property and security interest. 5. Producer Cooperative Addendum: Producer cooperatives, composed of individuals or businesses engaged in the production or manufacturing of goods, require this addendum to adequately describe the cooperative property and security interest. It is essential to accurately identify and utilize the appropriate addendum that aligns with the specific type of cooperative entity and its unique characteristics. By having a properly completed Suffolk New York UCC1 Financing Statement Cooperative Addendum, a cooperative entity can effectively provide public notice of its security interest in its cooperative property, thus protecting its rights in case of default or bankruptcy.The Suffolk New York UCC1 Financing Statement Cooperative Addendum is a legal document used in the state of New York to supplement the UCC1 Financing Statement for cooperative entities. This addendum ensures that any potential lenders or creditors have proper notice of the cooperative entity's security interest in its cooperative property. The UCC1 Financing Statement is a standard form used to provide public notice of a creditor's security interest in the personal property of a debtor. However, for cooperative entities, which are unique legal structures, a specific addendum is required to provide sufficient information about the cooperative property and the security interest. There are different types of Suffolk New York UCC1 Financing Statement Cooperative Addendum, depending on the specifics of the cooperative entity and the nature of the security interest. Some common types of cooperative addendums include: 1. Cooperative Housing Corporation Addendum: This addendum is used for cooperatives that function as housing corporations, such as residential apartment complexes or housing communities. 2. Agricultural Cooperative Addendum: This addendum is applicable to cooperatives involved in agricultural activities, such as cooperative farms, grain elevators, or agricultural production cooperatives. 3. Retail Cooperative Addendum: This addendum is designed for retail cooperatives, which are formed by independent retailers or businesses to combine purchasing power or to collectively own and operate a retail establishment. 4. Worker Cooperative Addendum: Worker cooperatives, where the employees are also the owners, require a specific addendum to properly disclose the details of the cooperative property and security interest. 5. Producer Cooperative Addendum: Producer cooperatives, composed of individuals or businesses engaged in the production or manufacturing of goods, require this addendum to adequately describe the cooperative property and security interest. It is essential to accurately identify and utilize the appropriate addendum that aligns with the specific type of cooperative entity and its unique characteristics. By having a properly completed Suffolk New York UCC1 Financing Statement Cooperative Addendum, a cooperative entity can effectively provide public notice of its security interest in its cooperative property, thus protecting its rights in case of default or bankruptcy.
