Financing Statement Amendment Additional Party form for adding additional Debtors or Secured Parties to Financing Statement Amendment (Form UCC3) filed with the New York filing office.
In Nassau, New York, a UCC3 Financing Statement Amendment Additional Party refers to a specific legal process that allows for changes or updates to be made to an existing financing statement filed under the Uniform Commercial Code (UCC). This amendment involves the addition of another party to the original financing agreement by submitting a supplementary form. The UCC3 Financing Statement Amendment Additional Party serves as a crucial instrument to ensure the accuracy and completeness of public records concerning secured transactions. It enables parties involved in a financial agreement to reflect any changes in the collateral, debtor, or secured party information. Different types of UCC3 Financing Statement Amendment Additional Party in Nassau, New York, can include: 1. Debtor Addition: This type of amendment occurs when a new debtor is added to the original financing statement. It typically arises when the collateral under the security agreement is sold or transferred, leading to a change in debtors. 2. Secured Party Addition: When there is a change in the secured party, either due to an assignment, merger, or other circumstances, this amendment is required to reflect the alteration accurately. 3. Collateral Addition: In cases where additional collateral needs to be included in the original financing statement, an amendment is necessary. This type of change can happen when the parties agree to modify or expand the existing security agreement. The UCC3 Financing Statement Amendment Additional Party process involves completing the appropriate form provided by the Nassau, New York government or a designated agency responsible for maintaining public records. The form requires details regarding the original financing statement, including the file number, secured party information, and debtor information. Additionally, the relevant change is clearly stated, such as the information of the new debtor, secured party, or collateral being added. Once the UCC3 Financing Statement Amendment Additional Party form is completed accurately, it must be submitted to the appropriate filing office in Nassau, New York, along with the required filing fees. The filing office reviews the amendment to check for compliance with UCC guidelines and ensures all necessary information and fees are included. Once accepted and processed, the amendment is recorded, and the updated public record is filed. In summary, filing a UCC3 Financing Statement Amendment Additional Party in Nassau, New York, is a crucial step to accurately reflect changes in collateral, debtor, or secured party information in an existing financing agreement. By adhering to the proper procedures and completing the necessary form, parties involved in a secured transaction can ensure transparency, legality, and accuracy in their financial records.
