Oklahoma City, Oklahoma UCC1 Financing Statement Addendum is a legal document that serves as an extension or attachment to an existing UCC1 Financing Statement. This addendum provides additional information or modifies the original filing to ensure accurate and up-to-date financial information about a secured party and collateral. Keywords: — Oklahoma City: Refers to the specific location where the UCC1 Financing Statement Addendum is prepared. It emphasizes the relevance of the information to this geographical area. — UCC1 Financing Statement: The UCC1 Financing Statement is a legal document used to secure an interest in personal property as collateral for a loan, lease, or sale agreement. The addendum modifies or supplements this initial filing. — Addendum: An addendum is an additional document that serves to extend or modify an existing contract or filing. In this case, the addendum provides supplementary information to the original UCC1 Financing Statement. Types of Oklahoma City, Oklahoma UCC1 Financing Statement Addendum: 1. Amendment: An amendment addendum is used to modify or update one or multiple aspects of the original UCC1 Financing Statement. The secured party may need to correct an error, add additional collateral details, or change their personal information. 2. Continuation: A continuation addendum is filed when the original UCC1 Financing Statement is nearing its expiration date. By extending the validity period, the secured party ensures their priority over competing parties regarding the collateral. 3. Termination: If the secured party no longer has an interest in the collateral, they can file a termination addendum. This addendum removes the collateral from the public records, signaling the end of the security interest. In summary, the Oklahoma City, Oklahoma UCC1 Financing Statement Addendum is a legal document used to modify, extend, or terminate an existing UCC1 Financing Statement. Various types of addendums, such as amendments, continuations, and terminations, cater to different scenarios and ensure accurate and up-to-date financial information.
Oklahoma City Oklahoma UCC1 Financing Statement Addendum
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How to fill out Oklahoma City Oklahoma UCC1 Financing Statement Addendum?
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In all cases, you should file a UCC-1 with the secretary of state's office in the state where the debtor is incorporated or organized (if a business), or lives (if an individual).
To do so you will generally need to make a trip in person down to your secretary of state's office. Once there, you will be able to swear under oath that you've satisfied the debt in full and wish to request for the UCC-1 filing to be removed.
A UCC3 is a change statement to a UCC1. It's an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It's a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.
The UCC clearly permits a creditor to use successive, timely filed, continuation statements to maintain perfection for an unlimited period of time?all the creditor has to do is keep filing a continuation every five years.
Although the UCC-1 Financing Statement does not require signatures, any attachment such as the legal description or special terms and conditions may require the signature of the Debtor.
How do I get rid of a UCC filing? You can remove a UCC filing when you've repaid your business loan in full. Once you repay the debt, the lender should remove the lien from your business assets. If not, you may request that the lender files a UCC-3 to terminate the lien.
How to complete a UCC1 (Step by Step) Filer Information. Name and phone number of contact at filer. Email contact at filer.Debtor Information. Organization or individual's name. Mailing address. Secured Party Information. Organization or individual's name. Mailing address. Collateral Information. Description of collateral.
The proper place to file a financing statement in order to perfect a security interest is the UCC Central Filing Office, located in the Offices of the Oklahoma County Clerk. Transmitting Utilities and EFS Forms are filed at the Secretary of State.
Form UCC3 is used to amend (make changes to) a UCC1 filing. The required information is: An acknowledgement name and address. (Recommended for return copy of the filing.)