Broken Arrow Oklahoma UCC3 Financing Statement Amendment

• Category: Oklahoma Contracts - Uniform Commercial Code
• State: Oklahoma
• City: Broken Arrow
• Control #: OK-UCC3
• Format: PDF

Description

UCC3 - Financing Statement Amendment - Oklahoma -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. Broken Arrow Oklahoma UCC3 Financing Statement Amendment is a legal document that allows individuals or businesses to make changes to their existing UCC3 Financing Statement in Broken Arrow, Oklahoma. The UCC3 Financing Statement is a standard form used to secure a lender's interest in personal property assets as collateral for a loan or credit transaction. The UCC3 Financing Statement Amendment can be used to update or correct information on the original statement, such as changes in debtor's address, amendments to the secured party's information, or changes in collateral description. This amendment ensures that all parties involved are aware of the revised details and protects the rights of both the lender and the debtor. In Broken Arrow, Oklahoma, there are different types of UCC3 Financing Statement Amendments available, including: 1. UCC3 Financing Statement Termination Amendment: This amendment is filed when the secured debt has been fully repaid, and the lender's security interest is terminated. It removes the financing statement from public record and releases the debtor's assets from the lien. 2. UCC3 Financing Statement Continuation Amendment: This amendment is filed to extend the validity of the original financing statement, which typically expires after a specified period (usually five years). Filing a continuation amendment allows the lender to maintain their security interest in the collateral beyond the original expiration date. 3. UCC3 Financing Statement Amendment to Add Collateral: This amendment is filed when the debtor wants to add additional collateral to the existing financing statement. It expands the scope of the lender's security interest to cover the newly added assets. 4. UCC3 Financing Statement Amendment to Remove Collateral: This amendment is submitted when the debtor wishes to remove specific collateral from the original financing statement. It restricts the lender's security interest to only the remaining assets listed on the statement. To file a Broken Arrow Oklahoma UCC3 Financing Statement Amendment, the applicant must gather the necessary information, such as the original financing statement number, debtor's information, secured party details, and the specific changes or additions required. The amendment should be prepared accurately and submitted to the appropriate filing office along with the required fees. In conclusion, Broken Arrow Oklahoma UCC3 Financing Statement Amendment is a crucial legal document that facilitates the modification, termination, continuation, or expansion of a UCC3 Financing Statement in the region. It ensures that all parties involved are informed about any changes or updates to the original statement while safeguarding the interests of both the lender and the debtor.

Broken Arrow Oklahoma UCC3 Financing Statement Amendment is a legal document that allows individuals or businesses to make changes to their existing UCC3 Financing Statement in Broken Arrow, Oklahoma. The UCC3 Financing Statement is a standard form used to secure a lender's interest in personal property assets as collateral for a loan or credit transaction. The UCC3 Financing Statement Amendment can be used to update or correct information on the original statement, such as changes in debtor's address, amendments to the secured party's information, or changes in collateral description. This amendment ensures that all parties involved are aware of the revised details and protects the rights of both the lender and the debtor. In Broken Arrow, Oklahoma, there are different types of UCC3 Financing Statement Amendments available, including: 1. UCC3 Financing Statement Termination Amendment: This amendment is filed when the secured debt has been fully repaid, and the lender's security interest is terminated. It removes the financing statement from public record and releases the debtor's assets from the lien. 2. UCC3 Financing Statement Continuation Amendment: This amendment is filed to extend the validity of the original financing statement, which typically expires after a specified period (usually five years). Filing a continuation amendment allows the lender to maintain their security interest in the collateral beyond the original expiration date. 3. UCC3 Financing Statement Amendment to Add Collateral: This amendment is filed when the debtor wants to add additional collateral to the existing financing statement. It expands the scope of the lender's security interest to cover the newly added assets. 4. UCC3 Financing Statement Amendment to Remove Collateral: This amendment is submitted when the debtor wishes to remove specific collateral from the original financing statement. It restricts the lender's security interest to only the remaining assets listed on the statement. To file a Broken Arrow Oklahoma UCC3 Financing Statement Amendment, the applicant must gather the necessary information, such as the original financing statement number, debtor's information, secured party details, and the specific changes or additions required. The amendment should be prepared accurately and submitted to the appropriate filing office along with the required fees. In conclusion, Broken Arrow Oklahoma UCC3 Financing Statement Amendment is a crucial legal document that facilitates the modification, termination, continuation, or expansion of a UCC3 Financing Statement in the region. It ensures that all parties involved are informed about any changes or updates to the original statement while safeguarding the interests of both the lender and the debtor.