The Harris Texas UCC1 National Financial Statement is an official document used for filing a Uniform Commercial Code (UCC) financing statement in Texas, United States. This statement is utilized to create a public record of a security interest in personal property, serving as a crucial component of commercial transactions and lending activities. The purpose of the Harris Texas UCC1 National Financial Statement is to provide information about the debtor, secured party, and the collateral involved in a secured transaction. It helps establish the priority of lenders' interests in case of default or bankruptcy, allowing potential creditors to evaluate the risk associated with lending money or extending credit. This financial statement typically consists of several sections, each capturing essential details related to the transaction. Some keywords relevant to describe different sections of the Harris Texas UCC1 National Financial Statement are: 1. Debtor Information: This section discloses the legal name and address of the debtor (borrower) involved in the transaction. It may also include additional identifiers, such as Social Security number or employer identification number. 2. Secured Party Information: Here, the details of the secured party (lender) are provided, including their name, address, and contact information. This helps establish their role in the transaction and potential claims in case of default. 3. Collateral Description: This section outlines the nature and specific details of the collateral pledged as security. It may include a detailed description of the property, including serial numbers, manufacturer details, or any identifiable markings. 4. Financing Statement: The financing statement is a crucial part of the Harris Texas UCC1 National Financial Statement. It usually contains a summary of the debtor and secured party information, along with a description of the collateral. This statement is filed with the appropriate state agency to create a public record of the security interest. It is important to note that the Harris Texas UCC1 National Financial Statement may have variations or additional requirements based on the specific regulations and guidelines of the state. Different states may have their own versions of the UCC1 form, and therefore, it is necessary to adhere to the specific guidelines as per the jurisdiction.
Harris Texas UCC1 National Financial Statement
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How to fill out Harris Texas UCC1 National Financial Statement?
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