This is the "National UCC Finanacing Statement," and it is an American Lawyer Media form. It contains an acknowledgement copy, a debtor copy, a search request copy, and the secured party's copy.
Franklin Ohio UCC Financing Statement is a legal document filed by a creditor to secure their interest in assets owned by a debtor. It provides notice to other parties of the creditor's claim on the collateral, ensuring that the creditor will be paid back. UCC stands for Uniform Commercial Code, which is a standardized set of rules governing commercial transactions in the United States. The Franklin Ohio UCC Financing Statement includes key information such as the names and addresses of the debtor and the secured party, a description of the collateral being pledged, and any specific terms or conditions surrounding the secured debt. This statement is typically filed with the Ohio Secretary of State's office or a local county recorder's office, depending on the jurisdiction. There are different types of Franklin Ohio UCC Financing Statements based on the specific circumstances of the financing arrangement. Some examples include: 1. Initial Financing Statement: This type of statement is filed when a creditor first establishes a secured interest in the debtor's collateral. It provides the necessary information about the parties involved and the collateral being secured. 2. Amendment Financing Statement: An amendment statement is filed when there are changes or modifications to an existing financing statement. This could include adding additional collateral, updating debtor or secured party information, or extending the maturity date of the debt. 3. Termination Statement: A termination statement is filed when the debt has been fully paid off or when the creditor no longer has a valid claim on the collateral. It serves as a formal notice that the security interest has been released. 4. Continuation Statement: A continuation statement is filed to extend the validity of a financing statement beyond its original expiration date. It is generally required to be filed within a specific time frame before the expiration date to maintain the creditor's priority over other potential claimants. In conclusion, the Franklin Ohio UCC Financing Statement is a crucial legal document in securing a creditor's interest in a debtor's collateral. By filing the appropriate type of statement, creditors can protect their financial interests and ensure compliance with the Uniform Commercial Code.Franklin Ohio UCC Financing Statement is a legal document filed by a creditor to secure their interest in assets owned by a debtor. It provides notice to other parties of the creditor's claim on the collateral, ensuring that the creditor will be paid back. UCC stands for Uniform Commercial Code, which is a standardized set of rules governing commercial transactions in the United States. The Franklin Ohio UCC Financing Statement includes key information such as the names and addresses of the debtor and the secured party, a description of the collateral being pledged, and any specific terms or conditions surrounding the secured debt. This statement is typically filed with the Ohio Secretary of State's office or a local county recorder's office, depending on the jurisdiction. There are different types of Franklin Ohio UCC Financing Statements based on the specific circumstances of the financing arrangement. Some examples include: 1. Initial Financing Statement: This type of statement is filed when a creditor first establishes a secured interest in the debtor's collateral. It provides the necessary information about the parties involved and the collateral being secured. 2. Amendment Financing Statement: An amendment statement is filed when there are changes or modifications to an existing financing statement. This could include adding additional collateral, updating debtor or secured party information, or extending the maturity date of the debt. 3. Termination Statement: A termination statement is filed when the debt has been fully paid off or when the creditor no longer has a valid claim on the collateral. It serves as a formal notice that the security interest has been released. 4. Continuation Statement: A continuation statement is filed to extend the validity of a financing statement beyond its original expiration date. It is generally required to be filed within a specific time frame before the expiration date to maintain the creditor's priority over other potential claimants. In conclusion, the Franklin Ohio UCC Financing Statement is a crucial legal document in securing a creditor's interest in a debtor's collateral. By filing the appropriate type of statement, creditors can protect their financial interests and ensure compliance with the Uniform Commercial Code.