Maricopa Arizona UCC3 Financing Statement Amendment is a legal document used in Maricopa County, Arizona, to modify or update an existing UCC3 Financing Statement. The UCC3 Financing Statement is a financial document filed by a secured party, typically a lender, to establish a security interest in collateral provided by a debtor. The Maricopa Arizona UCC3 Financing Statement Amendment is essential for secured parties who wish to make changes to the original financing statement. This amendment serves as a legal notice to potential creditors and other interested parties about any modifications made to the original filing. There are several types of Maricopa Arizona UCC3 Financing Statement Amendments, each designed to accommodate different changes or updates related to the financing statement. Some common types include: 1. Change of Secured Party Information: This amendment is utilized when there is a change in the secured party's contact information, such as a change of address, name, or other identifiable information. It ensures that all interested parties can reach the correct secured party for any necessary communication. 2. Addition or Removal of Collateral: If the secured party wants to add or remove collateral from the original UCC3 Financing Statement, they can file an amendment specifying the changes. This allows them to protect their interest in newly added collateral or modify their existing security interest. 3. Amendment of Debtor Information: In the event of a change in the debtor's name, location, or other relevant details, this type of amendment ensures that the UCC3 Financing Statement remains accurate and up-to-date. It also safeguards the secured party's rights by updating the debtor's information. 4. Termination or Continuation: The secured party can file an amendment to terminate their interest in the collateral or to extend the validity of the original financing statement. This amendment is crucial to avoid any confusion among interested parties regarding the status of the security interest. It is important for both secured parties and debtors to understand the different types of Maricopa Arizona UCC3 Financing Statement Amendments and their implications. Filing the correct amendment ensures compliance with legal obligations while protecting the rights and interests of all parties involved.
Maricopa Arizona UCC3 Financing Statement Amendment
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UCC stands for Uniform Commercial Code. The Uniform Commercial Code is a uniform law that governs commercial transactions, including sales of goods, secured transactions and negotiable instruments. The Uniform Commercial Code is a comprehensive set of statutes created to provide consistency among the states.
Ask the lender to terminate the lien upon payoff. When you pay off a loan, a good rule of thumb is to immediately submit a request with the lender to file a UCC-3 form with your secretary of state. The UCC-3 will terminate the lien on your company's asset (or assets) and remove the UCC-1 filing.
If you need to remove a UCC filing form your credit report, ask the lender to file for its removal. In order to do this, they need to file a UCC-3 Financing Statement Amendment. You can also just wait it out. Depending on how long you have been with the lender, the filing may be removed within a few months.
To assist the Bureau, filers may wish to delete this information prior to filing. You may contact the Uniform Commercial Code section by calling (717) 787-1057 option 2, or by mail at: Uniform Commercial Code, PO Box 8721, Harrisburg, PA 17105.
UCC - Frequently Asked Questions - UCC-1 and UCC-3. Most filings last for five (5) years from the date of filing. Filings for a debtor that is a transmitting utility have no expiration date.
UCC. 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.
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.
To amend your collateral description, click the button labeled View/Amend Collateral. After clicking this button, a pop-up will appear and will display the current collateral description and provide options to Add Collateral, Delete Collateral or Change Collateral.
UCC. 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.
Whether you are amending a filing or terminating a filing, if you are redirected to the UCC Services Request form, complete all tabs of the service request you can do this by making the changes and then clicking Next on the bottom right of the screen.