The Lima Arizona UCC3 Financing Statement Amendment is a legal document used to revise or update information on an existing financing statement registration in relation to Uniform Commercial Code (UCC) guidelines. This amendment is crucial for maintaining accuracy and ensuring that all relevant parties are aware of any changes to the original filing. In Lima, Arizona, there are several types of UCC3 Financing Statement Amendments, each serving a specific purpose: 1. Amendment to Add Secured Party: This type of amendment is filed when there is a need to add a new secured party to the existing financing statement. It ensures that the new secured party's interests and rights are officially acknowledged and protected. 2. Amendment to Terminate Secured Party: If a secured party is no longer associated with the transaction or has been paid in full, an amendment to terminate the secured party is filed. This amendment removes the secured party's name from the financing statement, indicating that they no longer hold a security interest. 3. Amendment to Add Debtor: When an additional debtor is involved in the transaction or a previously unmentioned debtor needs to be included, an amendment is filed to add the debtor's information to the financing statement. 4. Amendment to Terminate Debtor: In certain cases, a debtor might no longer be liable for the debt or no longer holds an interest in the property covered by the financing statement. An amendment to terminate the debtor is submitted to remove their name from the filing. 5. Amendment to Change Collateral Description: If there is a need to modify or provide more accurate details about the collateral covered by the financing statement, an amendment to change the collateral description is filed. This ensures the accuracy and clarity of information regarding the secured assets. 6. Amendment to Continue Perfection: Financing statements are usually effective for a limited period. Therefore, an amendment to continue perfection is filed to extend the effectiveness of the original financing statement. This ensures that the secured party's interest remains legally protected. It is important to note that these types of amendments may vary in terms of requirements and specific information needed, so it's essential to consult the appropriate legal resources or professionals to ensure compliance with the Lima, Arizona UCC requirements. Keywords: Lima, Arizona, UCC3 Financing Statement, Amendment, legal document, revise, update, existing, financing statement registration, Uniform Commercial Code, accuracy, add secured party, terminate secured party, add debtor, terminate debtor, change collateral description, continue perfection, legal resources, professionals, compliance.
Pima Arizona UCC3 Financing Statement Amendment
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How to fill out Pima Arizona UCC3 Financing Statement Amendment?
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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.
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. Next till you can't next no more! and then click Submit.
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.
What is UCC3 Termination? UCC-3 Filing step-by-step - YouTube YouTube Start of suggested clip End of suggested clip You should also include a copy of the original UCC. Filing. So the lender can reference it quickly IMoreYou should also include a copy of the original UCC. Filing. So the lender can reference it quickly I like to do steps number one and two simultaneously.
3 termination statement (a Termination) is a required filing that terminates a security interest that has been perfected by a UCC1 filing. A Termination for personal property is accomplished by completing and filing form UCC3 with the Secretary of State's office in the appropriate state.
If the debtor (or another creditor) filed the Termination without proper authority and then the secured party of record filed a Continuation, the Continuation would extend the term of effectiveness for the Financing Statement since the Termination was not valid.
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 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.
Also known as a continuation statement. The amendment used to extend the effectiveness of a UCC-1 beyond the date which is five years after the date of its filing.
To assign (1) some or all of Assignor's right to amend the identified financing statement, or (2) the Assignor's right to amend the identified financing statement with respect to some (but not all) of the collateral covered by the identified financing statement: Check box in item 3 and enter name of Assignee in item 7a