This document is a schedule to the UCC-1 Financing Statement. It is an inclusive list of all property covered by the financing statement and also contains a section for the borrower's alternative provisions.
The Clark Nevada UCC Schedule refers to the Uniform Commercial Code (UCC) filings made in Clark County, Nevada. The UCC is a set of laws that governs commercial transactions and provides a standardized framework for businesses to establish and secure their rights in personal property. In Clark County, Nevada, the UCC Schedule includes various types of filings, each serving a specific purpose: 1. Financing Statements: These are the most common type of UCC filings and are used to establish a creditor's security interest in a debtor's personal property. A financing statement provides public notice of the creditor's claim and helps protect their rights in case of default or bankruptcy. 2. Amendments: Clark Nevada UCC Schedule also includes filings for amendments made to existing financing statements. Amendments may be necessary when there are changes in the debtor's name, address, or other details, or when additional collateral is added to the original filing. 3. Terminations: When a debt is fully repaid or a security interest is no longer valid, a termination filing is made to remove the financing statement from the Clark Nevada UCC Schedule. This ensures that the debtor's property is no longer encumbered and that other creditors are aware of the release. 4. Continuations: A continuation filing is made when the initial financing statement is set to expire. By filing a continuation, the creditor extends the validity of their security interest, ensuring that their rights are maintained beyond the original expiration date. 5. Assignments: In some cases, a creditor may choose to assign their interest in a financing statement to another party. Assignment filings are made to reflect this transfer of rights and provide public notice of the new creditor's claim. The Clark Nevada UCC Schedule plays a vital role in supporting commerce and protecting the rights of both creditors and debtors. By filing and maintaining accurate records, businesses can establish their interests in personal property and avoid potential disputes or loss of collateral. Note: The specific process and requirements for UCC filings may vary in different jurisdictions. It is essential to consult the appropriate legal resources or seek professional advice when undertaking UCC filings in Clark Nevada or any other location.
