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Utah UCC3 Financing Statement Amendment Addendum - Utah

Utah UCC3 Financing Statement Amendment Addendum - Utah 2025

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The document is a UCC Financing Statement Amendment Addendum, which provides instructions for amending a financing statement. It includes sections for entering the initial financing statement file number, the name of the party authorizing the amendment, and additional information if needed. The form is intended for use by filing offices.

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Is a UCC filing good or bad?

UCC filings are common among lenders, especially when providing small business loans. The good news is that having a UCC lien is unlikely to affect your business unless you cant make your payments or try to get additional financing using the same assets as collateral or if you default on the loan.

Can you amend a financing statement?

A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment. (e) [Certain amendments ineffective.] (2) purports to delete all secured parties of record and fails to provide the name of a new secured party of record.

What is the effect of UCC financing statement?

A UCC financing statement also called a UCC-1 financing statement or a UCC-1 filing is a legal form that allows a lender to announce a lien on an asset to secure a loan. By filing the UCC financing statement, the lender is giving notice that it has an interest in the property listed in the filing.

Why did I receive an UCC financing statement?

The most basic and well known is the UCC-1. Essentially, a UCC-1 can be described as a financing statement. In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtors personal property.

What does UCC financing statement amendment mean?

UCC-3 party amendments: A UCC-3 amendment is a type of filing used to change or add critical information about the debtor or the secured party. For example, they can be used to change the name or the address.