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Form UCC3 is used to amend (make changes to) a UCC1 filing. The required information is: An acknowledgement name and address. (Recommended for return copy of the filing.)
Why did I receive a UCC statement?
The most common UCC form is the UCC-1 or Financing Statement. These forms are routine in the case of secured loan, where the lender uses the UCC-1 to place a lien on a particular piece of collateral or all assets belonging to a business or person.
What does an UCC financing statement do?
If the IRS wants to file a statewide tax lien against a taxpayers personal property, the document evidencing the lien will be filed with the secretary of states office. Most states (if not all) index the IRS liens along with the UCC-1 financing statement liens.
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 is the UCC-3 amendment statement?
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.
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.
How do I remove a UCC financing statement?
The debtor must contact the secured party to request that a UCC-3 amendment be filed to terminate the original financing statement. This must be an authenticated demand letter sent to the secured party of record under its name and address indicated on the UCC-1 financing statement.
ucc3 form california
GSE SYSTEMS INC
Apr 3, 2001 Section 6.12.5 of the LOAN AGREEMENT captioned Quarterly Financial Statements is hereby amended and restated in its entirety as follows:.
This FINANCING STATEMENT AMENDMENT is to be filed [for record] (or recorded) in the. REAL ESTATE RECORDS. THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY. CHANGE
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.
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