Uniform Commercial Code File With Latitude

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Multi-State
Control #:
US-UCC1-AD
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Description

The Uniform Commercial Code Financing Statement Addendum (UCC1Ad) is a vital document utilized in securing interests in collateral under the Uniform Commercial Code. It allows individuals and organizations to add additional debtors or secured parties related to a financing statement, ensuring all relevant parties are properly documented. Key features include sections for entering the full legal names of debtors, descriptions of collateral, and necessary addresses to facilitate the filing process. Important instructions guide users in accurately completing the form, emphasizing the importance of following jurisdiction-specific requirements. The UCC1Ad is particularly useful for attorneys, partners, and legal assistants, as it helps streamline transactions involving secured financing. For owners and associates, the form protects their interests by ensuring all relevant information is captured and recorded. Paralegals and legal assistants will find the clear filling instructions beneficial for maintaining compliance. This form addresses scenarios such as timber transactions, fixture filings, and public finance activities, making it versatile for diverse legal needs.

How to fill out UCC1-AD Financing Statement Addendum?

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FAQ

UCC is an abbreviation for the ?Uniform Commercial Code,? which governs the transfer of Security Interests in personal property pursuant to state law.

The sale of 1,000 widgets from one company to another is a good example of a UCC application. UCC lien against collateral. A lien can be described as a right to keep a certain property belonging to another person until they pay a debt they own. UCC lien is a claim against business assets.

When a reference is to the uniform law or model code apart from its adoption and interpretation in a particular state, the citation should consist of the name of the uniform law or code (as abbreviated), section number, and the year that law or code (or major subpart) was promulgated or last amended. «e.g.» U.C.C.

Completed forms along with the applicable fees can be mailed to Secretary of State, UCC Section, P.O. Box 942835, Sacramento, CA 94235-0001 or delivered in person (drop off) to the Sacramento office, 1500 11th Street, Sacramento, CA 95814.

1 financing statement is a legal form that a creditor files to give notice that it has the right to take possession of and sell certain assets belonging to the debtor for the repayment of a specific debt.?

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Uniform Commercial Code File With Latitude