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19 b. INDIVIDUAL'S LAST NAME MIDDLE NAME, SUFFIX 20. MISCELLANEOUS: - THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 21. ADDITIONAL DEBTOR'S EXACT FULL LEGAL NAME - insert only one name (21a or 21b) - do not abbreviate or combine names 21 a. ORGANIZATION'S NAME OR 21 b. INDIVIDUAL'S LAST NAME 21 c. MAILING ADDRESS 21 d. SEE INSTRUCTIONS ADD'L INFO RE 21 e. TYPE OF ORGANIZATION ORGANIZATION DEBTOR I FIRST NAME MIDDLE NAME SUFFIX CITY STATE COUNTRY 21 f. JURISDICTION OF ORGANIZATIO.

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The Uniform Commercial Code Section operates under Chapter 25, Article 9 of the North Carolina General Statutes to provide a method of giving notice of a security interest in personal property to interested third parties. The method adopted is a "notice" filing system.

UCC1 and UCC2 are used to show that there is a lien on property. "Property" refers not only to land, but also to vehicles or any type of equipment or personal property, such as furniture, tractors, etc, that has been financed.

(a) Five-year effectiveness. – Except as otherwise provided in subsections (b), (e), (f), and (g) of this section, a filed financing statement is effective for a period of five years after the date of filing.

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 debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.

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 debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.

Filing a UCC-1 allows creditors to collateralize their loans by utilizing the personal property assets of their customers. In the event of a default, a UCC-1 elevates the lender's status to a secured creditor, ensuring that it will be paid.

Entities that have an interest in a Section 202 and/or Section 811 property must file a UCC as part of the closing process and every five years thereafter. You may also have your Title Company file the UCC.

UCC liens filed against your assets within the last five years will appear on your business credit report, which could affect your ability to borrow money from other lenders. The lender who files the claim, for example, will get first dibs on your assets.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232