Oregon UCC filing refers to the process of submitting a Uniform Commercial Code (UCC) filing with the Secretary of State's office in the state of Oregon. The UCC filing is crucial for businesses and individuals involved in secured transactions, providing legal protection and establishing priority in case of disputes or defaults. Here are the different types of Oregon UCC filings with the Secretary of State: 1. Financing Statement: This is the most common type of UCC filing in Oregon. It is used to establish a security interest in collateral, typically assets like equipment, inventory, or accounts receivable, to secure a loan or a debt. 2. Amendment: An amendment filing is necessary when there is a need to modify or update an existing UCC filing. It could involve changing the debtor's name or address, adding or removing collateral, or extending the duration of the filing. 3. Termination Statement: When a UCC filing is no longer valid or relevant, a termination statement is filed to remove the security interest from public records. This filing is essential to ensure that the collateral is no longer encumbered and that the debtor has fulfilled their obligations. 4. Information Request: This filing type allows individuals or businesses to request information on any UCC filings related to a specific debtor or collateral. It helps interested parties gain insight into existing security interests before entering into new transactions. 5. Continuation Statement: A continuation filing is necessary to extend the duration of a UCC filing before it expires. By filing a continuation, a creditor ensures that their security interest remains in effect beyond the initial five-year period. 6. Assignment: An assignment filing occurs when a secured party transfers its rights or interest in a UCC filing to another party. This type of filing ensures the smooth transfer of obligations and rights between creditors in cases of loan transfers or mergers. It is important to note that UCC filings are public records in Oregon, accessible to interested parties for review and due diligence. These filings play a vital role in providing transparency and establishing legal rights in commercial transactions. When engaging in Oregon UCC filings with the Secretary of State, it is recommended to consult an attorney or understand the filing requirements outlined by the State's official website. Properly completing and submitting the relevant UCC forms with accurate and up-to-date information is crucial to ensure the effectiveness and validity of the filing.
Oregon Ucc Filing With Secretary Of State
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How to fill out Oregon Ucc Filing With Secretary Of State?
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