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?UCC? stands for Uniform Commercial Code. The Uniform Commercial Code is a uniform law that governs commercial transactions, including sales of goods, secured transactions and negotiable instruments. The Uniform Commercial Code is a comprehensive set of statutes created to provide consistency among the states.
For example, they can be used to change the name or the address. UCC-3 collateral amendments: This type of filing is used to add collateral, remove collateral, or restate the entire collateral description.
Secretary of State - UCC Contact Information: Phone: (402) 471-4080. Fax: (402) 471-4429. Mailing Address: P.O. Box 95104, Lincoln, NE 68509. Overnight Mailing Address: 1201 N Street, Suite 120, Lincoln, NE 68508. Send E-Mail to: UCC.
"Amendment" means a UCC record that amends the information contained in a financing statement. Amendments include assignments, continuations and terminations.
Ask the lender to terminate the lien upon payoff. A good rule of thumb is to request that your lender file a UCC-3 form with your secretary of state as soon as possible after you pay off your loan. The UCC-3 will terminate the lien on your company's assets (or assets) and remove the UCC-1 filing.
The only way to amend the debtor's name is to file a UCC3 debtor name amendment. A UCC3 continuation extends the life of the UCC another 5 years unless the UCC was filed in Wyoming, which has a 10-year statutory period. To correct or change a debtor name, a UCC3 debtor name change amendment should be filed.