UCC1 - Financing Statement Addendum. This form permits you to add an additional debtor, if necessary, to cover collateral as specified in the statement.
Alaska UCC1 Financing Statement Addendum
State:
Alaska
Control #:
AK-UCC1-A
Format:
PDF
Instant download
This website is not affiliated with any governmental entity
Public form
Description Ucc 1 Addendum
How to fill out Alaska UCC1 Financing Statement Addendum?
Utilizing Alaska UCC1 Financing Statement Addendum templates created by expert attorneys helps you avoid issues while submitting paperwork.
Simply download the example from our site, complete it, and consult a legal expert to review it. This can save you considerably more time and expenses than if you were to request legal assistance to draft a document for you.
If you’ve previously purchased a US Legal Forms subscription, just Log In to your account and navigate back to the sample page. Look for the Download button adjacent to the template you're reviewing.
Once you have completed all the steps above, you will be able to finalize, print, and sign the Alaska UCC1 Financing Statement Addendum template. Remember to verify all entered information for accuracy before submitting or sending it out. Reduce the time spent on completing documents with US Legal Forms!
- Confirm and ensure you're downloading the correct state-specific form.
- Utilize the Preview feature and read the description (if available) to determine if you require this specific example; if so, click Buy Now.
- Search for another document using the Search option if necessary.
- Select a subscription that fits your requirements.
- Initiate with your bank card or PayPal.
- Select a file format and download your document.
Form popularity
FAQ
If you're approved for a small-business loan, a lender might file a UCC financing statement or a UCC-1 filing. This is just a legal form that allows for the lender to announce lien on a secured loan. This allows for the lender to seize, foreclose or even sell the underlying collateral if you fail to repay your loan.
The secured party has 20 days to either terminate the filing or send a termination statement to the debtor that the debtor can then file. If this does not happen within the 20-day time frame, the debtor may file a UCC-3 termination statement.
Form UCC3 is used to amend (make changes to) a UCC1 filing.However, it is important to note that for a UCC1 filing a termination is only an amendment and that the UCC1 filing may be amended further, even after a termination has been filed. Box 3 Continuation A UCC1 filing is good for five years.
It should be noted that UCC financing statements filed now generally do not contain a grant of the security interest and generally are not signed or otherwise authenticated by the Debtor and therefore would not satisfy the requirement of a security agreement.
A UCC1 financing statement is effective for a period of five years. A record that is not continued before its lapse date will cease to be effective, costing the secured party their perfected status and perhaps their priority position to collect. Once a financing statement has lapsed, it cannot be revived.
A UCC-1 financing statement (an abbreviation for Uniform Commercial Code-1) is a legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor (a person who owes a debt to the creditor as typically specified in the agreement creating the debt).
Rules vary by State around releasing a UCC lien after a borrower satisfied the debt. Primarily there are two main ways to remove them. One way is by having the lender file a UCC-3 Financing Statement Amendment. Another way to remove a UCC filing is by swearing an oath of full payment at the secretary of state office.
Also known as a UCC-3, and, depending on the context, a UCC-3 financing statement amendment, a UCC-3 termination statement, and a UCC-3 continuation statement. Under the Uniform Commercial Code, a UCC-3 is used to continue, assign, terminate, or amend an existing UCC-1 financing statement (UCC-1).