A termination statement in Arizona is a legal document that officially terminates or releases a lien, security interest, or financing statement that has been previously filed with the Arizona Secretary of State. This document serves as proof that a particular lien or security interest has been extinguished, and the party who filed the lien no longer has a claim on the associated property or collateral. Two common types of termination statements in Arizona are: 1. UCC-3 Termination Statement: Under the Uniform Commercial Code (UCC), a UCC-3 Termination Statement is used to terminate a financing statement that was previously filed with the Arizona Secretary of State's office. This form must be completed and submitted to officially release the security interest or lien on the specified collateral. The UCC-3 Termination Statement requires specific details such as the debtor's name, the secured party's name, and the original filing information. 2. Lien Termination Statement: This type of termination statement is often used to release a mechanic's lien or construction lien that was previously placed on a property. A lien termination statement needs to be filed with the county recorder's office in the specific county where the lien was originally recorded. It typically includes information such as the property owner's name, the lien holder's name, and the original recording details. It is important to note that the specific requirements and processes for termination statements can vary depending on the type of lien or security interest being released. Additionally, it is crucial to follow the correct procedures and deadlines when filing a termination statement to ensure the legal termination and release of any previous liens or security interests in Arizona.
Arizona Termination Statement
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How to fill out Arizona Termination Statement?
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To dissolve your LLC in Arizona, you submit the completed Form LL: 0020 Articles of Termination to the Arizona Corporation Commission (ACC) by mail, fax, or in person. Arizona has a cover sheet that should be included with filings. The Articles of Termination and coversheet are available online (see link below).
In general, the process of dissolving an LLC in Arizona involves several steps, including holding a meeting with all members to discuss and vote on dissolution, winding up the affairs of the LLC, filing Articles of Dissolution with the Arizona Corporation Commission, canceling all permits, licenses, and registrations, ...
To reinstate your Arizona LLC, there's no reinstatement application to fill out. Instead, you'll need to correct the problem that led to administrative dissolution, file the proper paperwork, and pay the $100 reinstatement fee.
Unless formally terminated or unless the Articles of Organization contain a termination date, an Arizona limited liability company will exist ?forever.? Unlike an Arizona corporation, an Arizona LLC does not have to file an annual report with the Arizona Corporation Commission or pay the ACC an annual fee.
Dissolving a California LLC is a two step process. First, you'll need to file a Certificate of Dissolution (Form LLC-3). Then, you'll need to file a Certificate of Cancellation (Form LLC-4/7). In the event all the members of your company vote to dissolve, then you only need to file a Certificate of Cancellation.
To dissolve your LLC in Arizona, you submit the completed Form LL: 0020 Articles of Termination to the Arizona Corporation Commission (ACC) by mail, fax, or in person. Arizona has a cover sheet that should be included with filings. The Articles of Termination and coversheet are available online (see link below).
How do you dissolve an Arizona Corporation? To dissolve your Corporation in Arizona, you submit the completed Form CF: 0030 Articles of Dissolution and one exact copy to the Arizona Corporation Commission (ACC) by mail, fax, or in person. The Articles of Dissolution are available online (see link below).
Articles of Termination terminate the existence of an Arizona LLC that is dissolved (the LLC is going out of business). Articles of Termination shall be filed ?if all of the known property and assets of a limited liability company have been applied and distributed?.? See A.R.S. § 29-3702.
