A Kentucky UCC Financing Statement Amendment Additional Party is a document used to add a party to a UCC financing statement. This document is used to amend a UCC financing statement to include a debtor, secured party, or other party. It must be filed with the Kentucky Secretary of State and contain the following information: the original financing statement number, the name and address of the additional party, the name and address of any secured party, and the name and address of the debtor. There are two types of Kentucky UCC Financing Statement Amendment Additional Party: Amendment to Add Debtor and Amendment to Add Secured Party.
Kentucky UCC Financing Statement Amendment Additional Party
State:
Kentucky
Control #:
KY-SKU-0925
Format:
PDF
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Description
UCC Financing Statement Amendment Additional Party
How to fill out Kentucky UCC Financing Statement Amendment Additional Party?
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FAQ
Original Financing Statement (UCC1) Subsection (a) (2) provides that the office in which to file a financing statement to perfect a security interest is the office of the Secretary of State in all other cases.
UCC-3 party amendments: A UCC-3 amendment is a type of filing used to change or add critical information about the debtor or the secured party. For example, they can be used to change the name or the address.
What is a UCC Cooperative Addendum/UCC Addendum form: A filed UCC Cooperative Addendum form contains the names of the debtor, the secured party or its representatives, and the cooperative. It also holds information such as the property's address and the file number of the Initial UCC-1.
To put it in simple terms, the secured party is the creditor on the UCC loan. The creditor is the secured party because they have a financial interest in the collateral which the lien is on.
Form UCC3 is used to amend (make changes to) a UCC1 filing. The required information is: An acknowledgement name and address. (Recommended for return copy of the filing.)
How to complete a UCC1 (Step by Step) Filer Information. Name and phone number of contact at filer. Email contact at filer.Debtor Information. Organization or individual's name. Mailing address. Secured Party Information. Organization or individual's name. Mailing address. Collateral Information. Description of collateral.
Secured party is a lender, seller, or other person in whose favor a security interest exists. Debtor is the person who owes payment or performance of the obligation that is secured. Security agreement is the agreement between the secured party and the debtor that creates or provides for a security interest.
A secured creditor may be the holder of a real estate mortgage, a bank with a lien on all assets, a receivables lender, an equipment lender, or the holder of a statutory lien, among other types of entities.
