Louisiana UCC Financing Statement Amendment (Pursuant To Chapter 9 of The Commercial Laws) is a document that is used to make changes or corrections to existing financing statements. This amendment is required in the state of Louisiana when there is a change in the debtor's name, address, or the information related to the secured party. It is also used when an additional secured party is added to an existing financing statement. There are two types of Louisiana UCC Financing Statement Amendments: a Standard Amendment and an Extension Amendment. A Standard Amendment is used to make any kind of change to the existing financing statement, such as adding or deleting collateral or changing the debtor's name or address. An Extension Amendment is used to extend the duration of a financing statement. Both types of amendments must be filed with the Secretary of State in order to be effective.
Louisiana UCC Financing Statement Amendment (Pursuant To Chapter 9 of The Commercial Laws)
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How to fill out Louisiana UCC Financing Statement Amendment (Pursuant To Chapter 9 Of The Commercial Laws)?
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You can record a Louisiana UCC Financing Statement Amendment (Pursuant To Chapter 9 of The Commercial Laws) at the Secretary of State's office in Louisiana. This office maintains the official records for all UCC filings in the state. By properly filing your UCC amendment, you help protect your security interests and ensure that third parties can see the most current information regarding your financing statement. For convenience, consider using the US Legal Forms platform, which offers easy access to filing forms and guidance to streamline the process.
A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
A UCC3 is a change statement to a UCC1. It's an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It's a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.
Assignment When a secured party needs to assign or transfer all or a portion of its rights to the collateral listed in a UCC-1 financing statement. It is considered an alteration of the previous filing.
UCC-1 Financing Statements may be filed with any Louisiana Parish Clerk of Court without regard to the debtor's address, location of the collateral or of any related immovable. Initial Financing Statements can now be submitted to any Louisiana Parish Clerk of Court online through the Secretary of State's website.
To address this issue, the UCC creates an exception to the general rules on priority for the purchase of monetary collateral. A creditor must have a security arrangement with the debtor in order to have a valid security right. The security agreement must: A car loan is the most well-known transaction secured by UCC.
UCC-11 Search UCC Certificate (per debtor name)$30Copies of documents$2 per pageCertification of copies$5 each
In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
Section XIX-123 - Additional Specific Requirements for Filings Changing the Status of an Initial UCC Filing A. Continuation Statement 1. A filed financing statement is effective for a period of five years. No exception is made for a stated maturity date of less than five years.
