Louisiana UCC-1 Financing Statement (National Version) is a legal document used to provide notice that a creditor has a security interest in a debtor’s personal property. It is used to perfect a security interest in the collateral of a loan, and is filed with the appropriate state office. The National version of the Louisiana UCC-1 Financing Statement is only available to entities filing in Louisiana, and must be signed by both the secured party and the debtor. The document must include the name and address of the secured party, the name and address of the debtor, the date of the security agreement, and a description of the collateral. The two types of Louisiana UCC-1 Financing Statement (National Version) are a UCC-1 Short Form and a UCC-1 Long Form. The Short Form is used when the security agreement does not include a description of the collateral, and the Long Form is used when the security agreement does include a description of the collateral. Both forms must be filed with the Louisiana Secretary of State's office.
Louisiana UCC-1 Financing Statement(National Version)
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How to fill out Louisiana UCC-1 Financing Statement(National Version)?
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FAQ
You can record a Louisiana UCC-1 Financing Statement (National Version) at the correct state filing office. In Louisiana, this office is typically the Secretary of State's office. They provide the necessary resources to ensure that your UCC filing is processed efficiently. Utilizing platforms like US Legal Forms can simplify this process and ensure proper filing.
Yes, Louisiana has adopted the Uniform Commercial Code, which includes the Louisiana UCC-1 Financing Statement (National Version). This legal framework governs secured transactions in the state, providing a reliable method for creditors to secure interests in personal property. Understanding the UCC is essential for businesses and individuals engaging in secured lending. U.S. Legal Forms offers comprehensive resources to help you navigate Louisiana’s UCC, ensuring you understand your rights and obligations.
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.
Essentially, a UCC-1 can be described as a financing statement. 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.
1 financing statement will automatically expire five years after the date of its filing 2.
What are the fees for filing a UCC-1? The filing fee for filing a UCC-1 is $30.
In January of 1990, Louisiana adopted the Uniform Commercial Code.
In the case of a loan secured by personal property collateral, the filing of a financing statement gives notice of a lien against the property so that other lenders or buyers of the personal property will know of the security interest.
A fixture filing is a UCC financing statement with an addendum that is filed in the local jurisdiction where the real property is located and is then recorded in the real property records.
UCC Financing Statement (usually called a UCC-1 Form) is a form that creditors file with states in which they have a security interest in a debtor's personal property.
