Financing Statement Amendment Additional Party form for adding additional Debtors or Secured Parties to Financing Statement Amendment (Form UCC3) filed with the Maine filing office.
Maine UCC3 Financing Statement Amendment Additional Party
State:
Maine
Control #:
ME-UCC3-AP
Format:
PDF
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FAQ
Yes, a UCC financing statement can be assigned through the use of a UCC-3 assignment form. This allows the initial secured party to transfer their rights to another party, thereby enabling the new party to hold the security interest. If you're navigating the complexities of a Maine UCC3 Financing Statement Amendment Additional Party, utilizing the UCC-3 assignment ensures that all legal interests are correctly represented.
To terminate a UCC financing statement, you must file a UCC-3 form, specifically noting the termination. This process involves providing the details of the original UCC statement, including the debtor's name and details of the secured party. By officially marking the financing statement as terminated, you effectively release any claims on the asset, ensuring clarity in property interests in Maine.
In the state of Maine, a UCC financing statement must be filed with the Secretary of State’s office, ensuring it is part of the public record. This location is essential for maintaining the integrity of the information regarding secured interests. Utilizing the uslegalforms platform simplifies the filing process, allowing you to easily manage and file your Maine UCC3 Financing Statement Amendment Additional Party, streamlining your experience and ensuring compliance.
Section 9-503 of the UCC provides various, more specific rules regarding the sufficiency of a debtor's name on a financing statement.However, unlike with a security agreement, on a financing statement it is acceptable to use a supergeneric description of collateral.
To continue the effectiveness of a UCC-1 financing statement beyond its initial 5-year effective period, a secured party must file a Continuation. A Continuation extends the life of the financing statement for an additional five years.Each Continuation must identify, by its file number, the UCC-1 to which it relates.
A UCC-3 termination statement (a Termination) is a required filing that terminates a security interest that has been perfected by a UCC-1 filing. 1. A Termination for personal property is accomplished by completing and filing form UCC-3 with the Secretary of State's office in the appropriate state.
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.
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.
When the debtor has satisfied all amounts owed to the lender, a UCC-3 termination statement (now called a UCC termination statement) is routinely filed to terminate the security interest perfected by the UCC-1 financing statement.
