A Nevada Financing Statement Amendment (UCC3) is a document used to amend a security interest in personal property that is recorded with the Nevada Secretary of State. This document is used to modify a previously filed Uniform Commercial Code (UCC) financing statement. There are two types of Nevada Financing Statement Amendments (UCC3): an amendment to add a debtor and an amendment to correct information. An amendment to add a debtor is used to add a new debtor to the original financing statement. An amendment to correct information is used to update or correct information that was originally included in the financing statement. Both types of amendments must be signed by the original secured party.
Nevada Financing Statement Amendment (UCC3)
State:
Nevada
Control #:
NV-SKU-2445
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PDF
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Financing Statement Amendment (UCC3)
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FAQ
Nevada is one of the many states that have codified the Uniform Commercial Code into its statutes. As explained by the United States Small Business Administration, the UCC is a group of laws created by the American Law Institute and the National Conference of Commissioners on Uniform State Laws.
A UCC3 filed as a termination is strictly an amendment. It does not affect the status of the financing statement. A lien's status will only be affected by the lapse date. Upon lapse a lien will show as ?LAPSED-INACTIVE? for one (1) additional year. Administrative rule 34.05.
In these situations, you can file a UCC-3 termination yourself with your secretary of state. You must swear under oath that you've satisfied the debt in full and complete the UCC termination form.
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.
An assignment adds a secured party. An amendment to add a secured party adds a secured party.
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.
It's true, a UCC-3 is used to continue your existing filing, amend your existing filing, terminate your existing filing, or assign your interest to another secured party.
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.