This form is used when the signing party hereby certifies that the referenced Operating Agreement has expired and that the Memorandum of Operating Agreement and Financing Statement is fully released and discharged and the parties to the Operating Agreement no longer claim any security interest under the above mentioned Financing Statement.
Puerto Rico Release of Memorandum of Operating Agreement and Termination of Financing Statement
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Multi-State
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US-OG-766
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How to fill out Release Of Memorandum Of Operating Agreement And Termination Of Financing Statement?
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FAQ
Currently, the UCC (in whole or in part) has been enacted, with some local variation, in all 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands.
Current Article 9 Forms for Use in Puerto Rico: UCC1 - Initial financing statement. UCC1 Addendum - Always use the addendum form for fixture/real-estate-related filings, when you have up to two additional debtors or one additional secured party or when you want to designate an assignor secured party.
Every U.S. state and the District of Columbia have adopted at least part of the UCC (though it has not been adopted as federal law). Each jurisdiction, however, may make its own modifications (Louisiana has never adopted Article 2), and may organize its version of the UCC differently.
Puerto Rico LLC Cost. The initial cost to start an LLC in Puerto Rico is $250 to register your business with the Department of State. After that, you'll have a yearly recurring cost of $150 for your Annual Fee, which keeps your LLC current with the state.
The last major revision of Article 9 occurred in 1998. It went into effect on July 1, 2001 and has been adopted in all fifty states.
On January 18, 2022, Judge Laura Taylor Swain of the U.S. District Court for the District of Puerto Rico confirmed the Plan of Adjustment for the Commonwealth of Puerto Rico to restructure $33 billion of liabilities against the Commonwealth of Puerto Rico, the Public Building Authority (PBA), and the Employee ...
Louisiana and Puerto Rico have enacted most of the provisions of the UCC with only minimal changes, except Articles 2 and 2A, preferring instead to maintain their own civil law tradition for governing the sale and lease of goods.
The UCC is a collection of proposed model laws, drafted by the American Law Institute and the National Conference of Commissioners on Uniform State Laws, that are meant to serve as a guide for state legislatures when they draft statutes involving commercial contracts and related dealings.
