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South Carolina UCC-3ad Financing Statement Amendment Addendum

South Carolina UCC-3ad Financing Statement Amendment Addendum

Name: South Carolina UCC-3ad Financing Statement Amendment Addendum
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.65 (272 reviews)

Category:

South Carolina Secretary of State - UCC

State:

South Carolina

Control #:

SC-SKU-0936

Format:

Instant download

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Public form

Description

UCC-3ad Financing Statement Amendment Addendum South Carolina UCC-3ad Financing Statement Amendment Addendum is a form used to amend a secured party's existing financing statement that was previously filed in South Carolina. It is important to file this form in order to keep the financing statement up-to-date. This form is used to update information such as the secured party, the debtor, the collateral, and the filing office. There are two types of South Carolina UCC-3ad Financing Statement Amendment Addendum: Amendment to Financing Statement and Amendment to Financing Statement with Assignment of Security Interest. The Amendment to Financing Statement is used to change information on an existing financing statement, such as the secured party or the collateral. The Amendment to Financing Statement with Assignment of Security Interest is used to change the secured party and assign the security interest to a new secured party.

South Carolina UCC-3ad Financing Statement Amendment Addendum is a form used to amend a secured party's existing financing statement that was previously filed in South Carolina. It is important to file this form in order to keep the financing statement up-to-date. This form is used to update information such as the secured party, the debtor, the collateral, and the filing office. There are two types of South Carolina UCC-3ad Financing Statement Amendment Addendum: Amendment to Financing Statement and Amendment to Financing Statement with Assignment of Security Interest. The Amendment to Financing Statement is used to change information on an existing financing statement, such as the secured party or the collateral. The Amendment to Financing Statement with Assignment of Security Interest is used to change the secured party and assign the security interest to a new secured party.

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How to fill out South Carolina UCC-3ad Financing Statement Amendment Addendum?

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For UCC and EFS, a termination creates a public record that a loan was repaid, a lien was removed, or some other obligation was met. The records will remain in our system until two years after they lapse.

When you pay off a loan, a good rule of thumb is to immediately submit a request with the lender to file a UCC-3 form with your secretary of state. The UCC-3 will terminate the lien on your company's asset (or assets) and remove the UCC-1 filing.

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.

Ask the lender to terminate the lien upon payoff. A good rule of thumb is to request that your lender file a UCC-3 form with your secretary of state as soon as possible after you pay off your loan. The UCC-3 will terminate the lien on your company's assets (or assets) and remove the UCC-1 filing.

It's possible to avoid a UCC filing by taking out an unsecured business loan rather than a secured one. For example, many online and alternative lenders offer unsecured loans, and you can get an SBA 7(a) loan of up to $25,000 without collateral.

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.

What is a UCC Cooperative Addendum/UCC Addendum form: A filed UCC Cooperative Addendum form contains the names of the debtor, the secured party or its representatives, and the cooperative. It also holds information such as the property's address and the file number of the Initial UCC-1.

Generally, the debtor must first make a formal (or authenticated) demand to the secured party of record to terminate the UCC-1. This process involves sending a signed written request to the secured party of record demanding for said party to file a UCC-3 termination statement.

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If this Amendment (Form UCC3) is to be filed in the real estate records, complete the required information. (items 15, 16, and 17).Complete item 13 in accordance with instructions on Amendment Addendum (Form UCC3Ad). Enter information exactly as given in item 9 on Amendment form. 13. Filer: attach Amendment Addendum (Form UCC3Ad) and provide Debtor's name in item 13. A blank form follows these instructions. The UCC3 Financing Statement Amendment Addendum must be filed in conjunction with a UCC3 Financing. This form can be filled out on your computer and then printed. Online Filing is available. If the space in item 8 is insufficient, use item 13 of.

South Carolina UCC-3ad Financing Statement Amendment Addendum

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