A Wisconsin Financing Statement Amendment is a filing used to make changes to a financing statement (UCC-1) that has already been filed with the Wisconsin Department of Financial Institutions. The amendment is used to add or delete a debtor, add or delete a secured party, add or delete property on the financing statement, or correct the name of a debtor or secured party on the financing statement. There are three types of Wisconsin Financing Statement Amendment: Amendment (UCC3), Amendment to Add Debtor (UCC3AD), and Amendment to Delete Debtor (UCC3DD).
Wisconsin Financing Statement Amendment
State:
Wisconsin
Control #:
WI-SKU-1135
Format:
PDF
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Financing Statement Amendment
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FAQ
An assignment adds a secured party. An amendment to add a secured party adds a secured party.
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.
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.
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.
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 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.
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.
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.