The Wisconsin Financing Statement Amendment Additional Party is a form used to add a party to an existing financing statement in the state of Wisconsin. It can be used to add a debtor, secured party, or both. This form is filed with the Wisconsin Department of Financial Institutions and must include the original financing statement number, the name and address of the additional party, and a statement indicating the type of party being added. There are two types of Wisconsin Financing Statement Amendment Additional Party forms: one for the addition of a debtor and one for the addition of a secured party.
Wisconsin Financing Statement Amendment Additional Party
State:
Wisconsin
Control #:
WI-SKU-1137
Format:
PDF
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Financing Statement Amendment Additional Party
How to fill out Wisconsin Financing Statement Amendment Additional Party?
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FAQ
(a) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed.
To put it in simple terms, the secured party is the creditor on the UCC loan. The creditor is the secured party because they have a financial interest in the collateral which the lien is on.
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.
Original Financing Statement (UCC1) Subsection (a) (2) provides that the office in which to file a financing statement to perfect a security interest is the office of the Secretary of State in all other cases.
A partial release is filed as an amendment to the original UCC filing. This amendment states which collateral or party was released from the lien.
Secured party is a lender, seller, or other person in whose favor a security interest exists. Debtor is the person who owes payment or performance of the obligation that is secured. Security agreement is the agreement between the secured party and the debtor that creates or provides for a security interest.
Under Revised Article 9 of the Uniform Commercial Code, secured parties are permitted to file UCC Financing Statements prior to formal execution of the security agreement (pre-file) provided they receive proper authorization from the debtor to do so.
How to complete a UCC1 (Step by Step) Filer Information. Name and phone number of contact at filer. Email contact at filer.Debtor Information. Organization or individual's name. Mailing address. Secured Party Information. Organization or individual's name. Mailing address. Collateral Information. Description of collateral.