Subject: Loan Closing UCC-1 Forms Submission — Wyoming Dear [Lender/Loan Officer's Name], I am writing to transmit the UCC-1 Forms required for the successful completion of the loan closing process in the state of Wyoming. These forms serve as a vital part of securing our interest in the collateral pledged for the loan, as outlined in our loan agreement dated [Loan Agreement Date]. The UCC-1 Forms, or Uniform Commercial Code Financing Statement, are an important legal document that helps establish a priority claim on the assets used as collateral for the loan. By properly filing these forms with the Wyoming Secretary of State's Office, we ensure that our interest in the collateral is legally recognized and protected. In compliance with Wyoming statutes and regulations, we have meticulously completed the necessary paperwork, ensuring accuracy and completeness. Enclosed are the following UCC-1 Forms required for this loan closing: 1. Initial Financing Statement: This form provides essential information about the debtor, secured party, collateral description, and filing details. 2. Amendment to Financing Statement: Should any modifications or changes to the initial financing statement be necessary, this form allows us to update and reflect accurate information related to the loan and collateral. 3. Continuation Statement: To maintain our priority position on the collateral, it is imperative to file continuation statements within specified time intervals. This form extends the effectiveness of the initial financing statement for an additional term. 4. Termination Statement: Upon full repayment and release of the loan obligation, this form is filed to record the termination of our interest in the collateral, providing evidence of the release of the lien. Please review the enclosed UCC-1 Forms to ensure their accuracy and completeness. Kindly have the appropriate authorized personnel sign each form where indicated. To expedite the processing of these forms, I kindly request that you assist in forwarding them to the Wyoming Secretary of State's Office for filing within the specified timeframe outlined in our loan agreement. Additionally, please provide us with a copy of the filed UCC-1 Forms once available. Should you have any questions or require further clarification, please do not hesitate to contact me at [Your Contact Information]. Thank you for your cooperation and prompt attention to this matter. Yours sincerely, [Your Name] [Your Title/Organization] [Your Contact Information]
Wyoming Sample Letter Transmitting UCC-1 Forms for a Loan Closing
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Yes, UCC filings are public records. This means anyone can access them to verify obligations and secured interests. However, it is always wise to check your state's specific laws regarding access and how to obtain these filings. Knowing the public nature of UCC filings helps ensure transparency in your financial dealings.
When you see UCC on a title, it indicates that a security interest has been recorded under the Uniform Commercial Code. This serves as a public notice to other creditors about the lender's claim on the property. Filing a UCC-1 form can help protect your investment and ensure your rights are clear.
No signatures are required if included they will be redacted. No SSN or TIN numbers required if included they will be redacted. Debtor and Secured Party may not appear to be the same.
A4. 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.
If the debtor is bound by a security agreement, authorization to file a financing statement is implied. If the debtor is not bound (or not yet bound) by the security agreement, the debtor must authenticate the financing statement.
When the debtor has satisfied all amounts owed to the lender, a UCC-3 termination statement (now called a UCC termination statement) is routinely filed to terminate the security interest perfected by the UCC-1 financing statement.
Although the UCC-1 Financing Statement does not require signatures, any attachment such as the legal description or special terms and conditions may require the signature of the Debtor.
(b) An EFS may be filed electronically provided a State allows electronic filing of financing statements without the signature of the debtor under applicable State law under provisions of the Uniform Commercial Code or may be a paper document.
Visit your secretary of state's office. To do so you will generally need to make a trip in person down to your secretary of state's office. Once there, you will be able to swear under oath that you've satisfied the debt in full and wish to request for the UCC-1 filing to be removed.
Addresses. Technically, a correct address is not required for a financing statement to be effective. However, a filing office can (and usually will) reject financing statement without addresses for the Debtor or the Secured Party as allowed under Section 9-516(b)(4) and (5).
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Ala. Sec. 62-4-1101. [§] Notaries Public. Unless otherwise provided in Section 62-1-1115, a Notary Public is an individual who has obtained a certificate of authorization under Section 62-4-1120. [¶] Notaries public are generally authorized by the Governor, the State Superintendent of Public Instruction, and the Attorney General. [¶] No notary public may be an officer or agent of any company, person, or political party for the purpose of making the certification required by this act. [¶] All Notaries Public certified under this section must: (a) Notarize applications and provide official statements under oath; (b) Notarize and file all official documents or statements made under oath as required by law; (c) File all official documents in the manner provided by law; and (d) Comply with all state and federal laws and regulations on the use of oaths. [¶] A Notary Public is not appointed or elected by the General Assembly.
