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Public form
Description
UCC1 - National Financial Statement - For use after July 1, 2001. This form is a financing statement used to cover certain collateral as specified in the form. This Financing Statement complies will all applicable state laws.
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Interesting Questions
You'll need basic details like the debtor's name, the secured party's name, and a description of the collateral. Think of it as painting a clear picture of what’s on the line!
Amending or canceling a UCC1 is straightforward. You simply file a new document to update or revoke the original. It's like keeping your records tidy and up-to-date!
Absolutely! UCC1 filings are public records. Anyone can check them out, which is handy for doing background checks on businesses.
A UCC1 filing typically lasts for five years. After that, you'll need to renew it to keep your rights intact, or it’s like losing a hold on your security.
Filing a UCC1 is crucial because it protects your rights as a creditor. If you don't file, you might be left in the lurch if the borrower defaults!
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Saint Paul Minnesota UCC1 National Financial Statement