UCC-3 Financing Statement (04/20/11 Version)

The UCC-3 Financing Statement (04/20/11 Version) is a legal template used to document changes or amendments to a previously filed UCC-1 financing statement under the Uniform Commercial Code (UCC).

The UCC-1 financing statement is a legal document filed by a creditor to create a security interest in collateral owned by a debtor, providing the creditor with rights in the event of default or insolvency. However, circumstances may arise that require modifications or updates to this original financing statement, such as changes to collateral, amendments to debtor information, or termination of the security interest.

The UCC-3 Financing Statement template, specifically dated as the April 20, 2011, version, serves as a standardized form for filing such modifications or amendments. It ensures compliance with UCC regulations, which vary slightly across jurisdictions. This template facilitates the recording of changes in a clear and consistent manner, promoting legal certainty and streamlining the process for both debtors and creditors.

By utilizing the UCC-3 Financing Statement (04/20/11 Version), parties involved in commercial transactions can efficiently make adjustments to an existing UCC-1 financing statement, maintaining accurate documentation of their rights and interests in collateral. It further protects the creditor's position in case of bankruptcy, foreclosure, or other legal proceedings involving the debtor.

Overall, this legal template enables creditors and debtors to fulfill their legal obligations and manage their financial affairs effectively within the framework of UCC regulations.