Arkansas UCC1 Financing Statement Addendum Arkansas Form

What is the Arkansas UCC1 Financing Statement Addendum Arkansas?

The Arkansas UCC1 Financing Statement Addendum is a legal document used in the context of secured transactions. It serves as an attachment to the UCC1 Financing Statement, providing additional information about the collateral involved in the transaction. This addendum is essential for creditors to establish their security interests in personal property, ensuring that their claims are recognized in case of default. The form must be filed with the appropriate state authority to be effective and enforceable.

Steps to Complete the Arkansas UCC1 Financing Statement Addendum Arkansas

Completing the Arkansas UCC1 Financing Statement Addendum involves several key steps to ensure accuracy and compliance with state regulations:

• Begin by gathering all necessary information about the debtor and the secured party.
• Clearly describe the collateral that is being secured. This may include specific items or categories of goods.
• Fill out the form accurately, ensuring that all fields are completed as required.
• Review the completed addendum for any errors or omissions before submission.
• Submit the addendum along with the UCC1 Financing Statement to the appropriate state office.

Legal Use of the Arkansas UCC1 Financing Statement Addendum Arkansas

The Arkansas UCC1 Financing Statement Addendum is legally binding when properly completed and filed. It is crucial for establishing priority among creditors in the event of debtor insolvency. The addendum must comply with the Uniform Commercial Code (UCC) provisions to be valid. This includes ensuring that the information provided is accurate and that the addendum is filed within the appropriate time frame following the initial UCC1 filing.

Key Elements of the Arkansas UCC1 Financing Statement Addendum Arkansas

Several key elements must be included in the Arkansas UCC1 Financing Statement Addendum to ensure its validity:

• The name and address of the debtor and secured party.
• A detailed description of the collateral.
• Any additional information that clarifies the security interest.
• Signature of the secured party or authorized representative.

How to Obtain the Arkansas UCC1 Financing Statement Addendum Arkansas

The Arkansas UCC1 Financing Statement Addendum can be obtained from the Arkansas Secretary of State's office or their official website. It is typically available as a downloadable form that can be filled out electronically or printed for manual completion. Ensure that you are using the most current version of the form to avoid any compliance issues.

Filing Deadlines / Important Dates

Filing deadlines for the Arkansas UCC1 Financing Statement Addendum are critical for maintaining the priority of the secured interest. Generally, the UCC1 and its addendum should be filed promptly after the security agreement is executed. It is advisable to check with the Arkansas Secretary of State for any specific deadlines or updates that may affect filing requirements.