UCC Financing Statements Checklist


Summary

This Uniform Commercial Code (UCC) financing statement checklist provides a road map for formulating lien search parameters and drafting and tracking UCC termination, amendment, and new financing statement filings in conjunction with a secured loan transaction. Article 9 of the UCC sets forth the requirements to perfect security interests in personal property. The filing of a financing statement would perfect most types of personal property and some investment property. The amendment process is more expansive and variable than the preparation of a UCC-1 financing statement. These amendments (referred to as the UCC-3 form) can include the release of collateral or the outright termination of the initial financing statement.