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Who is required to file connecticut ucc 1?
Any business that wishes to perfect a security interest in Connecticut must file a UCC-1 Financing Statement with the Connecticut Secretary of State’s Office.
What is the purpose of connecticut ucc 1?
The purpose of Connecticut UCC 1 is to provide uniform rules and regulations for the transfer of personal property in the state of Connecticut. It serves as a legal framework that governs the sale, purchase, and financing of goods, including warranties, title transfer, and other such terms and conditions.
What information must be reported on connecticut ucc 1?
The Connecticut UCC-1 report must include the following information:
1. The name, address, and Social Security Number (SSN) of the debtor.
2. The name, address, and SSN of the secured party.
3. The name and address of the filing office.
4. A description of the collateral.
5. The value of the collateral.
6. The type of security interest.
7. The date of the security agreement.
8. The signature of the debtor.
9. The signature of the secured party.
10. The filing fee.
What is the penalty for the late filing of connecticut ucc 1?
The penalty for late filing of a Connecticut UCC-1 is a $50 late filing fee. In addition, the filing may be declared void or unenforceable if it is not filed within 20 days of the date of the security agreement or financing statement, or if the filing is not made before the debtor grants a conflicting security interest.
What is connecticut ucc 1?
Connecticut UCC 1 refers to the Uniform Commercial Code (UCC) filing form used in the state of Connecticut. The UCC is a set of laws that governs commercial transactions, including sales of goods, secured transactions, negotiable instruments, and various other aspects of commercial law.
The UCC 1 form is typically filled out by a creditor to create a security interest in a debtor's personal property or assets. When filed with the Secretary of State's office, it publicly records the creditor's claim to that specific property or assets. This filing provides notice to other potential creditors and establishes priority in case of a dispute or default.
In Connecticut, the UCC 1 form is used to perfect security interests on personal property or assets within the state. It includes information about the debtor and creditor, description of the collateral, and any other necessary details related to the transaction.
It is important to consult with legal professionals or the appropriate authorities to ensure accurate and compliant filing of the UCC 1 form in Connecticut.
How to fill out connecticut ucc 1?
Filling out a Connecticut UCC-1 form (Uniform Commercial Code Financing Statement) involves providing accurate and detailed information about the debtor and secured party, as well as describing the collateral being used as security. Here are the steps to fill out the Connecticut UCC-1 form:
1. Obtain the UCC-1 form: Visit the official website of the Connecticut Secretary of the State or the website of the Uniform Commercial Code divisions to download the most recent version of the UCC-1 form.
2. Identify the debtor: In section 1a, enter the full legal name of the individual or business entity that is borrowing or has an obligation to make payments. Include any suffixes or corporate designators like "Inc." or "LLC."
3. Provide debtor's address: In section 1b, enter the debtor's mailing address, which is the address where legal notices related to the financing statement will be sent.
4. Include the secured party information: In section 2a, enter the full legal name of the individual or business entity that is providing the loan or has a security interest. Again, include any suffixes or corporate designators.
5. Provide a mailing address for the secured party: In section 2b, enter the secured party's mailing address.
6. Describe the collateral: In section 3, provide a detailed description of the collateral being used as security for the debt. Include all relevant details, such as make, model, serial numbers, or any other identifiers. Be as specific and comprehensive as possible.
7. Indicate if the debtor is an organization: If the debtor is an organization, such as a corporation or limited liability company, mark the appropriate box in section 4.
8. Sign and date the form: In section 6, both the debtor and the secured party must sign the form. Include the date of signing as well.
9. File the form: Make a copy of the completed UCC-1 form for your records and submit the original to the Connecticut Secretary of the State's office. Refer to the instructions on the form or the official website for the specific filing instructions and associated fees.
Note: It is crucial to ensure that the information provided on the UCC-1 form is accurate and consistent with the underlying agreement. Mistakes or omissions may render the financing statement ineffective or less enforceable. If you are unsure about any information or legal requirements, consult with an attorney or seek professional advice.
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