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For Filing Officer STATE OF MINNESOTA UCC-1 FINANCING STATEMENT This statement is presented for filing pursuant to Minnesota Uniform Commercial Code, Minnesota Statutes Chapter 336.9-402. (Type in

How to fill out state of minnesota ucc-1

How to fill out state of Minnesota UCC-1?

1. Obtain the UCC-1 form: The State of Minnesota provides the UCC-1 form on its official website. You can download and print it out for completion.
2. Enter the debtor's information: Start by entering the debtor's name, address, social security number or EIN (Employer Identification Number), and their contact details. This information helps identify the party against whom a secured interest is claimed.
3. Describe the collateral: Describe the collateral being claimed in detail. Include specific details such as make, model, serial number, and any other identifying characteristics. This description helps establish the nature and value of the asset being used as collateral.
4. List the secured party's information: Include the name, address, and contact details of the secured party. This is the individual or entity who holds a security interest in the collateral and has the right to enforce it.
5. Indicate the debtor's type: Specify whether the debtor is an individual, organization, or other legal entity. This helps categorize the debtor properly and determines the applicable laws and regulations.
6. Define the collateral's category: Identify the category of the collateral, such as goods, fixtures, inventory, or general intangibles. This classification ensures that the proper rules and regulations are followed.
7. Complete additional information: Fill out any additional information required by the form, such as special provisions, additional debtors, or secured parties. Double-check all information for accuracy and completeness.

Who needs the state of Minnesota UCC-1?

1. Individuals filing a financing statement: If you want to establish a security interest in personal property, such as equipment, vehicles, or other assets, you will need to complete the UCC-1 form.
2. Organizations lending money or providing credit: Financial institutions, banks, and other lenders use the UCC-1 form to protect their interests when lending money or extending credit to borrowers. It establishes their priority in case of default or bankruptcy.
3. Businesses selling goods on credit: If your business sells goods on credit and wants to secure its rights to those goods until payment is made, filing a UCC-1 form is recommended. It helps protect against potential losses if the buyer defaults on payment.

Note: It is essential to consult legal counsel or a qualified professional to ensure that you accurately complete and file the state of Minnesota UCC-1 form, as specific requirements and regulations may apply.

For pdfFiller’s FAQs

What is state of minnesota ucc-1?

The State of Minnesota UCC-1 refers to the Uniform Commercial Code-1 form that is used to provide notice of a security interest in personal property.

Who is required to file state of minnesota ucc-1?

Any individual or business that wants to establish a security interest in personal property or assets in Minnesota is required to file a UCC-1 form with the Secretary of State.

How to fill out state of minnesota ucc-1?

To fill out the State of Minnesota UCC-1 form, you will need to include information such as the debtor's name and address, the secured party's name and address, a description of the collateral, and any additional information required by the form.

What is the purpose of state of minnesota ucc-1?

The purpose of the State of Minnesota UCC-1 form is to provide a public record of a security interest, allowing interested parties to be informed about existing liens or claims on personal property.

What information must be reported on state of minnesota ucc-1?

The State of Minnesota UCC-1 form requires the reporting of information such as the debtor's name and address, the secured party's name and address, a description of the collateral, and any other information necessary to create a valid security interest.

When is the deadline to file state of minnesota ucc-1 in 2023?

The deadline to file the State of Minnesota UCC-1 form in 2023 may vary depending on the specific circumstances or transaction. It is recommended to consult with the Minnesota Secretary of State or legal professionals for accurate and up-to-date information.

What is the penalty for the late filing of state of minnesota ucc-1?

The penalty for the late filing of the State of Minnesota UCC-1 form may vary based on the specific situation and the discretion of the Secretary of State. It is advisable to consult with legal professionals or the Minnesota Secretary of State for accurate and current penalty information.

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