Fill a Valid Colorado Ucc3 Form

What is a UCC3 Amendment form in Colorado?

A UCC3 Amendment form is a legal document used in the state of Colorado to make changes to an already filed UCC financing statement, commonly known as a UCC1. These changes can include amendments, assignments, continuations, or terminations of the financing statement.

How much does it cost to file a UCC3 form in Colorado?

The filing fee for a UCC3 form in Colorado is $18. It's important to make the check payable to the Colorado Secretary of State and to write the check for the exact amount to avoid rejection.

Where do I mail the UCC3 Amendment form in Colorado?

You should mail the completed UCC3 Amendment form, along with the correct payment, to the Colorado Secretary of State at 1700 Broadway Ste 200, Denver, CO 80290.

Can I make any kind of change to my original UCC filing with a UCC3 form?

Yes, the UCC3 form allows you to make several types of changes to your original UCC filing, including terminating the effectiveness of the statement, continuing the effectiveness of the statement, assigning interests to another party, or amending debtor or secured party information.

What information is required to fill out a UCC3 form?

To correctly fill out a UCC3 form, you must provide the original filing number and date, specify the type of amendment (termination, continuation, assignment, or amendment), and provide the current record information along with any new or changed information.

What is the process for filing a continuation statement with a UCC3 form?

To file a continuation statement, you must check the "Continuation" box on the UCC3 form. This extends the effectiveness of the original financing statement for an additional period as provided by applicable law, typically five years from the lapse date of the original statement.

How do I assign interests using the UCC3 form?

To assign interests using the UCC3 form, fill in the name and address of the assignee in the designated section, and also provide the name of the assignor. This officially transfers the rights or interest under the UCC filing from the assignor to the assignee.

Is it possible to use the UCC3 form to amend debtor information?

Yes, you can use the UCC3 form to amend debtor information, such as name changes or address updates. Simply check the appropriate box under the amendment section, and provide the current record name along with the new name or address.

If my document is rejected, what should I do?

If your document is rejected, the Colorado Secretary of State will return your check along with the rejected document. You can then correct the document as needed and resubmit it for filing with the returned check, provided that checks must be for the exact amount or the document may again be rejected and returned.

Here are seven common mistakes people make when filling out the Colorado UCC3 form:

1. Not providing the original filing number and date. Sections 1a and 1b require the original filing number and date. Failing to include this vital information can result in the amendment failing to properly associate with the initial financing statement.
2. Selecting multiple amendment actions. The form divides amendment actions into Termination, Continuation, Assignment, and Amendment (Party Information), including collateral changes. It's important to select only the relevant action for your specific amendment needs, as selecting multiple or incorrect options can invalidate the form.
3. Omitting contact information for the sender. While section A (name and phone of contact) is optional, including this information can facilitate communication if there are issues with the filing, speeding up resolution and processing.
4. Incorrectly identifying the party initiating the amendment. In section 9, the name of the secured party or, in certain cases, the debtor authorizing the amendment must be correctly entered. Misidentifying the party can lead to processing delays or the amendment not being correctly applied.
5. Failure to provide new or updated information. When making an amendment that involves a change of name, address, or adding new collateral or parties, it's crucial to accurately complete sections 6 and 7 with the updated information. Overlooking or inaccurately filling these sections can result in the amendment not reflecting the intended changes.
6. Forgetting to include payment. The form requires a filing fee, and failure to include the correct payment, or a check written for the exact amount, can lead to the rejection of the amendment. It's also important to remember to make checks payable to the Colorado Secretary of State and to include a separate check for each form submitted.
7. Leaving the form unsigned. Although not explicitly mentioned on the list provided, all filings must be signed by the authorized party. An unsigned form can be considered incomplete and be subject to rejection.

By avoiding these common errors and ensuring that all required information is correctly provided and clearly legible, you can improve the likelihood of a smooth processing of your Colorado UCC3 amendment form.

When dealing with the Colorado UCC3 form, an amendment to the initial financing statement, several other documents are commonly used to ensure a thorough legal process in managing or amending secured transactions. These documents complement the UCC3 form by providing additional information required for amendments, continuations, assignments, or terminations related to a UCC financing statement.

• UCC1, Initial Financing Statement: This form is necessary to record a new security interest or lien, providing public notice. It is the basis for any amendments made with a UCC3 form.
• UCC1AD, Additional Party Form: Used when more than two parties are involved in the transaction, allowing for the inclusion of additional debtors or secured parties.
• UCC5, Correction Statement: Filed to correct inaccuracies or wrong information on a previously filed financing statement, ensuring the accuracy of public records.
• UCC11, Information Request: A form submitted to obtain a list of all active filings for a particular debtor, useful for due diligence and verifying the status of liens before making amendments.
• Amendment Addendum (UCC3Ad): Provides additional space for detailed information when amending a financing statement, especially when adding or deleting collateral, or making other detailed amendments.
• Assignment Addendum (UCC3As): Used specifically for assignments, allowing for the detailed information about the assignor and assignee to be recorded.
• Continuation Sheet (UCC3Ct): Necessary when more space is required to properly describe collateral or when complex transactions need additional clarifications.
• Real Estate Recording Information (if applicable): When the collateral involves fixtures, ascribed crops, or mining claims, real estate recording documents may be necessary to accompany the UCC filing.
• Power of Attorney: Sometimes included with UCC filings to authorize representatives to sign and file on behalf of one of the parties, especially in assignments or terminations.

Understanding the purpose and requirements of each document helps in properly filing and amending UCC financing statements. Completing and submitting the correct forms ensures that the secured parties' interests are accurately recorded and maintained, safeguarding their rights to the collateral. For those not familiar with legal documents, it's advisable to seek professional guidance to navigate through the filing process effectively.

The Colorado UCC3 form is similar to several other key documents involved in the process of securing interests and amending financial statements. Here, we will explore how it parallels other forms in function and purpose.

The UCC1 Financing Statement: Much like the Colorado UCC3 form, the UCC1 Financing Statement is foundational in the realm of secured transactions. Both aim to provide public notice, the former establishing a secured party's interest in the debtor's collateral, while the latter amends, continues, assigns, or terminates the interest documented in a UCC1 filing. Where they converge is in their mutual requirement for detailed information about the debtor, secured party, and the collateral in question. The key difference lies in their purposes: UCC1 initiates the public notice of a security interest, while UCC3 modifies the recorded information, ensuring it accurately reflects current agreements and statuses.

The Statement of Release or Termination: Specifically mirroring the termination aspect of the Colorado UCC3 form, the Statement of Release or Termination serves a similar function in indicating the end of a security interest’s effectiveness against collateral. Both documents entail a secured party's declaration that its claims over the debtor's assets, as previously asserted and recorded, are no longer valid. Effectively, they mark the culmination of a secure transaction lifecycle by notifying interested parties through public record that a lien or security interest has been satisfactorily resolved or extinguished.

The Assignment Form: Within the spectrum of functionalities that the Colorado UCC3 form encompasses, its assignment section parallels standalone assignment forms. These forms are utilized to formally transfer rights held by one party (the assignor) to another (the assignee). The UCC3's assignment provision and a dedicated assignment form both facilitate the recording of such transfers, ensuring the accuracy of public records. This commonality underscores their shared goal of keeping the documentation of interests and rights in collateral up-to-date, reflecting real-time changes in parties’ positions or relationships.

The Continuation Statement: Another document akin to the Colorado UCC3 form in its continuation capacity. While the Colorado UCC3 serves multiple functions, including amendments and terminations, it also allows for the continuation of a financial statement's effectiveness beyond its original expiry date. Similar standalone continuation statements serve this singular purpose, ensuring a continued lien or security interest on the debtor's collateral for an additional term as allowed by law. Both forms play a critical role in maintaining the validity and enforceability of a secured party’s interest in the face of time-bound regulatory constraints.

Filling out the Colorado UCC3 Form correctly is crucial for ensuring your amendment to the UCC financing statement is accepted without issues. Here are some tips on what you should and shouldn’t do:

• Do ensure you have the original filing number and date before you start, as these are required to process your amendment.
• Do not overlook the contact information section. Even though it is optional, including your name and phone number can help if there are any questions about your filing.
• Do check the appropriate box to indicate whether you’re filing for a termination, continuation, assignment, or an amendment. Only one option should be selected to clearly state the purpose of the amendment.
• Do not forget to specify the name and address of the assignee and assignor if this amendment involves an assignment. Complete details are necessary for a valid assignment amendment.
• Do carefully review the information regarding the debtor or secured party that the amendment will affect. Ensure the current record information is correctly entered before making any changes or additions.
• Do not leave the additional information section blank if it’s applicable. Details such as type and jurisdiction of the organization, along with the organization ID number, can be critical for certain amendments.
• Do describe any collateral changes accurately if your amendment involves adding, deleting, or restating collateral. Clear descriptions prevent misunderstandings and processing delays.
• Do not ignore the optional filer reference data at the bottom of the form. Including a reference can help you track your amendment and assist in any future inquiries.
• Do make sure the form is mailed with the correct payment to the Colorado Secretary of State and that the check is made out for the exact amount required. Incorrect payments can result in your document being rejected.

Following these guidelines will help ensure that your Colorado UCC3 Form is filled out correctly and processed efficiently, avoiding unnecessary delays or rejections.

The Colorado UCC-3 Amendment Form is a critical document within the realm of commercial finance and secure transactions. Individuals and entities often harbor misconceptions about its purpose, usage, and implications. Understanding these misconceptions is vital for accurate completion and effective utilization of the form.

• Only for Terminating Financing Statements: A common misunderstanding is that the Colorado UCC-3 form is solely used to terminate a financing statement. While termination is indeed a significant function, the UCC-3 form also facilitates amendments, including changes to the debtor's information, secured party information, and updates to the collateral description. Additionally, it can be used for assignment purposes where rights under the financing statement are transferred to another party.

• Amendments Can Be Informally Communicated: Some believe that amendments to a financing statement can be made through informal agreements between involved parties. However, for an amendment to be legally binding and acknowledged by third parties, it must be officially filed using the UCC-3 amendment form. This process ensures that the updated information is publicly accessible and provides a legally recognized record of the amendment.

• No Need for Original Filing Details: Misunderstanding often surrounds the necessity of providing details from the original financing statement (UCC-1) when filing an amendment. Contrary to this belief, information such as the initial filing number and date are crucial. These details are required to accurately identify and connect the amendment to the original filing, ensuring the intended changes are correctly applied.

• All Amendments Are Treated the Same: There's a misconception that all amendments on the UCC-3 form are processed and recognized identically. However, the type of amendment (e.g., debtor information change, secured party change, collateral addition or deletion) can significantly influence the rights of the parties and the priority of the security interest. The specific nature of the amendment can affect its legal implications.

• Debtor Authorization is Not Required: Some parties might think that debtor authorization is not needed for filing most amendments. This is incorrect, particularly in scenarios where the amendment adds collateral or additional debt obligations. In such cases, the debtor's consent and authorization, indicated on the form, are mandatory to validate the amendment. This requirement protects debtors from unauthorized alterations to their obligations or rights.

Understanding these nuances is crucial for parties engaged in secured transactions in Colorado. Misinterpretations can lead to ineffective filings, legal disputes, or unintended financial consequences. As such, a precise and informed approach to using the Colorado UCC-3 form is imperative.

When dealing with the Colorado UCC3 form, which is used for amending a previously filed UCC financing statement, it's important to understand several key points about its completion and use. Here is a concise list of takeaways to ensure clarity and compliance with the Colorado filing requirements:

• Accurate Information: Ensure that all provided information is precise, including the original filing number and date. This is crucial for correctly identifying the initial financing statement you intend to amend.
• Clear Purpose: The form allows for different types of amendments - termination, continuation, assignment, and changes to party information or collateral. Select only the applicable amendment type to avoid confusion.
• Mandatory Fields: Some sections of the form are mandatory. For example, you must include the initial financing statement information. Do not leave these fields blank.
• Optional Contact Information: While providing the name and phone number of a contact person is optional, it's highly recommended to facilitate any necessary communication about the amendment filing.
• Payment: A filing fee of $18 is required. Ensure the check is made out for the exact amount and payable to the Colorado Secretary of State. Incorrect payment amounts could lead to the rejection of the document.
• Address for Filing: Mail the completed form along with the correct payment to the Colorado Secretary of State at the specified address. Including the correct address ensures your filing reaches the intended destination without delays.
• Separate Checks: If submitting multiple forms, include a separate check for each form. This helps in managing payment for documents individually, especially in cases where a document might be rejected and returned.
• Document Handling: If a document is rejected, the separate check system allows for an easier return of payment. It also facilitates the correction and resubmission of documents without financial complications.

The Colorado UCC3 form is a critical document for amending the details of a secured transaction. Filling it out correctly ensures legal compliance and aids in the proper maintenance of public records related to personal property security interests. Whether it's modifying party information, extending the term of a UCC filing, or terminating a filing, attention to detail and adherence to the state's filing requirements are paramount.