Does Kentucky follow the UCC?

Does Kentucky follow the UCC?

Since the UCC was adopted in Kentucky, our attorneys have overseen the process through which the UCC has been updated and revised.

How do I amend a UCC filing?

To amend your collateral description, click the button labeled “View/Amend Collateral”. After clicking this button, a pop-up will appear and will display the current collateral description and provide options to “Add Collateral, Delete Collateral or Change Collateral”.

What is a UCC-3 financing statement amendment?

A UCC3 is a change statement to a UCC1. It’s an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It’s a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.

Does Michigan follow the UCC?

The UCC has been adopted in one form or another by all fifty states. The Michigan Uniform Commercial Code was first adopted in 1962, and has been amended at various times throughout the years since. Michigan ‘s UCC is divided into nine separate Articles.

How do I terminate a UCC financing statement?

Visit your secretary of state’s office. To do so you will generally need to make a trip in person down to your secretary of state’s office. Once there, you will be able to swear under oath that you’ve satisfied the debt in full and wish to request for the UCC-1 filing to be removed.

What is a UCC-1 308?

UCC 1-308 states: A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by the other party does not thereby prejudice the rights reserved. Such words as “without prejudice,” “under protest,” or the like are sufficient.

What is a UCC filing Michigan?

UCC Overview Uniform Commercial Code law governs commercial transactions. Article 9 of the Uniform Commercial Code designates the office of the Secretary of State for the filing and searching of secured transaction documents.

Which type of transactions are covered by Article 2 of the UCC?

Article 2 of the U.C.C. deals with transactions involving the sale of goods. Article two only covers the sale of goods. This is important to keep in mind.