A "UCC-1 Financing Statement" is used to let the public know that a "security agreement" has been made on personal property. To remove this statement from the public record, a "termination statement" must be filed with the "secretary of state".
These are questions that the above text answers:
1. What is the purpose of a UCC-1 Financing Statement?
2. What does a UCC-1 Financing Statement indicate to the public?
3. What type of property does a UCC-1 Financing Statement pertain to?
4. How can a UCC-1 Financing Statement be removed from the public record?
5. What is the role of a termination statement in relation to a UCC-1 Financing Statement?
6. Where should a termination statement be filed to remove a UCC-1 Financing Statement?
7. Who is responsible for filing a termination statement?
8. What is the function of the secretary of state in relation to a UCC-1 Financing Statement?
9. What is the purpose of filing a termination statement with the secretary of state?
10. What happens if a termination statement is not filed to remove a UCC-1 Financing Statement?