Instructions for Form UCC1 Ucc Financing Statement Non-subscriber - South Dakota

This document contains official instructions for Form UCC1 , Ucc Financing Statement Non-subscriber - a form released and collected by the South Dakota Secretary of State.

FAQ

Q: What is Form UCC1?A: Form UCC1 is a financing statement filed to establish a creditor's security interest in personal property.

Q: Who can file Form UCC1?A: Any individual or business who has a security interest in personal property can file Form UCC1.

Q: What is a non-subscriber?A: A non-subscriber refers to an individual or business who is not a subscriber to the South Dakota UCC Central Indexing System.

Q: What is a UCC financing statement?A: A UCC financing statement is a legal document that provides notice of a secured party's interest in the personal property of a debtor.

Q: What information is required on Form UCC1?A: Form UCC1 requires the debtor's name and address, the secured party's name and address, and a description of the collateral being pledged as security.

Q: What is the filing fee for Form UCC1?A: The filing fee for Form UCC1 in South Dakota is $20 for the first debtor, and $15 for each additional debtor.

Q: How long is a UCC financing statement effective?A: A UCC financing statement is effective for a period of five years from the date of filing.

Q: Can a UCC financing statement be renewed?A: Yes, a UCC financing statement can be renewed by filing a continuation statement before the original statement expires.