How to Terminate a UCC

By Sampson Quain

A Uniform Commercial Code (UCC) lien is a commercial lien that helps a bank or lender protect its financial risk when making loans to businesses. A UCC statement is filed with the secretary of state's office in the state where the loan is approved. This statement provides the terms of the loan, including the name of the debtor and the collateral involved with the transaction. After a loan is paid, a lender must file a specific form that officially terminates the UCC.

Obtain an UCC-3 form from the secretary of state's website for your state. These forms are usually available as a PDF download.

Complete section B with your name and address, which requests that an acknowledgment be sent to you, then type in the initial financing statement file number.

Check the box next to "TERMINATION," then indicate whether this amendment to the UCC filing affects the debtor or the secured party of record (bank or lender).

Check the box next to "Delete name," and enter the debtor company name or the individual's last, first and middle name.

Check the box under the section "Name of secured party or record authorizing this amendment." Enter the name of the debtor authorizing the termination. This is either an organization's name or an individual's last, first and middle name.

Print the form and place it an envelope. Obtain the filing office address from the secretary of state's website and the filing fee. Mail the termination notice and the appropriate payment (check or money order).

About the Author

Sampson Quain is a screenwriter and filmmaker who began writing in 1996. He has sold feature and television scripts to a variety of studios and networks including Columbia, HBO, NBC, Paramount and Lionsgate. He holds a Master of Fine Arts in screenwriting from the University of Southern California.

Cite this Article A tool to create a citation to reference this article Cite this Article