Article 9 Financing Statement Against An Interest In A Cooperative Unit Effective Until June 30,2006 Without Cooperative Addendum (UCC1CAD)
(MINEOLA – June 19, 2006) PLEASE NOTE: A financing statement filed under Article 9 against an interest in a cooperative unit, which was to remain in effect until it was terminated, will only be effective until June 30, 2006 unless a Cooperative Addendum (UCC1CAD) is filed in connection with that financing statement. The Cooperative Addendum renders the initial financing statement effective for fifty years.
For a new financing statement being filed against an interest in a cooperative unit, filing a Cooperative Addendum with the Financing Statement makes the filing effective for fifty years.
You may wish to contact you legal advisor if you have additional questions related to Article 9 UCC changes. For more information and details, visit the New York State Department of State website: http://www.dos.state.ny.us/corp/uccperfection.html.