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Collateral Change Field on a UCC Amendment

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Question: 
I have a question regarding the Collateral Change field on a UCC Amendment. If the "Restate Covered Collateral" box is checked, does this intend to replace all prior collateral descriptions?
Answer: 

It normally totally replaces the previous collateral description. But you really need to check the instructions for your State's forms.

First published on 11/26/2017

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