Practical Law Glossary Item 9-500-7718 (Approx. 3 pages)
Glossary
UCC-3 Continuation Statement
Also known as a continuation statement. The amendment used to extend the effectiveness of a UCC-1 beyond the date which is five years after the date of its filing. The continuation statement should identify the initial UCC-1 to which it relates (UCC §9-102(a)(27)). The continuation statement must be filed within six months before the expiration of the UCC-1 (UCC §9-515(d)). When it is filed, it extends the effectiveness of the original UCC-1 for an additional five years from the date that the UCC-1 would have expired (UCC §9-515(e)). Further continuation statements can be filed to continue the effectiveness of the initial UCC-1 filing.