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Form EFS-3 Financing Statement - South Dakota
What Is Form EFS-3?
This is a legal form that was released by the South Dakota Secretary of State - a government authority operating within South Dakota. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form EFS-3?
A: Form EFS-3 is a Financing Statement used in South Dakota.
Q: What is a Financing Statement?
A: A Financing Statement is a legal document used to give notice of a security interest in collateral.
Q: Who uses Form EFS-3?
A: Form EFS-3 is used by lenders and other creditors to claim a security interest in collateral.
Q: What is collateral?
A: Collateral is property or assets that are pledged as security for a loan.
Q: Why is it important to file a Financing Statement?
A: Filing a Financing Statement creates a public record of a security interest and establishes priority among competing claims.
Q: Is there a fee to file Form EFS-3?
A: Yes, there is a fee to file Form EFS-3. The fee varies depending on the type of collateral and the filing method.
Q: Are there any specific requirements for completing Form EFS-3?
A: Yes, there are specific requirements for completing Form EFS-3, including providing a description of the collateral and the debtor's information.
Q: What happens after filing Form EFS-3?
A: After filing Form EFS-3, the information becomes part of the public record and can be searched by interested parties.
Q: Can Form EFS-3 be amended or terminated?
A: Yes, Form EFS-3 can be amended or terminated by filing the appropriate amendment or termination form with the South Dakota Secretary of State.
Form Details:
- Released on November 1, 2017;
- The latest edition provided by the South Dakota Secretary of State;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form EFS-3 by clicking the link below or browse more documents and templates provided by the South Dakota Secretary of State.
