Statement Of Continuation And Termination {CNS-3}

CNS-3 - EFFECTIVE FINANCING STATEMENT/STATUTORY LIEN STATEMENT OF CONTINUATION AND TERMINATION. This form is used in Minnesota to manage the status of an Effective Financing Statement (EFS) or a Statutory Lien Notice. This form serves two primary purposes: continuation and termination. The continuation section is used to extend the validity of an existing Effective Financing Statement for an additional five years, provided it is filed within six months before the expiration date. Both the debtor and the secured party must sign the continuation statement or indicate that signatures are on file. The termination section is used when the secured party or lienholder no longer claims an interest under the original filing. The form requires the secured party to list the date on which the security interest or lien was satisfied. Additionally, the form allows for amendments when necessary. Once completed, the document is filed with the Minnesota Secretary of State. www.FormsWorkflow.com