The Montana Secured Party/Security Interest Form is used to establish or terminate a secured party or security interest in a liquor license. This form is necessary when a borrower/debtor and lender/secured party enter into a security agreement related to a liquor license. It is used for securing interest or rights in a liquor license, which could involve the creation, modification, or removal of a claim to the license. Depending on the type of transaction, a processing fee is required, and the form must include all required documentation verifying the security interest.
How to File the Montana Secured Party/Security Interest Form?
To file this form, complete the relevant sections based on whether you are adding or terminating a secured party or security interest. Ensure that all parties involved sign the form and provide the necessary contact details. Attach required documents that substantiate the security interest, such as the security agreement and promissory note, where applicable. Depending on the type of transaction, a processing fee may be required. Submit the completed form and any necessary documents to the Montana Department of Revenue at the designated address.
How to Complete Montana Secured Party/Security Interest Form
1. Borrower/Debtor Information
- Name of Borrower/Debtor: Enter the full legal name of the borrower or debtor who is seeking the loan or line of credit secured by the liquor license.
- Address: Provide the complete address of the borrower, including street, city, state, and zip code.
2. Lender/Secured Party/Security Interest Information
- Name of Lender/Secured Party/Security Interest: Enter the full legal name of the lender, secured party, or entity holding the security interest in the liquor license.
- Address: Provide the complete address of the lender or secured party, including street, city, state, and zip code.
3. Additional Details
- License Number: Enter the liquor license number associated with the loan or security interest.
- Business Name (DBA): If applicable, provide the Doing Business As (DBA) name of the business.
- Loan Number: Enter the loan number associated with the liquor license.
- Location Address: Provide the address where the liquor license is located.
4. Affirmation and Signatures
- Secured Party Addition/Removal Request: The form includes a request to either add or remove a secured party/security interest from the liquor license. Check the box that applies to your situation (addition or removal).
- Signatures of Borrower/Debtor and Lender/Secured Party: Both the borrower/debtor and the lender/secured party must sign the form, affirming the correctness of the information and their intent to add or remove the security interest.
- Signature Date: Enter the date when the signatures are made.
- Printed Name: Write the printed names of the borrower/debtor and lender/secured party.
- Email Address and Phone Number: Provide contact information for both parties, including email address and phone number.
5. Fees
- Secured Party Addition Fee: If adding a secured party or security interest, enclose a $50 processing fee. Make the check payable to the “Department of Revenue.”
- Security Interest Addition Fee: For adding a security interest, enclose a $30 processing fee, also made payable to the “Department of Revenue.”
6. Document Attachments
- Required Documents: Attach all documents verifying the security interest, including the security agreement and promissory note, to substantiate the transaction. If the transaction is a termination, no fee is required, but the form must still be completed and signed.
7. Filing Instructions
- Secured Party/Security Interest Addition: After completing the form, send it along with the appropriate fee and required documentation to the Montana Department of Revenue, Liquor Licensing, PO Box 1712, Helena, MT 59624-1712.
- Secured Party/Security Interest Termination: No fee is required for terminating a secured party or security interest. Complete all necessary sections of the form and send it to the same address.