The UCC-1 form in Louisiana plays a crucial role in the realm of secured transactions, serving as a foundational document for establishing a security interest in personal property. This financing statement is essential for both debtors and secured parties, as it publicly records the details of the debt and the collateral involved. The form requires precise information, including the exact legal names of the debtor or debtors, their mailing addresses, and relevant tax identification numbers. It also specifies the secured party's information, ensuring that all parties involved are clearly identified. Additionally, the UCC-1 form allows for the description of the collateral, which can range from vehicles to various types of goods. Notably, it includes options for indicating if the debtor is a transmitting utility or if the filing is associated with a public finance transaction. By completing this form accurately, debtors and secured parties can protect their interests and establish a clear priority in the event of default. Understanding the nuances of the UCC-1 form is vital for anyone engaged in secured lending or borrowing in Louisiana.