UCCs are effective for 5 years in most states. After that time is up, the filing will lapse and will no longer be effective for securing the interest of the collateral.

If after 5 years, the debtor loan is not paid off, and the UCC needs to remain in effect, an amendment to continue the effectiveness for another 5 years would need to be completed in the same jurisdiction as the original UCC is filed.

The correct filing office depends on the location of the debtor, and at times the location of the collateral being secured. Typically for a business the filing is done in the state where the company is registered, and for an individual, where they physically reside.

If the collateral is real property, then a filing at the local county level where the property is located is necessary.

A search conducted after the UCC has been recorded in the proper jurisdiction, to ensure that the filing appears as it should in the index. If the UCC is not revealed in a search that complies with standard RA9 search logic, it could be considered seriously misleading and put the secured party position at risk.

A continuation that needs to be filed for a UCC that was originally filed at the county level or in another state, an “in lieu of” filing needs to be recorded. Using the initial UCC form it will cross reference the prior filing, possibly even have it attached as an exhibit for clarity.

The purpose of filing a UCC is to give notice to the public that a secured party or creditor may have interest in the personal property of a debtor. The property is being used as collateral within the security agreement between involved parties.

• If filing against an individual, what information needed is:
  • Last name, first name
  • Mailing address, city, state, zip code and country.
• If filing against a business, what information needed is:
  • Company name
  • Mailing address, city, state, and zip code
• For the secured party, what information needed is:
  • Company name OR individual’s Last name, first name
  • Mailing address, city, state and zip code

There are National UCC Forms available for use that have been created and approved by IACA, however some states have special forms or requirements needed for filing, so be sure to review the UCC filing instructions for each state prior to recording.

No, UCC filings (UCC-1 or UCC-3) no longer require a signature in order to be recorded.