UCC FILING DEFINED / GENERAL INFORMATION

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• The purpose of a UCC filing is produce evidence that a debtor and a secured party intend to engage in or have engaged in a secured transaction using specified collateral as security.

• In January of 1990, Louisiana adopted the Uniform Commercial Code. This statewide notification system replaced Louisiana's chattel mortgage laws and for the first time provides lenders with statewide information regarding liens on movable, personal property.

• As the last state to adopt the UCC, Louisiana was fortunate to implement a filing system that benefited its users by allowing the filing of financing statements with any of the 64 parish filing offices.

• The Uniform Commercial Code is a model statute covering things such as the sale of goods, credit, bank transactions, conduct of business, warranties, negotiable instruments, loans secured by personal property and other commercial matters. All states have adopted and adapted the entire UCC, with the exception of Louisiana, which only adopted parts of it.

• It is only necessary to file in one parish to properly perfect a security interest, notwithstanding the location of the collateral, or the location of debtor.

• The Secretary of State is not authorized to accept UCC filings directly - except through the e-Recording system with accounts through the Secretary of State.

 

INFORMATION NEEDED TO FILE UCC-1, UCC-1F (Farm filing) UCC-3, UCC-3F 

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• Give the debtor's name and address. If additional debtor, there is an additional $10 per additional debtor.

• Farm filings must have the social security number or tax identification number.

• Give the secured party name and address.

• A description of the collateral.

• A fixture filing requires an additional $10 fee (current state or national forms are accepted.)

• If a non-standard form, there is an additional amount charged.

• A financing statement is effective for a period of five years from the date of filing.

• A public financing transaction is effective for thirty years. Check fee schedule for an additional amount.

• A transmitting utility has no expiration date. Check fee schedule for additional amount.

• With in 2 business days the Secretary of State will send a confirmation to the debtor and secured party.

• Before the five years ends you must file a continuation with in a 6 month period before the expiration date.

• UCC 3 forms are used to file continuation, terminations, amendments, etc.

• If there was an error in the original filing an amendment must be filed.  The original file number is required to file the UCC-3 and UCC-3F or any additional information regarding a specific UCC.

• If there is a new assignee, an assignment must be filed.

 

INFORMATION NEEDED FOR A SEARCH:

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• Name of person or business exactly as you want the search.

• Contact information of person and/or business requesting the search.