News Items from UCC
East Baton Rouge UCC Procudure Change
Category: UCC | Posted on 08/15/2008
Recording Procedures Change for East Baton Rouge, LA
As of July 14, 2008 each document mailed to East Baton Rouge Parish Clerk of Court must include a completed copy of the "Recording Instruction Sheet". This change is in conjuction with the live activation of the new digital imaging system. All information on the Recording Instruction Sheet must be completed. Pay special attention to the Recording Instructions header where you must check the category of records into which you wish your document recorded. Images are viewable through the subscription based "Online Access Services".
Visit the East Baton Rouge Clerk of Court website for more information. If you have any questions, please email us or call us at (800) 826-5256.
Nebraska UCC Law Revised
Category: UCC | Posted on 08/15/2008
Nebraska UCC Law Amendment will now go into effect September 2009, not July 2008.
Approved by Governor Heineman on March 19, 2008, law LB 851 revises UCC 9-506(b). Now to go in effect September 2009, the law amends that if a debtor is an individual correctly stating only the last name on the original financing statement is sufficient. First and middle names are now meaningless. This now puts a huge burden on UCC searchers. Searchers will have to review every financing statement that provides the same last name. "The intent of the law is to provide secured parties with greater certainty that errors or omissions on an individual's debtor's first or middle name (initial) would not make the financing statement seriously misleading."
For more information visit Nebraska's legislative site.
Kentucky UCC Acknowledgement Procedure to Change
Category: UCC | Posted on 07/30/2008
Effective August 1, 2008 Kentucky changes UCC acknowledgement procedure. To help reduce costs, the Kentucky Secretary of State Office is modifying the UCC acknowledgement process. Currently, customers who complete Box B on the UCC Financing Statement receive a mailed copy of the original UCC filing. Since a redacted version of all filings is available online, customers now completing Box B will be mailed a postcard acknowledgement as receipt of the filing. Customers are encouraged to view the filing online. Beginning August 1, original documents will no longer be returned.
The acknowledgement postcard will include:
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A visual copy of the first page of the record image (redacted for security).
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The web address where the filing can be viewed online.
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The file date and time; original file date and time and filing status.
Attention! Utah Changes Hours of Operation
Category: UCC | Posted on 07/16/2008
Please be advised that beginning Monday, August 4, 2008 the 'Working 4 Utah' initiative will be implemented. This program will extend state government service hours from 7:00 a.m. to 6:00 p.m., Monday through Thursday, with offices closed on Fridays. Governor Jon Huntsman states the goal is to "conserve energy, save money, improve our air quality, and enhance customer service."
New hours of operation as of Monday, August 4, 2008:
Monday - Thursday, 7:00 a.m. to 6:00 p.m.
Closed on Fridays
UCC filings and searches may be submitted online at any time 24/7/365
For more information, click here. If you have any questions about this information, please contact NCS by phone at (800) 826-5256 or email.
Washington State - UCC Filing Fees to Increase
Category: UCC | Posted on 05/09/2008
Please be advised that effective June 12, 2008, Fees for Washington State's UCC services will increase.
For more information visit Washington Secretary of State's website.
Tennessee Law Amendment Now in Effect
Category: UCC | Posted on 05/07/2008
On March 5th Senate Bill 3732 amended Tennessee UCC 9-503(a). The new law took effect May 1, 2008. The bill provides that an individual name is sufficient for the UCC Financing Statement if the name is shown on one of these 6 documents: driver's license, state ID card, birth certificate, passport, social security card and military ID card. Again, a huge burden has been put on the searching process. It is vital that the names provided on every one of these government-issued documents be searched to reduce risk of missing an effective record.
For more information visit Tennessee's legislative site, Public Chapter No. 648.
Strategic Ways to Incorporate Security Agreements
Category: UCC | Posted on 05/01/2008
Taking a secured interest in your customers' collateral brings numerous benefits. Learn what considerations should be made to approach customers for them to extend these benefits to you.
Nebraska UCC Law Revised
Category: UCC | Posted on 04/18/2008
Nebraska UCC Law Amendment goes into effect July, 2008
Approved by Governor Heineman on March 19, 2008, law LB 851 revises UCC 9-506(b). Effective July, 2008, the law amends that if a debtor is an individual correctly stating only the last name on the original financing statement is sufficient. First and middle names are now meaningless. This now puts a huge burden on UCC searchers. Searchers will have to review every financing statement that provides the same last name. "The intent of the law is to provide secured parties with greater certainty that errors or omissions on an individual's debtor's first or middle name (initial) would not make the financing statement seriously misleading."
For more information visit Nebraska's legislative site.
Important UCC law change!
Category: UCC | Posted on 02/01/2008
Texas Update for the Articles of Incorporation Texas continues its tradition of pioneering changes to the UCC law. Click below to read what is new and what may be coming to your state.
How to Secure Your Accounts Receivable and Keep Your Customers
Category: UCC | Posted on 03/19/2007
It happens every day. Credit managers face a conundrum: how to protect your accounts receivable without alienating your customers. Whether dealing with commercial sales or protracted construction projects, the laws are specific about the steps required to ensure payment...but credit managers often fear sending the wrong message to their customers by taking those very steps. After all, won't a general contractor interpret a notice sent to the owner as an insinuation of a possible lack of pay? Won't a customer interpret the filing of a UCC as a comment upon their creditworthiness?