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UCC Article 9 – Indexing of Secured Party Names with Titles in Washington, DC

When filing UCCs in Washington, DC, we’ve experienced a few challenges with the incorrect indexing of names, etc.  We are not alone in this struggle, as the District of Columbia has often been referred to as “the worst indexing system in the country.”  While we’re pretty sure the folks at the DC Recorder of Deeds (ROD) didn’t intend for this to be the case, we’ve become accustomed to it and double check to ensure proper indexing of UCCs we file. Recently we ran into an issue we were sure was an error, which prompted us to do some digging, and we learned something new.

After filing a UCC1 financing statement with the DC ROD, our client requested a post-filing UCC search (search to reflect) to confirm both the indexing of the debtor and secured party names. The UCC1 listed the Secured Party as “ABC123, NA, as Agent” on the filing.  The client intended to have the entire name of the secured party indexed in the ROD’s records.  However, when searched, we found it was not indexed as submitted.  We questioned what happened to the “as Agent” language in the secured party name.  The DC ROD stated “as Agent” is considered a title, per their general indexing guidelines (not made available to the public).  As a result, they can and had excluded the words in the indexing of the name.

We questioned the legality of this indexing rule and informally reached out to Norman Powell, of Young Conaway Stargatt & Taylor, LLP to ask his opinion on the matter. Norman Powell is considered the “go-to guy” for UCC matters, having authored various articles and presented many educational seminars on the topic of secured transactions. Mr. Powell agreed there was a bit of ambiguity in “capturing information as rendered in a filing and as prescribed by the rules consistent with Article 9.”  He further went on to say unlike names of debtors, secured party names are not subject to the strict “search logic test” made applicable by 9-506.   The secured party’s agency capacity is “purely optional and would not affect the effectiveness of the financing statement.”

So, in this case of the missing “as Agent”, we’ve learned this was not another “indexing error”, but rather the DC ROD truly was not required to include the title in the name of the secured party when indexing the name.

For questions about or assistance with filing or searching UCCs in Washington, DC, feel free to reach out to us.

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Where to File UCCs in Washington, DC

Deirdre Davis-Washington, Assistant Vice President of Branch Operations in Washington, DC was recently asked about UCC searches and where to search and subsequently file in the District of Columbia. Deirdre shared this brief but valuable description:

Security interest filings in Washington, DC are filed with the Recorder of Deeds (ROD). Washington, DC UCC Filings If you have a UCC against real property, better known as a “fixture filing”, this would be filed in the land records of the ROD, while others are found in the “chattel” records (yes, DC still uses the word chattel).   You may also search for tax liens and judgments at the ROD.

The District has also be known to be the default place for filing of UCC’s against foreign entities doing business in the US.  Not sure where the company is doing business?  Just try searching the DC Recorder of Deeds!

For assistance in Washington, DC with UCC searching or filing or to learn more about any of the services available from our office, contact our DC office directly via email to dcorders@incserv.com.

The information within this post is intended for general information purposes only. Incserv and its employees cannot offer legal or financial advice. Please consult with your legal counsel for assistance in how this information may or may not affect you and your business prior to making any decisions. The above information (and any attachments) should be judged accordingly.

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Where to File UCCs in Washington, DC

Where to File UCCs in Washington, DC

Deirdre Davis-Washington, Assistant Vice President of Branch Operations in Washington, DC was recently asked about UCC searches and where to search and subsequently file in the District of Columbia. Deirdre shared this brief but valuable description:

Security interest filings in Washington, DC are filed with the Recorder of Deeds (ROD).  If you have a UCC against real property, better known as a “fixture filing”, this would be filed in the land records of the ROD, while others are found in the “chattel” records (yes, DC still uses the word chattel).   You may also search for tax liens and judgments at the ROD.

flag_map_of_washington_dc

The District has also be known to be the default place for filing of UCC’s against foreign entities doing business in the US.  Not sure where the company is doing business?  Just try searching the DC Recorder of Deeds!

For assistance in Washington, DC with UCC searching or filing or to learn more about any of the services available from our office, contact our DC office directly via email to dcorders@incserv.com.

The information within this post is intended for general information purposes only. Incserv and its employees cannot offer legal or financial advice. Please consult with your legal counsel for assistance in how this information may or may not affect you and your business prior to making any decisions. The above information (and any attachments) should be judged accordingly.

Cullan No Comments

DE Amends Current UCC Law

delawareIncorporating Services, Ltd. (Incserv) is an active member of the National Public Records Research Association (NPRRA). One of the many benefits of this membership is the continuous flow of information from other members regarding changes in policy, law and processing of public records searching and filing across the US.

The NPRRA released this notice on August 2nd regarding Delaware’s amendment to the current law with regards to a statutory trust. Please see below and attached:

Delaware Senate Bill 276 was signed into law by Delaware Governor Jack Markell on July 13, 2016. The bill amends current law to define and include a statutory trust as a person under the Uniform Commercial Code. The bill became effective August 1, 2016.

Please click here to view the entire bill.

Should you need assistance with Delaware filings, feel free to contact us or call 800-346-4646.

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DE Amends Current UCC Law

DE Amends Current UCC Law

delaware

Incorporating Services, Ltd. (Incserv) is an active member of the National Public Records Research Association (NPRRA). One of the many benefits of this membership is the continuous flow of information from other members regarding changes in policy, law and processing of public records searching and filing across the US.

The NPRRA released this notice on August 2nd regarding Delaware’s amendment to the current law with regards to a statutory trust. Please see below and attached:

Delaware Senate Bill 276 was signed into law by Delaware Governor Jack Markell on July 13, 2016. The bill amends current law to define and include a statutory trust as a person under the Uniform Commercial Code. The bill became effective August 1, 2016.

Please click here to view the entire bill.

Should you need assistance with Delaware filings, feel free to contact us or call 800-346-4646.

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Oregon Individual Debtor Name Requirement

Eforegonfective January 1, 2016, under Oregon Senate Bill 462, the name of an individual debtor listed in a Uniform Commercial Code (UCC) filing, will need to match the debtor’s name on their Oregon driver’s license or Oregon-issued state ID card.

Beginning January 1, the requirement takes effect for all new UCC-1s filed. Existing valid UCCs remain in effect until continued or no later than January 1, 2021. To read SB 462 in full, click here.

If you have any questions or concerns, please feel free to contact us!
Thanks for Reading,

Gennine

Gennine Cooper is a Marketing Associate in our Dover, Delaware office. To learn more about Gennine read her bio here.

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Delaware UCC Paper Filing Change

Effective December 1, 2015, the Delaware Division of Corporations (the Division) will no longer accept Uniform Commercial Code (UCC) paper filings submitted directly to the Division via mail, courier or fax. Filers will be required to utilize an authorized UCC Filing Agency for paper filings or file electronically via XML or the State’s e-UCC web application.

Incserv is a State authorized UCC Filing Agency and is ready to assist you with your UCC filing needs. If you have questions or need help filing, contact Incserv today!

Thanks for reading,
Gennine

Gennine Cooper is a Marketing Associate in our Dover, Delaware office. To learn more about Gennine read her bio here.

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UCCs in Delaware

ThDelawaree Delaware Division of Corporations (the Division) continues to work diligently to resolve issues stemming from the major system conversion they underwent on September 3rd.

The current thru date for Uniform Commercial Code (UCC) filings in Delaware is still September 7th, as Routine (Priority 7) filings submitted after this date have not yet been processed by the Division and there is a significant backlog of UCC e-filings. In addition, the Division is not confident at this time all other UCC’s have been completed properly, as there is an issue with some new filings showing as lapsed, skewing search results.

The Division is working overtime to resolve these issues, but regrettably they anticipate the UCC thru date to remain the same for quite some time.

We will continue to keep you posted as we receive information.

If you have any questions or concerns, please feel free to reach out to us!

Thanks for reading,

Rose

Rose Redman is the Process Design Leader in our Dover, Delaware office. To learn more about Rose read her bio here.

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Pennsylvania’s BCCO is Experiencing Technical Problems

paPennsylvania Bureau of Corporations and Charitable Organizations (BCCO) recently upgraded their corporate document filing system in an effort to improve processes and better assist their customers. It’s been a rough transition and unfortunately, they’re still experiencing a few technical issues. Please be aware during this transition period certain services may or may not be available as they were before the conversion. However, the BCCO is aware of all problems at this point and is diligently working to resolve them. Known for its outstanding customer service, the BCCO is fully committed to ensuring all service returns to normal as quickly possible. If you have any questions or concerns about Corporate and UCC filings, searches or retrievals in Pennsylvania during this time, please feel free to reach out to us. For more information and up-to-date status directly from the BCCO, click here.
Gennine Cooper is a Marketing Associate in our Dover, Delaware office. To learn more about Gennine read her bio here.

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New Jersey New UCC Filings Requirement

Effective July 1, 2015, the New Jerseystate of New Jersey will require all UCC filings to be submitted electronically. Any paper UCC filings submitted to New Jersey will be rejected on or after July 1, 2015, unless an exemption is received from the New Jersey Division of Revenue and Enterprise Services. New Jersey may allow a paper UCC filing if the submitter can demonstrate filing electronically would impose an undue hardship on the submitter.

If you have any questions or concerns about the change, please feel free to reach out to us. As always, we are also available to assist you with all UCC filings in New Jersey, as well as other state and county jurisdictions.

Thanks for reading,
John

John Cereghin is a Senior Client Services Representative in our Dover, DE headquarters. To learn more about John, read his bio here.