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(UNIFORM COMMERCIAL CODE)
 
The revised Article 9 of General Statute 25 became effective on July 1, 2001. Please note the following changes affecting UCC fillings:
 
•Only fixture fillings are accepted for filling at the County level (Register of Deeds). Fixture fillings are now assigned a book and page number and indexed with Consolidated Real Property documents.
 
•Since the UCC image will be accessible, no paper copies will be retained by our office.
 
•All other UCC fillings must be recorded with the Secretary of State.
 
•A new national UCC form or facsimile should be used for fillings. UCC forms are available for download via the Secretary of State web page.
 
•Existing UCC-1 files already on record will be maintained until June 30, 2008. Fixture filings can be renewed with the new national form or facsimile. All non-fixture filings should be re-filed with the Secretary of State before July 1, 2002 in order to retain perfection. No amendments to existing non-fixture filings will be accepted at the County level (amendments include releases, assignments, continuations, and terminations) after July 1, 2001.
 
A UCC is a security agreement on property that is recorded to protect the lender’s, or secured party’s, investment. In a security agreement, a loan of money is secured by property as collateral, thereby giving the lender rights in the property.
 
There are three primary types of UCC filings as described below:
 
UCC-1: Financing Statement
 
The UCC-1 is an initial filing of a financing statement. According to General Statue 25-9-402, a financing statement must contain the following information:
 
•Secured party’s name and address
•Debtor’s name and address
•Statement indicating types and /or descriptions of collateral
 
UCC-3: Financing Statement Change
 
 
The UCC-3 (amendment) is used for five kinds of secondary statements:
 
•Continuation of a financing statement
•Termination of a financing statement
•Assignment of a secured party’s right under a financing statement
•Changes to a financing statement
•Release of part (or all) of the collateral covered by a financing statement
 
UCC-11: Request for Information on Copies
 
The UCC-11 is a request for information on a particular debtor, yielding any active financing statements or assignments only. UCC filings prior to July 1, 2001 are searchable via the Rutherfordton County records. New fixture filings will continue to be indexed on the retrieval system.
 
Fee and Payment Information
 
Fees for UCC recordings are as follows:
 
UCC-1 $38, 45 if greater than 2 pages +$2/page over 10 page
UCC-3 $38, 45 if greater than 2 pages +$2/page over 10 page
UCC-11 $30, per debtor name +$1/page for copies
Termination (Amendment) $38