How do I file a UCC-1 in Delaware?
Electronic UCC filings may be submitted directly to the Division via the State’s e-UCC web application or through a variety of UCC XML submitters. Paper filings may be submitted through an Authorized UCC Filer who will submit the filing electronically to the Division.
How do I file a UCC-1 financing statement?
You should file a UCC-1 Financing Statement with the secretary of state’s office in the state where the debtor is incorporated or located. If the collateral is real property, then you should also file a UCC-1 with the county recorder’s office in the county where the debtor’s real property is located.
How long do UCC filings last in Delaware?
five years
What is an UCC filing expiration? The UCC’s normal rule is that a financing statement remains valid for a period of five years from the date of filing. Unless a continuation statement is properly filed before expiration of the five year period, the effectiveness of the financing statement will lapse.
What’s the difference between a UCC-1 and UCC3?
A UCC3 is a change statement to a UCC1. It’s an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It’s a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.
What is the purpose of a UCC-1 financing statement?
In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor’s personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
Has Delaware adopted the UCC?
Delaware has adopted the following Articles of the UCC: Article 3: Negotiable instruments: UCC Article 3 applies to negotiable instruments. It does not apply to money, to payment orders governed by Article 4A, or to securities governed by Article 8.
How do I find my UCC filings in Delaware?
You can find Uniform Commercial Code information on any person or corporation in Delaware or other states by performing a search on the UCC website of the state or territory where the person resides or the corporation is registered.
Do UCC 1s expire?
A UCC-1 filing is good for five years. After five years, it is considered lapsed and no longer valid. Should your debtor remain in debt to you and encounter financial difficulty or file for bankruptcy, you have no secured interest if your UCC-1 filing has lapsed.
How do I file a UCC paper in Delaware?
Paper filings may be submitted through an Authorized UCC Filer who will submit the filing electronically to the Division. Delaware is providing to you a list of Authorized UCC Filers within the State who will continue the reputation Delaware strives to maintain.
What are the changes to the Delaware Division of corporations?
Effective December 1, 2015, the Delaware Division of Corporations will modify the acceptable methods of communication authorized by the filing office for the acceptance of Uniform Commercial Code (UCC) filings. The Division will require that all UCC filings be submitted to the Division electronically.
Which UCC form should I use?
Effective July 1, 2001, the National Standard Form will be the only UCC form acceptable. The following forms are PDF files which require Acrobat Reader to view. PLEASE NOTE – DOWNLOADING UCC FORMS WILL TAKE YOU DIRECTLY TO THE IACA WEBSITE.
How do I file an e-UCC?
Electronic UCC filings may be submitted directly to the Division via the State’s e-UCC web application or through a variety of UCC XML submitters. Paper filings may be submitted through an Authorized UCC Filer who will submit the filing electronically to the Division.
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