Uniform Commercial Code (UCC)

Uniform Commercial Code (UCC)

The UCC Financing Statement-UCC-1 is security agreement on personal property that is recorded to protect the lender or secured party's investment. In the security agreement, a loan of money is secured by personal property as collateral, thereby giving the lender rights to the property.

Filing a UCC

Pursuant to NCGS Chapter 25-Article 9

Effective July 1, 2001, UCC filing statements whose collateral includes fixtures, timber to be cut, or as-extracted collateral will be filed in local Register of Deeds Offices.

All non-fixture UCC filings must be filed in the North Carolina Secretary of State’s Office Code Division in Raleigh. Only original UCCs and amended UCCs will be filed with the Secretary of State’s Office, unless the UCC or amendment form indicates that the document is to be filed in the real estate records of the local filing office and meets all requirements of Revised Article 9. For more information go to www.ncsos.gov or call (919)-807-2111.

Local Register of Deeds Offices will no longer perform searches for UCC filings or required to maintain UCC records or indexes filed after June 30, 2001. Public record searches for UCCs filed after this date are available at www.forsythdeeds.com.

A UCC-1 filing statement can be rejected by a local office if it does not have the following information:

• Secured party's name and address
• Debtor's name and address
• Description identifying real property related and collateral
• No filing fees