Secretary of State’s ofﬁce is the central ﬁling ofﬁce for certain ﬁnancing
statements and other lien documents provided for in the Uniform Commercial Code.
Filing with the Secretary of State
serves to perfect a security interest in named collateral and establish
priority in case of debtor default or bankruptcy.
active duration for a ﬁnancing statement is ﬁve (5) years, at which time it
lapses unless it is continued. It
remains active in the Secretary of State’s ﬁles for one year after it lapses
and is searchable in its database for that period of time.
To continue the
effectiveness of a ﬁnancing statement for additional ﬁve (5) year periods, the
secured party must ﬁle a Form UCC3, National Financing Statement Amendment,
with the Secretary of State and pay the applicable ﬁling fee, which ranges from
$10.00 to $20.00.
If you have
questions regarding perfection of an interest in personal property or filing,
renewing, or terminating a UCC financial statement, please contact us.
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