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1. When was the Uniform Commercial Code revised?

The Uniform Commercial Code Article 9 was revised effective July 1, 2001. The major changes are that only the financial statements that will be filed in the local Register of Deeds office are those in which the collateral is as-extracted collateral, timber to be cut, or fixtures. In addition, the filing fees have increased.

2. What types of UCCs are filed at the local Register of Deeds office as a result of Revised Article 9?

Financing statements filed locally are an initial financing statement for fixture filings (related to real property) and an amendment (continuation, assignment, termination) of that same record. If a fixture filing financing statement was filed at the local Register of Deeds office prior to July 1, 2001, a termination of that record will also be filed locally. All other financing statements will be filed at the Secretary of State.

3. What are the new filing fees for UCCs?

Filing fees for initial financing statements, correction statements, and all amendments, including terminations are as follows:
- One or Two Pages $38
- Three to ten pages $45
- Over ten pages $45 plus $2 per page over ten

Fees for providing information (UCC-11) on UCCs filed before July 1, 2001:
- $30 per name searched
- $1 per copy provided

4. To whom can I direct my additional questions regarding the Revised Article 9?

For the latest information, you may go to the Secretary of State's website.