Answers to Common UCC Filing Questions Series: Part FourUCC
This month, First Corporate Solutions decided to take to the blog to answer a few of our most commonly asked questions regarding UCC filings. Each week we have been posting 2-3 questions posed by First Corporate Solutions customers and prospects. This week represents our final blog post in the UCC Filing Questions Series.
Here are this week’s questions and answers:
Question: I’ve noticed that some states insert zeroes or a filing year in front of the filing number when they index it, so the number on my acknowledgement copy does not match what they have in their records. When preparing a UCC3, is it safer to mirror the filing office’s stamp, or conform to the state’s indexed format?
Answer: In most cases, mirroring the formatting from the filed UCC1 document will allow your document to be filed. If you are in doubt, try consulting the state’s website for tips on how to format the original file number.
Question: The UCC Financing Statement form asks me to fill in an organizational ID for my debtor. What is an organizational ID number?
Answer: Many state filing offices assign a business entity a registration number upon filing of their articles of incorporation or other organizing documents. In these states, the filing office places the organizational ID (typically via stamp or sticker) on the filed copy of the documents much like a filing number for a UCC filing. Reproductions of these documents will include the organizational ID.
Please note some states do not issue an organizational ID for a registered business. When preparing a UCC Financing Statement on a business debtor for filing in these states, you can check the box that states “none” in item 1g on the form.