9501. (a) Except as otherwise provided in subdivision (b), if the
local law of this state governs perfection of a security interest or
agricultural lien, the office in which to file a financing statement
to perfect the security interest or agricultural lien is either of
the following:
(1) The office designated for the filing or recording of a record
of a mortgage on the related real property, if either of the
following conditions is satisfied:
(A) The collateral is as-extracted collateral or timber to be cut.
(B) The financing statement is filed as a fixture filing and the
collateral is goods that are or are to become fixtures.
(2) The office of the Secretary of State in all other cases,
including a case in which the collateral is goods that are or are to
become fixtures and the financing statement is not filed as a fixture
filing.
(b) The office in which to file a financing statement to perfect a
security interest in collateral, including fixtures, of a
transmitting utility is the office of the Secretary of State. The
financing statement also constitutes a fixture filing as to the
collateral indicated in the financing statement which is or is to
become fixtures.
9502. (a) Subject to subdivision (b), a financing statement is
sufficient only if it satisfies all of the following conditions:
(1) It provides the name of the debtor.
(2) It provides the name of the secured party or a representative
of the secured party.
(3) It indicates the collateral covered by the financing
statement.
(b) Except as otherwise provided in subdivision (b) of Section
9501, to be sufficient, a financing statement that covers
as-extracted collateral or timber to be cut, or which is filed as a
fixture filing and covers goods that are or are to become fixtures,
must satisfy subdivision (a) and also satisfy all of the following
conditions:
(1) Indicate that it covers this type of collateral.
(2) Indicate that it is to be recorded in the real property
records.
(3) Provide a description of the real property to which the
collateral is related sufficient to give constructive notice of a
mortgage under the law of this state if the description were
contained in a record of the mortgage of the real property.
(4) If the debtor does not have an interest of record in the real
property, provide the name of a record owner.
(c) A record of a mortgage is effective, from the date of
recording, as a financing statement filed as a fixture filing or as a
financing statement covering as-extracted collateral or timber to be
cut only if all of the following conditions are satisfied:
(1) The record indicates the goods or accounts that it covers.
(2) The goods are or are to become fixtures related to the real
property described in the record or the collateral is related to the
real property described in the record and is as-extracted collateral
or timber to be cut.
(3) The record satisfies the requirements for a financing
statement in this section other than an indication that it is to be
filed in the real property records.
(4) The record is duly recorded.
(d) A financing statement may be filed before a security agreement
is made or a security interest otherwise attaches.
9503. (a) A financing statement sufficiently provides the name of
the debtor only if it does so in accordance with the following rules:
(1) If the debtor is a registered organization, only if the
financing statement provides the name of the debtor indicated on the
public record of the debtor's jurisdiction of organization which
shows the debtor to have been organized.
(2) If the debtor is a decedent's estate, only if the financing
statement provides the name of the decedent and indicates that the
debtor is an estate.
(3) If the debtor is a trust or a trustee acting with respect to
property held in trust, only if the financing statement satisfies
both of the following conditions:
(A) It provides the name specified for the trust in its organic
documents or, if no name is specified, provides the name of the
settlor and additional information sufficient to distinguish the
debtor from other trusts having one or more of the same settlors.
(B) It indicates, in the debtor's name or otherwise, that the
debtor is a trust or is a trustee acting with respect to property
held in trust.
(4) In other cases, according to the following rules:
(A) If the debtor has a name, only if it provides the individual
or organizational name of the debtor.
(B) If the debtor does not have a name, only if it provides the
names of the partners, members, associates, or other persons
comprising the debtor.
(b) A financing statement that provides the name of the debtor in
accordance with subdivision (a) is not rendered ineffective by the
absence of either of the following:
(1) A trade name or other name of the debtor.
(2) Unless required under subparagraph (B) of paragraph (4) of
subdivision (a), names of partners, members, associates, or other
persons comprising the debtor.
(c) A financing statement that provides only the debtor's trade
name does not sufficiently provide the name of the debtor.
(d) Failure to indicate the representative capacity of a secured
party or representative of a secured party does not affect the
sufficiency of a financing statement.
(e) A financing statement may provide the name of more than one
debtor and the name of more than one secured party.
9504. A financing statement sufficiently indicates the collateral
that it covers if the financing statement provides either of the
following:
(1) A description of the collateral pursuant to Section 9108.
(2) An indication that the financing statement covers all assets
or all personal property.
9505. (a) A consignor, lessor, or other bailor of goods, a
licensor, or a buyer of a payment intangible or promissory note may
file a financing statement, or may comply with a statute or treaty
described in subdivision (a) of Section 9311, using the terms
"consignor," "consignee," "lessor," "lessee," "bailor," "bailee,"
"licensor," "licensee," "owner," "registered owner," "buyer,"
"seller," or words of similar import, instead of the terms "secured
party" and "debtor."
(b) This chapter applies to the filing of a financing statement
under subdivision (a) and, as appropriate, to compliance that is
equivalent to filing a financing statement under subdivision (b) of
Section 9311, but the filing or compliance is not of itself a factor
in determining whether the collateral secures an obligation. If it is
determined for another reason that the collateral secures an
obligation, a security interest held by the consignor, lessor,
bailor, licensor, owner, or buyer which attaches to the collateral is
perfected by the filing or compliance.
9506. (a) A financing statement substantially satisfying the
requirements of this part is effective, even if it has minor errors
or omissions, unless the errors or omissions make the financing
statement seriously misleading.
(b) Except as otherwise provided in subdivision (c), a financing
statement that fails sufficiently to provide the name of the debtor
in accordance with subdivision (a) of Section 9503 is seriously
misleading.
(c) If a search of the records of the filing office under the
debtor's correct name, using the filing office's standard search
logic, if any, would disclose a financing statement that fails
sufficiently to provide the name of the debtor in accordance with
subdivision (a) of Section 9503, the name provided does not make the
financing statement seriously misleading.
(d) For purposes of subdivision (b) of Section 9508, the "debtor's
correct name" in subdivision (c) means the correct name of the new
debtor.
9507. (a) A filed financing statement remains effective with
respect to collateral that is sold, exchanged, leased, licensed, or
otherwise disposed of and in which a security interest or
agricultural lien continues, even if the secured party knows of or
consents to the disposition.
(b) Except as otherwise provided in subdivision (c) and in Section
9508, a financing statement is not rendered ineffective if, after
the financing statement is filed, the information provided in the
financing statement becomes seriously misleading under Section 9506.
(c) If a debtor so changes its name that a filed financing
statement becomes seriously misleading under Section 9506, the
following rules apply:
(1) The financing statement is effective to perfect a security
interest in collateral acquired by the debtor before, or within four
months after, the change.
(2) The financing statement is not effective to perfect a security
interest in collateral acquired by the debtor more than four months
after the change, unless an amendment to the financing statement
which renders the financing statement not seriously misleading is
filed within four months after the change.
9508. (a) Except as otherwise provided in this section, a filed
financing statement naming an original debtor is effective to perfect
a security interest in collateral in which a new debtor has or
acquires rights to the extent that the financing statement would have
been effective had the original debtor acquired rights in the
collateral.
(b) If the difference between the name of the original debtor and
that of the new debtor causes a filed financing statement that is
effective under subdivision (a) to be seriously misleading under
Section 9506, the following rules apply:
(1) The financing statement is effective to perfect a security
interest in collateral acquired by the new debtor before, and within
four months after, the new debtor becomes bound under subdivision (d)
of Section 9203.
(2) The financing statement is not effective to perfect a security
interest in collateral acquired by the new debtor more than four
months after the new debtor becomes bound under subdivision (d) of
Section 9203 unless an initial financing statement providing the name
of the new debtor is filed before the expiration of that time.
(c) This section does not apply to collateral as to which a filed
financing statement remains effective against the new debtor under
subdivision (a) of Section 9507.
9509. (a) A person may file an initial financing statement, an
amendment that adds collateral covered by a financing statement, or
an amendment that adds a debtor to a financing statement only if
either of the following conditions is satisfied:
(1) The debtor authorizes the filing in an authenticated record or
pursuant to subdivision (b) or (c).
(2) The person holds an agricultural lien that has become
effective at the time of filing and the financing statement covers
only collateral in which the person holds an agricultural lien.
(b) By authenticating or becoming bound as debtor by a security
agreement, a debtor or new debtor authorizes the filing of an initial
financing statement, and an amendment, covering both of the
following:
(1) The collateral described in the security agreement.
(2) Property that becomes collateral under paragraph (2) of
subdivision (a) of Section 9315, whether or not the security
agreement expressly covers proceeds.
(c) By acquiring collateral in which a security interest or
agricultural lien continues under paragraph (1) of subdivision (a) of
Section 9315, a debtor authorizes the filing of an initial financing
statement, and an amendment, covering the collateral and property
that becomes collateral under paragraph (2) of subdivision (a) of
Section 9315.
(d) A person may file an amendment other than an amendment that
adds collateral covered by a financing statement or an amendment that
adds a debtor to a financing statement only if either of the
following conditions is satisfied:
(1) The secured party of record authorizes the filing.
(2) The amendment is a termination statement for a financing
statement as to which the secured party of record has failed to file
or send a termination statement as required by subdivision (a) or (c)
of Section 9513, the debtor authorizes the filing, and the
termination statement indicates that the debtor authorized it to be
filed.
(e) If there is more than one secured party of record for a
financing statement, each secured party of record may authorize the
filing of an amendment under subdivision (d).
9510. (a) A filed record is effective only to the extent that it
was filed by a person that may file it under Section 9509.
(b) A record authorized by one secured party of record does not
affect the financing statement with respect to another secured party
of record.
(c) A continuation statement that is not filed within the
six-month period prescribed by subdivision (d) of Section 9515 is
ineffective.
9511. (a) A secured party of record with respect to a financing
statement is a person whose name is provided as the name of the
secured party or a representative of the secured party in an initial
financing statement that has been filed. If an initial financing
statement is filed under subdivision (a) of Section 9514, the
assignee named in the initial financing statement is the secured
party of record with respect to the financing statement.
(b) If an amendment of a financing statement which provides the
name of a person as a secured party or a representative of a secured
party is filed, the person named in the amendment is a secured party
of record. If an amendment is filed under subdivision (b) of Section
9514, the assignee named in the amendment is a secured party of
record.
(c) A person remains a secured party of record until the filing of
an amendment of the financing statement which deletes the person.
9512. (a) Subject to Section 9509, a person may add or delete
collateral covered by, continue or terminate the effectiveness of,
or, subject to subdivision (e), otherwise amend the information
provided in, a financing statement by filing an amendment that does
both of the following:
(1) Identifies, by its file number, the initial financing
statement to which the amendment relates.
(2) If the amendment relates to an initial financing statement
filed or recorded in a filing office described in paragraph (1) of
subdivision (a) of Section 9501, provides the date that the initial
financing statement was filed or recorded and the information
specified in subdivision (b) of Section 9502.
(b) Except as otherwise provided in Section 9515, the filing of an
amendment does not extend the period of effectiveness of the
financing statement.
(c) A financing statement that is amended by an amendment that
adds collateral is effective as to the added collateral only from the
date of the filing of the amendment.
(d) A financing statement that is amended by an amendment that
adds a debtor is effective as to the added debtor only from the date
of the filing of the amendment.
(e) An amendment is ineffective to the extent that it does either
of the following:
(1) It purports to delete all debtors and fails to provide the
name of a debtor to be covered by the financing statement.
(2) It purports to delete all secured parties of record and fails
to provide the name of a new secured party of record.
9513. (a) A secured party shall cause the secured party of record
for a financing statement to file a termination statement for the
financing statement if the financing statement covers consumer goods
and either of the following conditions is satisfied:
(1) There is no obligation secured by the collateral covered by
the financing statement and no commitment to make an advance, incur
an obligation, or otherwise give value.
(2) The debtor did not authorize the filing of the initial
financing statement.
(b) To comply with subdivision (a), a secured party shall cause
the secured party of record to file the termination statement in
accordance with either of the following rules:
(1) Within one month after there is no obligation secured by the
collateral covered by the financing statement and no commitment to
make an advance, incur an obligation, or otherwise give value.
(2) If earlier, within 20 days after the secured party receives an
authenticated demand from a debtor.
(c) In cases not governed by subdivision (a), within 20 days after
a secured party receives an authenticated demand from a debtor, the
secured party shall cause the secured party of record for a financing
statement to send to the debtor a termination statement for the
financing statement or file the termination statement in the filing
office if any of the following conditions is satisfied:
(1) Except in the case of a financing statement covering accounts
or chattel paper that has been sold or goods that are the subject of
a consignment, there is no obligation secured by the collateral
covered by the financing statement and no commitment to make an
advance, incur an obligation, or otherwise give value.
(2) The financing statement covers accounts or chattel paper that
has been sold but as to which the account debtor or other person
obligated has discharged its obligation.
(3) The financing statement covers goods that were the subject of
a consignment to the debtor but are not in the debtor's possession.
(4) The debtor did not authorize the filing of the initial
financing statement.
(d) Except as otherwise provided in Section 9510, upon the filing
of a termination statement with the filing office, the financing
statement to which the termination statement relates ceases to be
effective. Except as otherwise provided in Section 9510, for purposes
of subdivision (g) of Section 9519, subdivision (a) of Section 9522,
and subdivision (c) of Section 9523, the filing with the filing
office of a termination statement relating to a financing statement
that indicates that the debtor is a transmitting utility also causes
the effectiveness of the financing statement to lapse.
9514. (a) Except as otherwise provided in subdivision (c), an
initial financing statement may reflect an assignment of all of the
secured party's power to authorize an amendment to the financing
statement by providing the name and mailing address of the assignee
as the name and address of the secured party.
(b) Except as otherwise provided in subdivision (c), a secured
party of record may assign all or part of its power to authorize an
amendment to a financing statement by filing in the filing office an
amendment of the financing statement which does all of the following:
(1) Identifies, by its file number, the initial financing
statement to which it relates.
(2) Provides the name of the assignor.
(3) Provides the name and mailing address of the assignee.
(c) An assignment of record of a security interest in a fixture
covered by a record of a mortgage which is effective as a financing
statement filed as a fixture filing under subdivision (c) of Section
9502 may be made only by an assignment of record of the mortgage in
the manner provided by law of this state other than the Uniform
Commercial Code.
9515. (a) Except as otherwise provided in subdivisions (b), (e),
(f), and (g), a filed financing statement is effective for a period
of five years after the date of filing.
(b) Except as otherwise provided in subdivisions (e), (f), and
(g), an initial financing statement filed in connection with a public
finance transaction or manufactured home transaction is effective
for a period of 30 years after the date of filing if it indicates
that it is filed in connection with a public finance transaction or
manufactured home transaction.
(c) The effectiveness of a filed financing statement lapses on the
expiration of the period of its effectiveness unless before the
lapse a continuation statement is filed pursuant to subdivision (d).
Upon lapse, a financing statement ceases to be effective and any
security interest or agricultural lien that was perfected by the
financing statement becomes unperfected, unless the security interest
is perfected otherwise. If the security interest or agricultural
lien becomes unperfected upon lapse, it is deemed never to have been
perfected as against a purchaser of the collateral for value.
(d) A continuation statement may be filed only within six months
before the expiration of the five-year period specified in
subdivision (a) or the 30-year period specified in subdivision (b),
whichever is applicable.
(e) Except as otherwise provided in Section 9510, upon timely
filing of a continuation statement, the effectiveness of the initial
financing statement continues for a period of five years commencing
on the day on which the financing statement would have become
ineffective in the absence of the filing. Upon the expiration of the
five-year period, the financing statement lapses in the same manner
as provided in subdivision (c), unless, before the lapse, another
continuation statement is filed pursuant to subdivision (d).
Succeeding continuation statements may be filed in the same manner to
continue the effectiveness of the initial financing statement.
(f) If a debtor is a transmitting utility and a filed financing
statement so indicates, the financing statement is effective until a
termination statement is filed.
(g) A record of a mortgage that is effective as a financing
statement filed as a fixture filing under subdivision (c) of Section
9502 remains effective as a financing statement filed as a fixture
filing until the mortgage is released or satisfied of record or its
effectiveness otherwise terminates as to the real property.
9516. (a) Except as otherwise provided in subdivision (b),
communication of a record to a filing office and tender of the filing
fee or acceptance of the record by the filing office constitutes
filing.
(b) Filing does not occur with respect to a record that a filing
office refuses to accept because of any of the following:
(1) The record is not communicated by a method or medium of
communication authorized by the filing office.
(2) An amount equal to or greater than the applicable filing fee
is not tendered.
(3) The filing office is unable to index the record because of any
of the following:
(A) In the case of an initial financing statement, the record does
not provide a name for the debtor.
(B) In the case of an amendment or correction statement, either of
the following applies with respect to the record:
(i) It does not identify the initial financing statement as
required by Section 9512 or 9518, as applicable.
(ii) It identifies an initial financing statement whose
effectiveness has lapsed under Section 9515.
(C) In the case of an initial financing statement that provides
the name of a debtor identified as an individual or an amendment that
provides a name of a debtor identified as an individual which was
not previously provided in the financing statement to which the
record relates, the record does not identify the debtor's last name.
(D) In the case of a record filed or recorded in the filing office
described in paragraph (1) of subdivision (a) of Section 9501, the
record does not provide a sufficient description of the real property
to which it relates.
(4) In the case of an initial financing statement or an amendment
that adds a secured party of record, the record does not provide a
name and mailing address for the secured party of record.
(5) In the case of an initial financing statement or an amendment
that provides a name of a debtor which was not previously provided in
the financing statement to which the amendment relates, the record
does not do any of the following:
(A) Provide a mailing address for the debtor.
(B) Indicate whether the debtor is an individual or an
organization.
(C) If the financing statement indicates that the debtor is an
organization, provide any of the following:
(i) A type of organization for the debtor.
(ii) A jurisdiction of organization for the debtor.
(iii) An organizational identification number for the debtor or
indicate that the debtor has none.
(6) In the case of an assignment reflected in an initial financing
statement under subdivision (a) of Section 9514 or an amendment
filed under subdivision (b) of Section 9514, the record does not
provide a name and mailing address for the assignee.
(7) In the case of a continuation statement, the record is not
filed within the six-month period prescribed by subdivision (d) of
Section 9515.
(c) For purposes of subdivision (b), both of the following rules
apply:
(1) A record does not provide information if the filing office is
unable to read or decipher the information.
(2) A record that does not indicate that it is an amendment or
identify an initial financing statement to which it relates, as
required by Section 9512, 9514, or 9518, is an initial financing
statement.
(d) A record that is communicated to the filing office with tender
of the filing fee, but which the filing office refuses to accept for
a reason other than one set forth in subdivision (b), is effective
as a filed record except as against a purchaser of the collateral
which gives value in reasonable reliance upon the absence of the
record from the files.
9517. The failure of the filing office to index a record correctly
does not affect the effectiveness of the filed record.
9518. (a) A person may file in the filing office a correction
statement with respect to a record indexed there under the person's
name if the person believes that the record is inaccurate or was
wrongfully filed.
(b) A correction statement must do all of the following:
(1) Identify the record to which it relates by both of the
following:
(A) The file number assigned to the initial financing statement to
which the record relates.
(B) If the correction statement relates to a record filed or
recorded in a filing office described in paragraph (1) of subdivision
(a) of Section 9501, the date that the initial financing statement
was filed or recorded and the information specified in subdivision
(b) of Section 9502.
(2) Indicate that it is a correction statement.
(3) Provide the basis for the person's belief that the record is
inaccurate and indicate the manner in which the person believes the
record should be amended to cure any inaccuracy or provide the basis
for the person's belief that the record was wrongfully filed.
(c) The filing of a correction statement does not affect the
effectiveness of an initial financing statement or other filed
record.
9519. (a) For each record filed in a filing office, the filing
office shall do all of the following:
(1) Assign a unique number to the filed record.
(2) Create a record that bears the number assigned to the filed
record and the date and time of filing.
(3) Maintain the filed record for public inspection.
(4) Index the filed record in accordance with subdivisions (c),
(d), and (e).
(b) Except as otherwise provided in subdivision (i), a file number
assigned after January 1, 2002, must include a digit that:
(1) Is mathematically derived from or related to the other digits
of the file number.
(2) Aids the filing office in determining whether a number
communicated as the file number includes a single-digit or
transpositional error.
(c) Except as otherwise provided in subdivisions (d) and (e), the
filing office shall do both of the following:
(1) Index an initial financing statement according to the name of
the debtor and index all filed records relating to the initial
financing statement in a manner that associates with one another an
initial financing statement and all filed records relating to the
initial financing statement.
(2) Index a record that provides a name of a debtor which was not
previously provided in the financing statement to which the record
relates also according to the name that was not previously provided.
(d) If a financing statement is filed as a fixture filing or
covers as-extracted collateral or timber to be cut, it must be
recorded and the filing office shall index it in accordance with both
of the following rules:
(1) Under the names of the debtor and of each owner of record
shown on the financing statement as if they were the mortgagors under
a mortgage of the real property described.
(2) To the extent that the law of this state provides for indexing
of records of mortgages under the name of the mortgagee, under the
name of the secured party as if the secured party were the mortgagee
thereunder, or, if indexing is by description, as if the financing
statement were a record of a mortgage of the real property described.
(e) If a financing statement is filed as a fixture filing or
covers as-extracted collateral or timber to be cut, the filing office
shall index an assignment filed under subdivision (a) of Section
9514 or an amendment filed under subdivision (b) of Section 9514 in
accordance with both of the following rules:
(1) Under the name of the assignor as grantor.
(2) To the extent that the law of this state provides for indexing
a record of the assignment of a mortgage under the name of the
assignee, under the name of the assignee.
(f) The filing office shall maintain a capability to do both of
the following:
(1) Retrieve a record by the name of the debtor and by either of
the following:
(A) If the filing office is described in paragraph (1) of
subdivision (a) of Section 9501, by the file number assigned to the
initial financing statement to which the record relates and the date
that the record was filed or recorded.
(B) If the filing office is described in paragraph (2) of
subdivision (a) of Section 9501, by the file number assigned to the
initial financing statement to which the record relates.
(2) Associate and retrieve with one another an initial financing
statement and each filed record relating to the initial financing
statement.
(g) The filing office may not remove a debtor's name from the
index until one year after the effectiveness of a financing statement
naming the debtor lapses under Section 9515 with respect to all
secured parties of record.
(h) Except as otherwise provided in subdivision (i), the filing
office shall perform the acts required by subdivisions (a) to (e),
inclusive, at the time and in the manner prescribed by filing-office
rule, but not later than two business days after the filing office
receives the record in question.
(i) Subdivisions (b) and (h) do not apply to a filing office
described in paragraph (1) of subdivision (a) of Section 9501.
9520. (a) A filing office shall refuse to accept a record for
filing for a reason set forth in subdivision (b) of Section 9516 and
may refuse to accept a record for filing only for a reason set forth
in subdivision (b) of Section 9516.
(b) If a filing office refuses to accept a record for filing, it
shall communicate to the person that presented the record the fact of
and reason for the refusal and the date and time the record would
have been filed had the filing office accepted it. The communication
shall be made at the time and in the manner prescribed by
filing-office rule, but in the case of a filing office described in
paragraph (2) of subdivision (a) of Section 9501, in no event more
than two business days after the filing office receives the record.
(c) A filed financing statement satisfying subdivisions (a) and
(b) of Section 9502 is effective, even if the filing office is
required to refuse to accept it for filing under subdivision (a).
However, Section 9338 applies to a filed financing statement
providing information described in paragraph (5) of subdivision (b)
of Section 9516 which is incorrect at the time the financing
statement is filed.
(d) If a record communicated to a filing office provides
information that relates to more than one debtor, this chapter
applies as to each debtor separately.
9521. (a) A filing office that accepts written records may not
refuse to accept a written initial financing statement in the
following form and format or in the following form and format but
lacking a space identified for the disclosure of the social security
number of an individual except for a reason set forth in subdivision
(b) of Section 9516:
* * * * * * * * * * * * * * * * *
NOTICE OF INCOMPLETE TEXT: The UCC Financing Statement form
appears in the hard-copy publication of the chaptered bill.
See Sec. 7 of Chapter 235, Statutes of 2003.
* * * * * * * * * * * * * * * * *
(b) A filing office that accepts written records may not refuse to
accept a written record in the following form and format or in the
following form and format but lacking a space identified for the
disclosure of the social security number of an individual except for
a reason set forth in subdivision (b) of Section 9516:
* * * * * * * * * * * * * * * * *
NOTICE OF INCOMPLETE TEXT: The UCC Financing Statement Amendment
form appears in the hard-copy publication of the chaptered bill.
See Sec. 7 of Chapter 235, Statutes of 2003.
* * * * * * * * * * * * * * * * *
9522. (a) The filing office shall maintain a record of the
information provided in a filed financing statement for at least one
year after the effectiveness of the financing statement has lapsed
under Section 9515 with respect to all secured parties of record. The
record shall be retrievable by using the name of the debtor and
either of the following:
(1) If the record was filed or recorded in a filing office
described in paragraph (1) of subdivision (a) of Section 9501, by
using the file number assigned to the initial financing statement to
which the record relates and the date the record was filed or
recorded.
(2) If the record was filed in a filing office described in
paragraph (2) of subdivision (a) of Section 9501, by using the file
number assigned to the initial financing statement to which the
record relates.
(b) Except to the extent that a statute governing disposition of
public records provides otherwise, the filing office immediately may
destroy any written record evidencing a financing statement. However,
if the filing office destroys a written record, it shall maintain
another record of the financing statement which complies with
subdivision (a).
9523. (a) If a person that files a written record requests an
acknowledgment of the filing, the filing office shall send to the
person an image of the record showing the number assigned to the
record pursuant to paragraph (1) of subdivision (a) of Section 9519
and the date and time of the filing of the record. However, if the
person furnishes a copy of the record to the filing office, the
filing office may instead do both of the following:
(1) Note upon the copy the number assigned to the record pursuant
to paragraph (1) of subdivision (a) of Section 9519 and the date and
time of the filing of the record.
(2) Send the copy to the person.
(b) If a person files a record other than a written record, the
filing office shall communicate to the person an acknowledgment that
provides all of the following information:
(1) The information in the record.
(2) The number assigned to the record pursuant to paragraph (1) of
subdivision (a) of Section 9519.
(3) The date and time of the filing of the record.
(c) The filing office shall communicate or otherwise make
available in a record all of the following information to any person
that requests it:
(1) Whether there is on file on a date and time specified by the
filing office, but not a date earlier than three business days before
the filing office receives the request, any financing statement that
satisfies all of the following conditions:
(A) It designates a particular debtor or, if the request so
states, designates a particular debtor at the address specified in
the request.
(B) It has not lapsed under Section 9515 with respect to all
secured parties of record.
(C) If the request so states, it has lapsed under Section 9515 and
a record of which is maintained by the filing office under
subdivision (a) of Section 9522.
(2) The date and time of filing of each financing statement.
(3) The information provided in each financing statement.
(d) In complying with its duty under subdivision (c), the filing
office may communicate information in any medium. However, if
requested, the filing office shall communicate information by issuing
its written certificate.
(e) The filing office described in paragraph (2) of subdivision
(a) of Section 9501 shall perform the acts required by subdivisions
(a) to (d), inclusive, at the time and in the manner prescribed by
filing-office rule, but not later than two business days after the
filing office receives the request.
(f) At least weekly, the filing office described in paragraph (2)
of subdivision (a) of Section 9501 shall offer to sell or license to
the public on a nonexclusive basis, in bulk, copies of all records
filed in it under this chapter, in every medium from time to time
available to the filing office.
9524. Delay by the filing office beyond a time limit prescribed by
this chapter is excused if both of the following conditions are
satisfied:
(1) The delay is caused by interruption of communication or
computer facilities, war, emergency conditions, failure of equipment,
or other circumstances beyond control of the filing office.
(2) The filing office exercises reasonable diligence under the
circumstances.
9525. (a) Except as otherwise provided in subdivision (d), the fee
for filing and indexing a record under this chapter is set forth in
subdivisions (a), (b), and (c) of Section 12194 of the Government
Code.
(b) The number of names required to be indexed does not affect the
amount of the fee in subdivision (a).
(c) The fee for responding to a request for information from the
filing office, including for issuing a certificate showing whether
there is on file any financing statement naming a particular debtor,
is as follows:
(1) Ten dollars ($10) if the request is communicated in writing.
(2) Five dollars ($5) if the request is communicated by another
medium authorized by a rule adopted by the filing office.
(d) This section does not require a fee with respect to a record
of a mortgage which is effective as a financing statement filed as a
fixture filing or as a financing statement covering as-extracted
collateral or timber to be cut under subdivision (c) of Section 9502.
However, the recording and satisfaction fees that otherwise would be
applicable to the record of the mortgage apply.
9526. (a) The Secretary of State shall adopt and publish rules to
implement this division. The filing-office rules shall be consistent
with this division.
(b) To keep the filing-office rules and practices of the filing
office in harmony with the rules and practices of filing offices in
other jurisdictions that enact substantially this chapter, and to
keep the technology used by the filing office compatible with the
technology used by filing offices in other jurisdictions that enact
substantially this chapter, the Secretary of State, so far as is
consistent with the purposes, policies, and provisions of this
division, in adopting, amending, and repealing filing-office rules,
shall do all of the following:
(1) Consult with filing offices in other jurisdictions that enact
substantially this chapter.
(2) Consult the most recent version of the Model Rules promulgated
by the International Association of Corporate Administrators or any
successor organization.
(3) Take into consideration the rules and practices of, and the
technology used by, filing offices in other jurisdictions that enact
substantially this chapter.
9526.5. (a) For purposes of this section, the following terms have
the following meanings:
(1) "Official filing" means the permanent archival filing of all
instruments, papers, records, and attachments as accepted for filing
by a filing office.
(2) "Public filing" means a filing that is an exact copy of an
official filing except that any social security number contained in
the copied filing is truncated. The public filing shall have the same
legal force and effect as the official filing.
(3) "Truncate" means to redact at least the first five digits of a
social security number.
(4) "Truncated social security number" means a social security
number that displays no more than the last four digits of the number.
(b) For every filing containing an untruncated social security
number filed before August 1, 2007, a filing office shall create a
public filing.
(c) A filing office shall post a notice on its Internet Web site
informing filers not to include social security numbers in any
portion of their filings. A filing office's online filing system
shall not contain a field requesting a social security number.
(d) Beginning August 1, 2007, for every filing containing an
untruncated social security number filed by means other than the
filing office's Internet Web site, a filing office shall create a
public filing.
(e) When a public filing version of an official filing exists,
both of the following shall apply:
(1) Upon a request for inspection, copying, or other public
disclosure of an official filing that is not exempt from disclosure,
a filing office shall make available only the public filing version
of that filing.
(2) A filing office shall publicly disclose an official filing
only in response to a subpoena or order of a court of competent
jurisdiction.
(3) This article does not restrict, delay, or modify access to an
official filing, or modify existing agreements regarding access to an
official filing, prior to the creation and availability of a public
filing version of that official filing.
(f) A filing office shall be deemed to be in compliance with the
requirements of this section and shall not be liable for failure to
truncate a social security number if the office uses due diligence to
locate social security numbers in official records and truncate the
social security numbers in the public filing version of those
official filings. The use of an automated program with a high rate of
accuracy shall be deemed to be due diligence.
(g) In the event that a filing office fails to truncate a social
security number contained in a record pursuant to subdivision (b) or
(d), a person may request that the filing office truncate the social
security number contained in that record. Notwithstanding that a
filing office may be deemed to be in compliance with this section
pursuant to subdivision (f), a filing office that receives a request
that identifies the exact location of an untruncated social security
number that is required to be truncated pursuant to subdivision (b)
or (d) within a specifically identified record, shall truncate that
number within 10 business days of receiving the request. The public
filing with the truncated social security number shall replace the
record with the untruncated number.
(h) The Secretary of State shall not produce or make available
financing statements in the form and format described in Section 9521
that provide a space identified for the disclosure of the social
security number of an individual.
(i) The Secretary of State shall produce and make available
financing statements in the form and format described in Section
9521, except that the financing statements shall not provide a space
identified for the disclosure of the social security number of an
individual.
(j) This section does not apply to a county recorder.
9527. The Secretary of State shall report annually on or before
January 31 to the Legislature on the operation of the filing office.
The report must contain a statement of the extent to which both of
the following apply:
(1) The filing-office rules are not in harmony with the rules of
filing offices in other jurisdictions that enact substantially this
chapter and the reasons for these variations.
(2) The filing-office rules are not in harmony with the most
recent version of the Model Rules promulgated by the International
Association of Corporate Administrators, or any successor
organization, and the reasons for these variations.
9528. Upon the request of any person, the Secretary of State shall
issue a combined certificate showing the information as to financing
statements as specified in Section 9523, the information as to state
tax liens as specified in Section 7226 of the Government Code, the
information as to attachment liens as specified in Sections 488.375
and 488.405 of the Code of Civil Procedure, the information as to
judgment liens as specified in Section 697.580 of the Code of Civil
Procedure, and the information as to federal liens as specified in
Section 2103 of the Code of Civil Procedure.
9501. (a) Except as otherwise provided in subdivision (b), if the
local law of this state governs perfection of a security interest or
agricultural lien, the office in which to file a financing statement
to perfect the security interest or agricultural lien is either of
the following:
(1) The office designated for the filing or recording of a record
of a mortgage on the related real property, if either of the
following conditions is satisfied:
(A) The collateral is as-extracted collateral or timber to be cut.
(B) The financing statement is filed as a fixture filing and the
collateral is goods that are or are to become fixtures.
(2) The office of the Secretary of State in all other cases,
including a case in which the collateral is goods that are or are to
become fixtures and the financing statement is not filed as a fixture
filing.
(b) The office in which to file a financing statement to perfect a
security interest in collateral, including fixtures, of a
transmitting utility is the office of the Secretary of State. The
financing statement also constitutes a fixture filing as to the
collateral indicated in the financing statement which is or is to
become fixtures.
9502. (a) Subject to subdivision (b), a financing statement is
sufficient only if it satisfies all of the following conditions:
(1) It provides the name of the debtor.
(2) It provides the name of the secured party or a representative
of the secured party.
(3) It indicates the collateral covered by the financing
statement.
(b) Except as otherwise provided in subdivision (b) of Section
9501, to be sufficient, a financing statement that covers
as-extracted collateral or timber to be cut, or which is filed as a
fixture filing and covers goods that are or are to become fixtures,
must satisfy subdivision (a) and also satisfy all of the following
conditions:
(1) Indicate that it covers this type of collateral.
(2) Indicate that it is to be recorded in the real property
records.
(3) Provide a description of the real property to which the
collateral is related sufficient to give constructive notice of a
mortgage under the law of this state if the description were
contained in a record of the mortgage of the real property.
(4) If the debtor does not have an interest of record in the real
property, provide the name of a record owner.
(c) A record of a mortgage is effective, from the date of
recording, as a financing statement filed as a fixture filing or as a
financing statement covering as-extracted collateral or timber to be
cut only if all of the following conditions are satisfied:
(1) The record indicates the goods or accounts that it covers.
(2) The goods are or are to become fixtures related to the real
property described in the record or the collateral is related to the
real property described in the record and is as-extracted collateral
or timber to be cut.
(3) The record satisfies the requirements for a financing
statement in this section other than an indication that it is to be
filed in the real property records.
(4) The record is duly recorded.
(d) A financing statement may be filed before a security agreement
is made or a security interest otherwise attaches.
9503. (a) A financing statement sufficiently provides the name of
the debtor only if it does so in accordance with the following rules:
(1) If the debtor is a registered organization, only if the
financing statement provides the name of the debtor indicated on the
public record of the debtor's jurisdiction of organization which
shows the debtor to have been organized.
(2) If the debtor is a decedent's estate, only if the financing
statement provides the name of the decedent and indicates that the
debtor is an estate.
(3) If the debtor is a trust or a trustee acting with respect to
property held in trust, only if the financing statement satisfies
both of the following conditions:
(A) It provides the name specified for the trust in its organic
documents or, if no name is specified, provides the name of the
settlor and additional information sufficient to distinguish the
debtor from other trusts having one or more of the same settlors.
(B) It indicates, in the debtor's name or otherwise, that the
debtor is a trust or is a trustee acting with respect to property
held in trust.
(4) In other cases, according to the following rules:
(A) If the debtor has a name, only if it provides the individual
or organizational name of the debtor.
(B) If the debtor does not have a name, only if it provides the
names of the partners, members, associates, or other persons
comprising the debtor.
(b) A financing statement that provides the name of the debtor in
accordance with subdivision (a) is not rendered ineffective by the
absence of either of the following:
(1) A trade name or other name of the debtor.
(2) Unless required under subparagraph (B) of paragraph (4) of
subdivision (a), names of partners, members, associates, or other
persons comprising the debtor.
(c) A financing statement that provides only the debtor's trade
name does not sufficiently provide the name of the debtor.
(d) Failure to indicate the representative capacity of a secured
party or representative of a secured party does not affect the
sufficiency of a financing statement.
(e) A financing statement may provide the name of more than one
debtor and the name of more than one secured party.
9504. A financing statement sufficiently indicates the collateral
that it covers if the financing statement provides either of the
following:
(1) A description of the collateral pursuant to Section 9108.
(2) An indication that the financing statement covers all assets
or all personal property.
9505. (a) A consignor, lessor, or other bailor of goods, a
licensor, or a buyer of a payment intangible or promissory note may
file a financing statement, or may comply with a statute or treaty
described in subdivision (a) of Section 9311, using the terms
"consignor," "consignee," "lessor," "lessee," "bailor," "bailee,"
"licensor," "licensee," "owner," "registered owner," "buyer,"
"seller," or words of similar import, instead of the terms "secured
party" and "debtor."
(b) This chapter applies to the filing of a financing statement
under subdivision (a) and, as appropriate, to compliance that is
equivalent to filing a financing statement under subdivision (b) of
Section 9311, but the filing or compliance is not of itself a factor
in determining whether the collateral secures an obligation. If it is
determined for another reason that the collateral secures an
obligation, a security interest held by the consignor, lessor,
bailor, licensor, owner, or buyer which attaches to the collateral is
perfected by the filing or compliance.
9506. (a) A financing statement substantially satisfying the
requirements of this part is effective, even if it has minor errors
or omissions, unless the errors or omissions make the financing
statement seriously misleading.
(b) Except as otherwise provided in subdivision (c), a financing
statement that fails sufficiently to provide the name of the debtor
in accordance with subdivision (a) of Section 9503 is seriously
misleading.
(c) If a search of the records of the filing office under the
debtor's correct name, using the filing office's standard search
logic, if any, would disclose a financing statement that fails
sufficiently to provide the name of the debtor in accordance with
subdivision (a) of Section 9503, the name provided does not make the
financing statement seriously misleading.
(d) For purposes of subdivision (b) of Section 9508, the "debtor's
correct name" in subdivision (c) means the correct name of the new
debtor.
9507. (a) A filed financing statement remains effective with
respect to collateral that is sold, exchanged, leased, licensed, or
otherwise disposed of and in which a security interest or
agricultural lien continues, even if the secured party knows of or
consents to the disposition.
(b) Except as otherwise provided in subdivision (c) and in Section
9508, a financing statement is not rendered ineffective if, after
the financing statement is filed, the information provided in the
financing statement becomes seriously misleading under Section 9506.
(c) If a debtor so changes its name that a filed financing
statement becomes seriously misleading under Section 9506, the
following rules apply:
(1) The financing statement is effective to perfect a security
interest in collateral acquired by the debtor before, or within four
months after, the change.
(2) The financing statement is not effective to perfect a security
interest in collateral acquired by the debtor more than four months
after the change, unless an amendment to the financing statement
which renders the financing statement not seriously misleading is
filed within four months after the change.
9508. (a) Except as otherwise provided in this section, a filed
financing statement naming an original debtor is effective to perfect
a security interest in collateral in which a new debtor has or
acquires rights to the extent that the financing statement would have
been effective had the original debtor acquired rights in the
collateral.
(b) If the difference between the name of the original debtor and
that of the new debtor causes a filed financing statement that is
effective under subdivision (a) to be seriously misleading under
Section 9506, the following rules apply:
(1) The financing statement is effective to perfect a security
interest in collateral acquired by the new debtor before, and within
four months after, the new debtor becomes bound under subdivision (d)
of Section 9203.
(2) The financing statement is not effective to perfect a security
interest in collateral acquired by the new debtor more than four
months after the new debtor becomes bound under subdivision (d) of
Section 9203 unless an initial financing statement providing the name
of the new debtor is filed before the expiration of that time.
(c) This section does not apply to collateral as to which a filed
financing statement remains effective against the new debtor under
subdivision (a) of Section 9507.
9509. (a) A person may file an initial financing statement, an
amendment that adds collateral covered by a financing statement, or
an amendment that adds a debtor to a financing statement only if
either of the following conditions is satisfied:
(1) The debtor authorizes the filing in an authenticated record or
pursuant to subdivision (b) or (c).
(2) The person holds an agricultural lien that has become
effective at the time of filing and the financing statement covers
only collateral in which the person holds an agricultural lien.
(b) By authenticating or becoming bound as debtor by a security
agreement, a debtor or new debtor authorizes the filing of an initial
financing statement, and an amendment, covering both of the
following:
(1) The collateral described in the security agreement.
(2) Property that becomes collateral under paragraph (2) of
subdivision (a) of Section 9315, whether or not the security
agreement expressly covers proceeds.
(c) By acquiring collateral in which a security interest or
agricultural lien continues under paragraph (1) of subdivision (a) of
Section 9315, a debtor authorizes the filing of an initial financing
statement, and an amendment, covering the collateral and property
that becomes collateral under paragraph (2) of subdivision (a) of
Section 9315.
(d) A person may file an amendment other than an amendment that
adds collateral covered by a financing statement or an amendment that
adds a debtor to a financing statement only if either of the
following conditions is satisfied:
(1) The secured party of record authorizes the filing.
(2) The amendment is a termination statement for a financing
statement as to which the secured party of record has failed to file
or send a termination statement as required by subdivision (a) or (c)
of Section 9513, the debtor authorizes the filing, and the
termination statement indicates that the debtor authorized it to be
filed.
(e) If there is more than one secured party of record for a
financing statement, each secured party of record may authorize the
filing of an amendment under subdivision (d).
9510. (a) A filed record is effective only to the extent that it
was filed by a person that may file it under Section 9509.
(b) A record authorized by one secured party of record does not
affect the financing statement with respect to another secured party
of record.
(c) A continuation statement that is not filed within the
six-month period prescribed by subdivision (d) of Section 9515 is
ineffective.
9511. (a) A secured party of record with respect to a financing
statement is a person whose name is provided as the name of the
secured party or a representative of the secured party in an initial
financing statement that has been filed. If an initial financing
statement is filed under subdivision (a) of Section 9514, the
assignee named in the initial financing statement is the secured
party of record with respect to the financing statement.
(b) If an amendment of a financing statement which provides the
name of a person as a secured party or a representative of a secured
party is filed, the person named in the amendment is a secured party
of record. If an amendment is filed under subdivision (b) of Section
9514, the assignee named in the amendment is a secured party of
record.
(c) A person remains a secured party of record until the filing of
an amendment of the financing statement which deletes the person.
9512. (a) Subject to Section 9509, a person may add or delete
collateral covered by, continue or terminate the effectiveness of,
or, subject to subdivision (e), otherwise amend the information
provided in, a financing statement by filing an amendment that does
both of the following:
(1) Identifies, by its file number, the initial financing
statement to which the amendment relates.
(2) If the amendment relates to an initial financing statement
filed or recorded in a filing office described in paragraph (1) of
subdivision (a) of Section 9501, provides the date that the initial
financing statement was filed or recorded and the information
specified in subdivision (b) of Section 9502.
(b) Except as otherwise provided in Section 9515, the filing of an
amendment does not extend the period of effectiveness of the
financing statement.
(c) A financing statement that is amended by an amendment that
adds collateral is effective as to the added collateral only from the
date of the filing of the amendment.
(d) A financing statement that is amended by an amendment that
adds a debtor is effective as to the added debtor only from the date
of the filing of the amendment.
(e) An amendment is ineffective to the extent that it does either
of the following:
(1) It purports to delete all debtors and fails to provide the
name of a debtor to be covered by the financing statement.
(2) It purports to delete all secured parties of record and fails
to provide the name of a new secured party of record.
9513. (a) A secured party shall cause the secured party of record
for a financing statement to file a termination statement for the
financing statement if the financing statement covers consumer goods
and either of the following conditions is satisfied:
(1) There is no obligation secured by the collateral covered by
the financing statement and no commitment to make an advance, incur
an obligation, or otherwise give value.
(2) The debtor did not authorize the filing of the initial
financing statement.
(b) To comply with subdivision (a), a secured party shall cause
the secured party of record to file the termination statement in
accordance with either of the following rules:
(1) Within one month after there is no obligation secured by the
collateral covered by the financing statement and no commitment to
make an advance, incur an obligation, or otherwise give value.
(2) If earlier, within 20 days after the secured party receives an
authenticated demand from a debtor.
(c) In cases not governed by subdivision (a), within 20 days after
a secured party receives an authenticated demand from a debtor, the
secured party shall cause the secured party of record for a financing
statement to send to the debtor a termination statement for the
financing statement or file the termination statement in the filing
office if any of the following conditions is satisfied:
(1) Except in the case of a financing statement covering accounts
or chattel paper that has been sold or goods that are the subject of
a consignment, there is no obligation secured by the collateral
covered by the financing statement and no commitment to make an
advance, incur an obligation, or otherwise give value.
(2) The financing statement covers accounts or chattel paper that
has been sold but as to which the account debtor or other person
obligated has discharged its obligation.
(3) The financing statement covers goods that were the subject of
a consignment to the debtor but are not in the debtor's possession.
(4) The debtor did not authorize the filing of the initial
financing statement.
(d) Except as otherwise provided in Section 9510, upon the filing
of a termination statement with the filing office, the financing
statement to which the termination statement relates ceases to be
effective. Except as otherwise provided in Section 9510, for purposes
of subdivision (g) of Section 9519, subdivision (a) of Section 9522,
and subdivision (c) of Section 9523, the filing with the filing
office of a termination statement relating to a financing statement
that indicates that the debtor is a transmitting utility also causes
the effectiveness of the financing statement to lapse.
9514. (a) Except as otherwise provided in subdivision (c), an
initial financing statement may reflect an assignment of all of the
secured party's power to authorize an amendment to the financing
statement by providing the name and mailing address of the assignee
as the name and address of the secured party.
(b) Except as otherwise provided in subdivision (c), a secured
party of record may assign all or part of its power to authorize an
amendment to a financing statement by filing in the filing office an
amendment of the financing statement which does all of the following:
(1) Identifies, by its file number, the initial financing
statement to which it relates.
(2) Provides the name of the assignor.
(3) Provides the name and mailing address of the assignee.
(c) An assignment of record of a security interest in a fixture
covered by a record of a mortgage which is effective as a financing
statement filed as a fixture filing under subdivision (c) of Section
9502 may be made only by an assignment of record of the mortgage in
the manner provided by law of this state other than the Uniform
Commercial Code.
9515. (a) Except as otherwise provided in subdivisions (b), (e),
(f), and (g), a filed financing statement is effective for a period
of five years after the date of filing.
(b) Except as otherwise provided in subdivisions (e), (f), and
(g), an initial financing statement filed in connection with a public
finance transaction or manufactured home transaction is effective
for a period of 30 years after the date of filing if it indicates
that it is filed in connection with a public finance transaction or
manufactured home transaction.
(c) The effectiveness of a filed financing statement lapses on the
expiration of the period of its effectiveness unless before the
lapse a continuation statement is filed pursuant to subdivision (d).
Upon lapse, a financing statement ceases to be effective and any
security interest or agricultural lien that was perfected by the
financing statement becomes unperfected, unless the security interest
is perfected otherwise. If the security interest or agricultural
lien becomes unperfected upon lapse, it is deemed never to have been
perfected as against a purchaser of the collateral for value.
(d) A continuation statement may be filed only within six months
before the expiration of the five-year period specified in
subdivision (a) or the 30-year period specified in subdivision (b),
whichever is applicable.
(e) Except as otherwise provided in Section 9510, upon timely
filing of a continuation statement, the effectiveness of the initial
financing statement continues for a period of five years commencing
on the day on which the financing statement would have become
ineffective in the absence of the filing. Upon the expiration of the
five-year period, the financing statement lapses in the same manner
as provided in subdivision (c), unless, before the lapse, another
continuation statement is filed pursuant to subdivision (d).
Succeeding continuation statements may be filed in the same manner to
continue the effectiveness of the initial financing statement.
(f) If a debtor is a transmitting utility and a filed financing
statement so indicates, the financing statement is effective until a
termination statement is filed.
(g) A record of a mortgage that is effective as a financing
statement filed as a fixture filing under subdivision (c) of Section
9502 remains effective as a financing statement filed as a fixture
filing until the mortgage is released or satisfied of record or its
effectiveness otherwise terminates as to the real property.
9516. (a) Except as otherwise provided in subdivision (b),
communication of a record to a filing office and tender of the filing
fee or acceptance of the record by the filing office constitutes
filing.
(b) Filing does not occur with respect to a record that a filing
office refuses to accept because of any of the following:
(1) The record is not communicated by a method or medium of
communication authorized by the filing office.
(2) An amount equal to or greater than the applicable filing fee
is not tendered.
(3) The filing office is unable to index the record because of any
of the following:
(A) In the case of an initial financing statement, the record does
not provide a name for the debtor.
(B) In the case of an amendment or correction statement, either of
the following applies with respect to the record:
(i) It does not identify the initial financing statement as
required by Section 9512 or 9518, as applicable.
(ii) It identifies an initial financing statement whose
effectiveness has lapsed under Section 9515.
(C) In the case of an initial financing statement that provides
the name of a debtor identified as an individual or an amendment that
provides a name of a debtor identified as an individual which was
not previously provided in the financing statement to which the
record relates, the record does not identify the debtor's last name.
(D) In the case of a record filed or recorded in the filing office
described in paragraph (1) of subdivision (a) of Section 9501, the
record does not provide a sufficient description of the real property
to which it relates.
(4) In the case of an initial financing statement or an amendment
that adds a secured party of record, the record does not provide a
name and mailing address for the secured party of record.
(5) In the case of an initial financing statement or an amendment
that provides a name of a debtor which was not previously provided in
the financing statement to which the amendment relates, the record
does not do any of the following:
(A) Provide a mailing address for the debtor.
(B) Indicate whether the debtor is an individual or an
organization.
(C) If the financing statement indicates that the debtor is an
organization, provide any of the following:
(i) A type of organization for the debtor.
(ii) A jurisdiction of organization for the debtor.
(iii) An organizational identification number for the debtor or
indicate that the debtor has none.
(6) In the case of an assignment reflected in an initial financing
statement under subdivision (a) of Section 9514 or an amendment
filed under subdivision (b) of Section 9514, the record does not
provide a name and mailing address for the assignee.
(7) In the case of a continuation statement, the record is not
filed within the six-month period prescribed by subdivision (d) of
Section 9515.
(c) For purposes of subdivision (b), both of the following rules
apply:
(1) A record does not provide information if the filing office is
unable to read or decipher the information.
(2) A record that does not indicate that it is an amendment or
identify an initial financing statement to which it relates, as
required by Section 9512, 9514, or 9518, is an initial financing
statement.
(d) A record that is communicated to the filing office with tender
of the filing fee, but which the filing office refuses to accept for
a reason other than one set forth in subdivision (b), is effective
as a filed record except as against a purchaser of the collateral
which gives value in reasonable reliance upon the absence of the
record from the files.
9517. The failure of the filing office to index a record correctly
does not affect the effectiveness of the filed record.
9518. (a) A person may file in the filing office a correction
statement with respect to a record indexed there under the person's
name if the person believes that the record is inaccurate or was
wrongfully filed.
(b) A correction statement must do all of the following:
(1) Identify the record to which it relates by both of the
following:
(A) The file number assigned to the initial financing statement to
which the record relates.
(B) If the correction statement relates to a record filed or
recorded in a filing office described in paragraph (1) of subdivision
(a) of Section 9501, the date that the initial financing statement
was filed or recorded and the information specified in subdivision
(b) of Section 9502.
(2) Indicate that it is a correction statement.
(3) Provide the basis for the person's belief that the record is
inaccurate and indicate the manner in which the person believes the
record should be amended to cure any inaccuracy or provide the basis
for the person's belief that the record was wrongfully filed.
(c) The filing of a correction statement does not affect the
effectiveness of an initial financing statement or other filed
record.
9519. (a) For each record filed in a filing office, the filing
office shall do all of the following:
(1) Assign a unique number to the filed record.
(2) Create a record that bears the number assigned to the filed
record and the date and time of filing.
(3) Maintain the filed record for public inspection.
(4) Index the filed record in accordance with subdivisions (c),
(d), and (e).
(b) Except as otherwise provided in subdivision (i), a file number
assigned after January 1, 2002, must include a digit that:
(1) Is mathematically derived from or related to the other digits
of the file number.
(2) Aids the filing office in determining whether a number
communicated as the file number includes a single-digit or
transpositional error.
(c) Except as otherwise provided in subdivisions (d) and (e), the
filing office shall do both of the following:
(1) Index an initial financing statement according to the name of
the debtor and index all filed records relating to the initial
financing statement in a manner that associates with one another an
initial financing statement and all filed records relating to the
initial financing statement.
(2) Index a record that provides a name of a debtor which was not
previously provided in the financing statement to which the record
relates also according to the name that was not previously provided.
(d) If a financing statement is filed as a fixture filing or
covers as-extracted collateral or timber to be cut, it must be
recorded and the filing office shall index it in accordance with both
of the following rules:
(1) Under the names of the debtor and of each owner of record
shown on the financing statement as if they were the mortgagors under
a mortgage of the real property described.
(2) To the extent that the law of this state provides for indexing
of records of mortgages under the name of the mortgagee, under the
name of the secured party as if the secured party were the mortgagee
thereunder, or, if indexing is by description, as if the financing
statement were a record of a mortgage of the real property described.
(e) If a financing statement is filed as a fixture filing or
covers as-extracted collateral or timber to be cut, the filing office
shall index an assignment filed under subdivision (a) of Section
9514 or an amendment filed under subdivision (b) of Section 9514 in
accordance with both of the following rules:
(1) Under the name of the assignor as grantor.
(2) To the extent that the law of this state provides for indexing
a record of the assignment of a mortgage under the name of the
assignee, under the name of the assignee.
(f) The filing office shall maintain a capability to do both of
the following:
(1) Retrieve a record by the name of the debtor and by either of
the following:
(A) If the filing office is described in paragraph (1) of
subdivision (a) of Section 9501, by the file number assigned to the
initial financing statement to which the record relates and the date
that the record was filed or recorded.
(B) If the filing office is described in paragraph (2) of
subdivision (a) of Section 9501, by the file number assigned to the
initial financing statement to which the record relates.
(2) Associate and retrieve with one another an initial financing
statement and each filed record relating to the initial financing
statement.
(g) The filing office may not remove a debtor's name from the
index until one year after the effectiveness of a financing statement
naming the debtor lapses under Section 9515 with respect to all
secured parties of record.
(h) Except as otherwise provided in subdivision (i), the filing
office shall perform the acts required by subdivisions (a) to (e),
inclusive, at the time and in the manner prescribed by filing-office
rule, but not later than two business days after the filing office
receives the record in question.
(i) Subdivisions (b) and (h) do not apply to a filing office
described in paragraph (1) of subdivision (a) of Section 9501.
9520. (a) A filing office shall refuse to accept a record for
filing for a reason set forth in subdivision (b) of Section 9516 and
may refuse to accept a record for filing only for a reason set forth
in subdivision (b) of Section 9516.
(b) If a filing office refuses to accept a record for filing, it
shall communicate to the person that presented the record the fact of
and reason for the refusal and the date and time the record would
have been filed had the filing office accepted it. The communication
shall be made at the time and in the manner prescribed by
filing-office rule, but in the case of a filing office described in
paragraph (2) of subdivision (a) of Section 9501, in no event more
than two business days after the filing office receives the record.
(c) A filed financing statement satisfying subdivisions (a) and
(b) of Section 9502 is effective, even if the filing office is
required to refuse to accept it for filing under subdivision (a).
However, Section 9338 applies to a filed financing statement
providing information described in paragraph (5) of subdivision (b)
of Section 9516 which is incorrect at the time the financing
statement is filed.
(d) If a record communicated to a filing office provides
information that relates to more than one debtor, this chapter
applies as to each debtor separately.
9521. (a) A filing office that accepts written records may not
refuse to accept a written initial financing statement in the
following form and format or in the following form and format but
lacking a space identified for the disclosure of the social security
number of an individual except for a reason set forth in subdivision
(b) of Section 9516:
* * * * * * * * * * * * * * * * *
NOTICE OF INCOMPLETE TEXT: The UCC Financing Statement form
appears in the hard-copy publication of the chaptered bill.
See Sec. 7 of Chapter 235, Statutes of 2003.
* * * * * * * * * * * * * * * * *
(b) A filing office that accepts written records may not refuse to
accept a written record in the following form and format or in the
following form and format but lacking a space identified for the
disclosure of the social security number of an individual except for
a reason set forth in subdivision (b) of Section 9516:
* * * * * * * * * * * * * * * * *
NOTICE OF INCOMPLETE TEXT: The UCC Financing Statement Amendment
form appears in the hard-copy publication of the chaptered bill.
See Sec. 7 of Chapter 235, Statutes of 2003.
* * * * * * * * * * * * * * * * *
9522. (a) The filing office shall maintain a record of the
information provided in a filed financing statement for at least one
year after the effectiveness of the financing statement has lapsed
under Section 9515 with respect to all secured parties of record. The
record shall be retrievable by using the name of the debtor and
either of the following:
(1) If the record was filed or recorded in a filing office
described in paragraph (1) of subdivision (a) of Section 9501, by
using the file number assigned to the initial financing statement to
which the record relates and the date the record was filed or
recorded.
(2) If the record was filed in a filing office described in
paragraph (2) of subdivision (a) of Section 9501, by using the file
number assigned to the initial financing statement to which the
record relates.
(b) Except to the extent that a statute governing disposition of
public records provides otherwise, the filing office immediately may
destroy any written record evidencing a financing statement. However,
if the filing office destroys a written record, it shall maintain
another record of the financing statement which complies with
subdivision (a).
9523. (a) If a person that files a written record requests an
acknowledgment of the filing, the filing office shall send to the
person an image of the record showing the number assigned to the
record pursuant to paragraph (1) of subdivision (a) of Section 9519
and the date and time of the filing of the record. However, if the
person furnishes a copy of the record to the filing office, the
filing office may instead do both of the following:
(1) Note upon the copy the number assigned to the record pursuant
to paragraph (1) of subdivision (a) of Section 9519 and the date and
time of the filing of the record.
(2) Send the copy to the person.
(b) If a person files a record other than a written record, the
filing office shall communicate to the person an acknowledgment that
provides all of the following information:
(1) The information in the record.
(2) The number assigned to the record pursuant to paragraph (1) of
subdivision (a) of Section 9519.
(3) The date and time of the filing of the record.
(c) The filing office shall communicate or otherwise make
available in a record all of the following information to any person
that requests it:
(1) Whether there is on file on a date and time specified by the
filing office, but not a date earlier than three business days before
the filing office receives the request, any financing statement that
satisfies all of the following conditions:
(A) It designates a particular debtor or, if the request so
states, designates a particular debtor at the address specified in
the request.
(B) It has not lapsed under Section 9515 with respect to all
secured parties of record.
(C) If the request so states, it has lapsed under Section 9515 and
a record of which is maintained by the filing office under
subdivision (a) of Section 9522.
(2) The date and time of filing of each financing statement.
(3) The information provided in each financing statement.
(d) In complying with its duty under subdivision (c), the filing
office may communicate information in any medium. However, if
requested, the filing office shall communicate information by issuing
its written certificate.
(e) The filing office described in paragraph (2) of subdivision
(a) of Section 9501 shall perform the acts required by subdivisions
(a) to (d), inclusive, at the time and in the manner prescribed by
filing-office rule, but not later than two business days after the
filing office receives the request.
(f) At least weekly, the filing office described in paragraph (2)
of subdivision (a) of Section 9501 shall offer to sell or license to
the public on a nonexclusive basis, in bulk, copies of all records
filed in it under this chapter, in every medium from time to time
available to the filing office.
9524. Delay by the filing office beyond a time limit prescribed by
this chapter is excused if both of the following conditions are
satisfied:
(1) The delay is caused by interruption of communication or
computer facilities, war, emergency conditions, failure of equipment,
or other circumstances beyond control of the filing office.
(2) The filing office exercises reasonable diligence under the
circumstances.
9525. (a) Except as otherwise provided in subdivision (d), the fee
for filing and indexing a record under this chapter is set forth in
subdivisions (a), (b), and (c) of Section 12194 of the Government
Code.
(b) The number of names required to be indexed does not affect the
amount of the fee in subdivision (a).
(c) The fee for responding to a request for information from the
filing office, including for issuing a certificate showing whether
there is on file any financing statement naming a particular debtor,
is as follows:
(1) Ten dollars ($10) if the request is communicated in writing.
(2) Five dollars ($5) if the request is communicated by another
medium authorized by a rule adopted by the filing office.
(d) This section does not require a fee with respect to a record
of a mortgage which is effective as a financing statement filed as a
fixture filing or as a financing statement covering as-extracted
collateral or timber to be cut under subdivision (c) of Section 9502.
However, the recording and satisfaction fees that otherwise would be
applicable to the record of the mortgage apply.
9526. (a) The Secretary of State shall adopt and publish rules to
implement this division. The filing-office rules shall be consistent
with this division.
(b) To keep the filing-office rules and practices of the filing
office in harmony with the rules and practices of filing offices in
other jurisdictions that enact substantially this chapter, and to
keep the technology used by the filing office compatible with the
technology used by filing offices in other jurisdictions that enact
substantially this chapter, the Secretary of State, so far as is
consistent with the purposes, policies, and provisions of this
division, in adopting, amending, and repealing filing-office rules,
shall do all of the following:
(1) Consult with filing offices in other jurisdictions that enact
substantially this chapter.
(2) Consult the most recent version of the Model Rules promulgated
by the International Association of Corporate Administrators or any
successor organization.
(3) Take into consideration the rules and practices of, and the
technology used by, filing offices in other jurisdictions that enact
substantially this chapter.
9526.5. (a) For purposes of this section, the following terms have
the following meanings:
(1) "Official filing" means the permanent archival filing of all
instruments, papers, records, and attachments as accepted for filing
by a filing office.
(2) "Public filing" means a filing that is an exact copy of an
official filing except that any social security number contained in
the copied filing is truncated. The public filing shall have the same
legal force and effect as the official filing.
(3) "Truncate" means to redact at least the first five digits of a
social security number.
(4) "Truncated social security number" means a social security
number that displays no more than the last four digits of the number.
(b) For every filing containing an untruncated social security
number filed before August 1, 2007, a filing office shall create a
public filing.
(c) A filing office shall post a notice on its Internet Web site
informing filers not to include social security numbers in any
portion of their filings. A filing office's online filing system
shall not contain a field requesting a social security number.
(d) Beginning August 1, 2007, for every filing containing an
untruncated social security number filed by means other than the
filing office's Internet Web site, a filing office shall create a
public filing.
(e) When a public filing version of an official filing exists,
both of the following shall apply:
(1) Upon a request for inspection, copying, or other public
disclosure of an official filing that is not exempt from disclosure,
a filing office shall make available only the public filing version
of that filing.
(2) A filing office shall publicly disclose an official filing
only in response to a subpoena or order of a court of competent
jurisdiction.
(3) This article does not restrict, delay, or modify access to an
official filing, or modify existing agreements regarding access to an
official filing, prior to the creation and availability of a public
filing version of that official filing.
(f) A filing office shall be deemed to be in compliance with the
requirements of this section and shall not be liable for failure to
truncate a social security number if the office uses due diligence to
locate social security numbers in official records and truncate the
social security numbers in the public filing version of those
official filings. The use of an automated program with a high rate of
accuracy shall be deemed to be due diligence.
(g) In the event that a filing office fails to truncate a social
security number contained in a record pursuant to subdivision (b) or
(d), a person may request that the filing office truncate the social
security number contained in that record. Notwithstanding that a
filing office may be deemed to be in compliance with this section
pursuant to subdivision (f), a filing office that receives a request
that identifies the exact location of an untruncated social security
number that is required to be truncated pursuant to subdivision (b)
or (d) within a specifically identified record, shall truncate that
number within 10 business days of receiving the request. The public
filing with the truncated social security number shall replace the
record with the untruncated number.
(h) The Secretary of State shall not produce or make available
financing statements in the form and format described in Section 9521
that provide a space identified for the disclosure of the social
security number of an individual.
(i) The Secretary of State shall produce and make available
financing statements in the form and format described in Section
9521, except that the financing statements shall not provide a space
identified for the disclosure of the social security number of an
individual.
(j) This section does not apply to a county recorder.
9527. The Secretary of State shall report annually on or before
January 31 to the Legislature on the operation of the filing office.
The report must contain a statement of the extent to which both of
the following apply:
(1) The filing-office rules are not in harmony with the rules of
filing offices in other jurisdictions that enact substantially this
chapter and the reasons for these variations.
(2) The filing-office rules are not in harmony with the most
recent version of the Model Rules promulgated by the International
Association of Corporate Administrators, or any successor
organization, and the reasons for these variations.
9528. Upon the request of any person, the Secretary of State shall
issue a combined certificate showing the information as to financing
statements as specified in Section 9523, the information as to state
tax liens as specified in Section 7226 of the Government Code, the
information as to attachment liens as specified in Sections 488.375
and 488.405 of the Code of Civil Procedure, the information as to
judgment liens as specified in Section 697.580 of the Code of Civil
Procedure, and the information as to federal liens as specified in
Section 2103 of the Code of Civil Procedure.
9501. (a) Except as otherwise provided in subdivision (b), if the
local law of this state governs perfection of a security interest or
agricultural lien, the office in which to file a financing statement
to perfect the security interest or agricultural lien is either of
the following:
(1) The office designated for the filing or recording of a record
of a mortgage on the related real property, if either of the
following conditions is satisfied:
(A) The collateral is as-extracted collateral or timber to be cut.
(B) The financing statement is filed as a fixture filing and the
collateral is goods that are or are to become fixtures.
(2) The office of the Secretary of State in all other cases,
including a case in which the collateral is goods that are or are to
become fixtures and the financing statement is not filed as a fixture
filing.
(b) The office in which to file a financing statement to perfect a
security interest in collateral, including fixtures, of a
transmitting utility is the office of the Secretary of State. The
financing statement also constitutes a fixture filing as to the
collateral indicated in the financing statement which is or is to
become fixtures.
9502. (a) Subject to subdivision (b), a financing statement is
sufficient only if it satisfies all of the following conditions:
(1) It provides the name of the debtor.
(2) It provides the name of the secured party or a representative
of the secured party.
(3) It indicates the collateral covered by the financing
statement.
(b) Except as otherwise provided in subdivision (b) of Section
9501, to be sufficient, a financing statement that covers
as-extracted collateral or timber to be cut, or which is filed as a
fixture filing and covers goods that are or are to become fixtures,
must satisfy subdivision (a) and also satisfy all of the following
conditions:
(1) Indicate that it covers this type of collateral.
(2) Indicate that it is to be recorded in the real property
records.
(3) Provide a description of the real property to which the
collateral is related sufficient to give constructive notice of a
mortgage under the law of this state if the description were
contained in a record of the mortgage of the real property.
(4) If the debtor does not have an interest of record in the real
property, provide the name of a record owner.
(c) A record of a mortgage is effective, from the date of
recording, as a financing statement filed as a fixture filing or as a
financing statement covering as-extracted collateral or timber to be
cut only if all of the following conditions are satisfied:
(1) The record indicates the goods or accounts that it covers.
(2) The goods are or are to become fixtures related to the real
property described in the record or the collateral is related to the
real property described in the record and is as-extracted collateral
or timber to be cut.
(3) The record satisfies the requirements for a financing
statement in this section other than an indication that it is to be
filed in the real property records.
(4) The record is duly recorded.
(d) A financing statement may be filed before a security agreement
is made or a security interest otherwise attaches.
9503. (a) A financing statement sufficiently provides the name of
the debtor only if it does so in accordance with the following rules:
(1) If the debtor is a registered organization, only if the
financing statement provides the name of the debtor indicated on the
public record of the debtor's jurisdiction of organization which
shows the debtor to have been organized.
(2) If the debtor is a decedent's estate, only if the financing
statement provides the name of the decedent and indicates that the
debtor is an estate.
(3) If the debtor is a trust or a trustee acting with respect to
property held in trust, only if the financing statement satisfies
both of the following conditions:
(A) It provides the name specified for the trust in its organic
documents or, if no name is specified, provides the name of the
settlor and additional information sufficient to distinguish the
debtor from other trusts having one or more of the same settlors.
(B) It indicates, in the debtor's name or otherwise, that the
debtor is a trust or is a trustee acting with respect to property
held in trust.
(4) In other cases, according to the following rules:
(A) If the debtor has a name, only if it provides the individual
or organizational name of the debtor.
(B) If the debtor does not have a name, only if it provides the
names of the partners, members, associates, or other persons
comprising the debtor.
(b) A financing statement that provides the name of the debtor in
accordance with subdivision (a) is not rendered ineffective by the
absence of either of the following:
(1) A trade name or other name of the debtor.
(2) Unless required under subparagraph (B) of paragraph (4) of
subdivision (a), names of partners, members, associates, or other
persons comprising the debtor.
(c) A financing statement that provides only the debtor's trade
name does not sufficiently provide the name of the debtor.
(d) Failure to indicate the representative capacity of a secured
party or representative of a secured party does not affect the
sufficiency of a financing statement.
(e) A financing statement may provide the name of more than one
debtor and the name of more than one secured party.
9504. A financing statement sufficiently indicates the collateral
that it covers if the financing statement provides either of the
following:
(1) A description of the collateral pursuant to Section 9108.
(2) An indication that the financing statement covers all assets
or all personal property.
9505. (a) A consignor, lessor, or other bailor of goods, a
licensor, or a buyer of a payment intangible or promissory note may
file a financing statement, or may comply with a statute or treaty
described in subdivision (a) of Section 9311, using the terms
"consignor," "consignee," "lessor," "lessee," "bailor," "bailee,"
"licensor," "licensee," "owner," "registered owner," "buyer,"
"seller," or words of similar import, instead of the terms "secured
party" and "debtor."
(b) This chapter applies to the filing of a financing statement
under subdivision (a) and, as appropriate, to compliance that is
equivalent to filing a financing statement under subdivision (b) of
Section 9311, but the filing or compliance is not of itself a factor
in determining whether the collateral secures an obligation. If it is
determined for another reason that the collateral secures an
obligation, a security interest held by the consignor, lessor,
bailor, licensor, owner, or buyer which attaches to the collateral is
perfected by the filing or compliance.
9506. (a) A financing statement substantially satisfying the
requirements of this part is effective, even if it has minor errors
or omissions, unless the errors or omissions make the financing
statement seriously misleading.
(b) Except as otherwise provided in subdivision (c), a financing
statement that fails sufficiently to provide the name of the debtor
in accordance with subdivision (a) of Section 9503 is seriously
misleading.
(c) If a search of the records of the filing office under the
debtor's correct name, using the filing office's standard search
logic, if any, would disclose a financing statement that fails
sufficiently to provide the name of the debtor in accordance with
subdivision (a) of Section 9503, the name provided does not make the
financing statement seriously misleading.
(d) For purposes of subdivision (b) of Section 9508, the "debtor's
correct name" in subdivision (c) means the correct name of the new
debtor.
9507. (a) A filed financing statement remains effective with
respect to collateral that is sold, exchanged, leased, licensed, or
otherwise disposed of and in which a security interest or
agricultural lien continues, even if the secured party knows of or
consents to the disposition.
(b) Except as otherwise provided in subdivision (c) and in Section
9508, a financing statement is not rendered ineffective if, after
the financing statement is filed, the information provided in the
financing statement becomes seriously misleading under Section 9506.
(c) If a debtor so changes its name that a filed financing
statement becomes seriously misleading under Section 9506, the
following rules apply:
(1) The financing statement is effective to perfect a security
interest in collateral acquired by the debtor before, or within four
months after, the change.
(2) The financing statement is not effective to perfect a security
interest in collateral acquired by the debtor more than four months
after the change, unless an amendment to the financing statement
which renders the financing statement not seriously misleading is
filed within four months after the change.
9508. (a) Except as otherwise provided in this section, a filed
financing statement naming an original debtor is effective to perfect
a security interest in collateral in which a new debtor has or
acquires rights to the extent that the financing statement would have
been effective had the original debtor acquired rights in the
collateral.
(b) If the difference between the name of the original debtor and
that of the new debtor causes a filed financing statement that is
effective under subdivision (a) to be seriously misleading under
Section 9506, the following rules apply:
(1) The financing statement is effective to perfect a security
interest in collateral acquired by the new debtor before, and within
four months after, the new debtor becomes bound under subdivision (d)
of Section 9203.
(2) The financing statement is not effective to perfect a security
interest in collateral acquired by the new debtor more than four
months after the new debtor becomes bound under subdivision (d) of
Section 9203 unless an initial financing statement providing the name
of the new debtor is filed before the expiration of that time.
(c) This section does not apply to collateral as to which a filed
financing statement remains effective against the new debtor under
subdivision (a) of Section 9507.
9509. (a) A person may file an initial financing statement, an
amendment that adds collateral covered by a financing statement, or
an amendment that adds a debtor to a financing statement only if
either of the following conditions is satisfied:
(1) The debtor authorizes the filing in an authenticated record or
pursuant to subdivision (b) or (c).
(2) The person holds an agricultural lien that has become
effective at the time of filing and the financing statement covers
only collateral in which the person holds an agricultural lien.
(b) By authenticating or becoming bound as debtor by a security
agreement, a debtor or new debtor authorizes the filing of an initial
financing statement, and an amendment, covering both of the
following:
(1) The collateral described in the security agreement.
(2) Property that becomes collateral under paragraph (2) of
subdivision (a) of Section 9315, whether or not the security
agreement expressly covers proceeds.
(c) By acquiring collateral in which a security interest or
agricultural lien continues under paragraph (1) of subdivision (a) of
Section 9315, a debtor authorizes the filing of an initial financing
statement, and an amendment, covering the collateral and property
that becomes collateral under paragraph (2) of subdivision (a) of
Section 9315.
(d) A person may file an amendment other than an amendment that
adds collateral covered by a financing statement or an amendment that
adds a debtor to a financing statement only if either of the
following conditions is satisfied:
(1) The secured party of record authorizes the filing.
(2) The amendment is a termination statement for a financing
statement as to which the secured party of record has failed to file
or send a termination statement as required by subdivision (a) or (c)
of Section 9513, the debtor authorizes the filing, and the
termination statement indicates that the debtor authorized it to be
filed.
(e) If there is more than one secured party of record for a
financing statement, each secured party of record may authorize the
filing of an amendment under subdivision (d).
9510. (a) A filed record is effective only to the extent that it
was filed by a person that may file it under Section 9509.
(b) A record authorized by one secured party of record does not
affect the financing statement with respect to another secured party
of record.
(c) A continuation statement that is not filed within the
six-month period prescribed by subdivision (d) of Section 9515 is
ineffective.
9511. (a) A secured party of record with respect to a financing
statement is a person whose name is provided as the name of the
secured party or a representative of the secured party in an initial
financing statement that has been filed. If an initial financing
statement is filed under subdivision (a) of Section 9514, the
assignee named in the initial financing statement is the secured
party of record with respect to the financing statement.
(b) If an amendment of a financing statement which provides the
name of a person as a secured party or a representative of a secured
party is filed, the person named in the amendment is a secured party
of record. If an amendment is filed under subdivision (b) of Section
9514, the assignee named in the amendment is a secured party of
record.
(c) A person remains a secured party of record until the filing of
an amendment of the financing statement which deletes the person.
9512. (a) Subject to Section 9509, a person may add or delete
collateral covered by, continue or terminate the effectiveness of,
or, subject to subdivision (e), otherwise amend the information
provided in, a financing statement by filing an amendment that does
both of the following:
(1) Identifies, by its file number, the initial financing
statement to which the amendment relates.
(2) If the amendment relates to an initial financing statement
filed or recorded in a filing office described in paragraph (1) of
subdivision (a) of Section 9501, provides the date that the initial
financing statement was filed or recorded and the information
specified in subdivision (b) of Section 9502.
(b) Except as otherwise provided in Section 9515, the filing of an
amendment does not extend the period of effectiveness of the
financing statement.
(c) A financing statement that is amended by an amendment that
adds collateral is effective as to the added collateral only from the
date of the filing of the amendment.
(d) A financing statement that is amended by an amendment that
adds a debtor is effective as to the added debtor only from the date
of the filing of the amendment.
(e) An amendment is ineffective to the extent that it does either
of the following:
(1) It purports to delete all debtors and fails to provide the
name of a debtor to be covered by the financing statement.
(2) It purports to delete all secured parties of record and fails
to provide the name of a new secured party of record.
9513. (a) A secured party shall cause the secured party of record
for a financing statement to file a termination statement for the
financing statement if the financing statement covers consumer goods
and either of the following conditions is satisfied:
(1) There is no obligation secured by the collateral covered by
the financing statement and no commitment to make an advance, incur
an obligation, or otherwise give value.
(2) The debtor did not authorize the filing of the initial
financing statement.
(b) To comply with subdivision (a), a secured party shall cause
the secured party of record to file the termination statement in
accordance with either of the following rules:
(1) Within one month after there is no obligation secured by the
collateral covered by the financing statement and no commitment to
make an advance, incur an obligation, or otherwise give value.
(2) If earlier, within 20 days after the secured party receives an
authenticated demand from a debtor.
(c) In cases not governed by subdivision (a), within 20 days after
a secured party receives an authenticated demand from a debtor, the
secured party shall cause the secured party of record for a financing
statement to send to the debtor a termination statement for the
financing statement or file the termination statement in the filing
office if any of the following conditions is satisfied:
(1) Except in the case of a financing statement covering accounts
or chattel paper that has been sold or goods that are the subject of
a consignment, there is no obligation secured by the collateral
covered by the financing statement and no commitment to make an
advance, incur an obligation, or otherwise give value.
(2) The financing statement covers accounts or chattel paper that
has been sold but as to which the account debtor or other person
obligated has discharged its obligation.
(3) The financing statement covers goods that were the subject of
a consignment to the debtor but are not in the debtor's possession.
(4) The debtor did not authorize the filing of the initial
financing statement.
(d) Except as otherwise provided in Section 9510, upon the filing
of a termination statement with the filing office, the financing
statement to which the termination statement relates ceases to be
effective. Except as otherwise provided in Section 9510, for purposes
of subdivision (g) of Section 9519, subdivision (a) of Section 9522,
and subdivision (c) of Section 9523, the filing with the filing
office of a termination statement relating to a financing statement
that indicates that the debtor is a transmitting utility also causes
the effectiveness of the financing statement to lapse.
9514. (a) Except as otherwise provided in subdivision (c), an
initial financing statement may reflect an assignment of all of the
secured party's power to authorize an amendment to the financing
statement by providing the name and mailing address of the assignee
as the name and address of the secured party.
(b) Except as otherwise provided in subdivision (c), a secured
party of record may assign all or part of its power to authorize an
amendment to a financing statement by filing in the filing office an
amendment of the financing statement which does all of the following:
(1) Identifies, by its file number, the initial financing
statement to which it relates.
(2) Provides the name of the assignor.
(3) Provides the name and mailing address of the assignee.
(c) An assignment of record of a security interest in a fixture
covered by a record of a mortgage which is effective as a financing
statement filed as a fixture filing under subdivision (c) of Section
9502 may be made only by an assignment of record of the mortgage in
the manner provided by law of this state other than the Uniform
Commercial Code.
9515. (a) Except as otherwise provided in subdivisions (b), (e),
(f), and (g), a filed financing statement is effective for a period
of five years after the date of filing.
(b) Except as otherwise provided in subdivisions (e), (f), and
(g), an initial financing statement filed in connection with a public
finance transaction or manufactured home transaction is effective
for a period of 30 years after the date of filing if it indicates
that it is filed in connection with a public finance transaction or
manufactured home transaction.
(c) The effectiveness of a filed financing statement lapses on the
expiration of the period of its effectiveness unless before the
lapse a continuation statement is filed pursuant to subdivision (d).
Upon lapse, a financing statement ceases to be effective and any
security interest or agricultural lien that was perfected by the
financing statement becomes unperfected, unless the security interest
is perfected otherwise. If the security interest or agricultural
lien becomes unperfected upon lapse, it is deemed never to have been
perfected as against a purchaser of the collateral for value.
(d) A continuation statement may be filed only within six months
before the expiration of the five-year period specified in
subdivision (a) or the 30-year period specified in subdivision (b),
whichever is applicable.
(e) Except as otherwise provided in Section 9510, upon timely
filing of a continuation statement, the effectiveness of the initial
financing statement continues for a period of five years commencing
on the day on which the financing statement would have become
ineffective in the absence of the filing. Upon the expiration of the
five-year period, the financing statement lapses in the same manner
as provided in subdivision (c), unless, before the lapse, another
continuation statement is filed pursuant to subdivision (d).
Succeeding continuation statements may be filed in the same manner to
continue the effectiveness of the initial financing statement.
(f) If a debtor is a transmitting utility and a filed financing
statement so indicates, the financing statement is effective until a
termination statement is filed.
(g) A record of a mortgage that is effective as a financing
statement filed as a fixture filing under subdivision (c) of Section
9502 remains effective as a financing statement filed as a fixture
filing until the mortgage is released or satisfied of record or its
effectiveness otherwise terminates as to the real property.
9516. (a) Except as otherwise provided in subdivision (b),
communication of a record to a filing office and tender of the filing
fee or acceptance of the record by the filing office constitutes
filing.
(b) Filing does not occur with respect to a record that a filing
office refuses to accept because of any of the following:
(1) The record is not communicated by a method or medium of
communication authorized by the filing office.
(2) An amount equal to or greater than the applicable filing fee
is not tendered.
(3) The filing office is unable to index the record because of any
of the following:
(A) In the case of an initial financing statement, the record does
not provide a name for the debtor.
(B) In the case of an amendment or correction statement, either of
the following applies with respect to the record:
(i) It does not identify the initial financing statement as
required by Section 9512 or 9518, as applicable.
(ii) It identifies an initial financing statement whose
effectiveness has lapsed under Section 9515.
(C) In the case of an initial financing statement that provides
the name of a debtor identified as an individual or an amendment that
provides a name of a debtor identified as an individual which was
not previously provided in the financing statement to which the
record relates, the record does not identify the debtor's last name.
(D) In the case of a record filed or recorded in the filing office
described in paragraph (1) of subdivision (a) of Section 9501, the
record does not provide a sufficient description of the real property
to which it relates.
(4) In the case of an initial financing statement or an amendment
that adds a secured party of record, the record does not provide a
name and mailing address for the secured party of record.
(5) In the case of an initial financing statement or an amendment
that provides a name of a debtor which was not previously provided in
the financing statement to which the amendment relates, the record
does not do any of the following:
(A) Provide a mailing address for the debtor.
(B) Indicate whether the debtor is an individual or an
organization.
(C) If the financing statement indicates that the debtor is an
organization, provide any of the following:
(i) A type of organization for the debtor.
(ii) A jurisdiction of organization for the debtor.
(iii) An organizational identification number for the debtor or
indicate that the debtor has none.
(6) In the case of an assignment reflected in an initial financing
statement under subdivision (a) of Section 9514 or an amendment
filed under subdivision (b) of Section 9514, the record does not
provide a name and mailing address for the assignee.
(7) In the case of a continuation statement, the record is not
filed within the six-month period prescribed by subdivision (d) of
Section 9515.
(c) For purposes of subdivision (b), both of the following rules
apply:
(1) A record does not provide information if the filing office is
unable to read or decipher the information.
(2) A record that does not indicate that it is an amendment or
identify an initial financing statement to which it relates, as
required by Section 9512, 9514, or 9518, is an initial financing
statement.
(d) A record that is communicated to the filing office with tender
of the filing fee, but which the filing office refuses to accept for
a reason other than one set forth in subdivision (b), is effective
as a filed record except as against a purchaser of the collateral
which gives value in reasonable reliance upon the absence of the
record from the files.
9517. The failure of the filing office to index a record correctly
does not affect the effectiveness of the filed record.
9518. (a) A person may file in the filing office a correction
statement with respect to a record indexed there under the person's
name if the person believes that the record is inaccurate or was
wrongfully filed.
(b) A correction statement must do all of the following:
(1) Identify the record to which it relates by both of the
following:
(A) The file number assigned to the initial financing statement to
which the record relates.
(B) If the correction statement relates to a record filed or
recorded in a filing office described in paragraph (1) of subdivision
(a) of Section 9501, the date that the initial financing statement
was filed or recorded and the information specified in subdivision
(b) of Section 9502.
(2) Indicate that it is a correction statement.
(3) Provide the basis for the person's belief that the record is
inaccurate and indicate the manner in which the person believes the
record should be amended to cure any inaccuracy or provide the basis
for the person's belief that the record was wrongfully filed.
(c) The filing of a correction statement does not affect the
effectiveness of an initial financing statement or other filed
record.
9519. (a) For each record filed in a filing office, the filing
office shall do all of the following:
(1) Assign a unique number to the filed record.
(2) Create a record that bears the number assigned to the filed
record and the date and time of filing.
(3) Maintain the filed record for public inspection.
(4) Index the filed record in accordance with subdivisions (c),
(d), and (e).
(b) Except as otherwise provided in subdivision (i), a file number
assigned after January 1, 2002, must include a digit that:
(1) Is mathematically derived from or related to the other digits
of the file number.
(2) Aids the filing office in determining whether a number
communicated as the file number includes a single-digit or
transpositional error.
(c) Except as otherwise provided in subdivisions (d) and (e), the
filing office shall do both of the following:
(1) Index an initial financing statement according to the name of
the debtor and index all filed records relating to the initial
financing statement in a manner that associates with one another an
initial financing statement and all filed records relating to the
initial financing statement.
(2) Index a record that provides a name of a debtor which was not
previously provided in the financing statement to which the record
relates also according to the name that was not previously provided.
(d) If a financing statement is filed as a fixture filing or
covers as-extracted collateral or timber to be cut, it must be
recorded and the filing office shall index it in accordance with both
of the following rules:
(1) Under the names of the debtor and of each owner of record
shown on the financing statement as if they were the mortgagors under
a mortgage of the real property described.
(2) To the extent that the law of this state provides for indexing
of records of mortgages under the name of the mortgagee, under the
name of the secured party as if the secured party were the mortgagee
thereunder, or, if indexing is by description, as if the financing
statement were a record of a mortgage of the real property described.
(e) If a financing statement is filed as a fixture filing or
covers as-extracted collateral or timber to be cut, the filing office
shall index an assignment filed under subdivision (a) of Section
9514 or an amendment filed under subdivision (b) of Section 9514 in
accordance with both of the following rules:
(1) Under the name of the assignor as grantor.
(2) To the extent that the law of this state provides for indexing
a record of the assignment of a mortgage under the name of the
assignee, under the name of the assignee.
(f) The filing office shall maintain a capability to do both of
the following:
(1) Retrieve a record by the name of the debtor and by either of
the following:
(A) If the filing office is described in paragraph (1) of
subdivision (a) of Section 9501, by the file number assigned to the
initial financing statement to which the record relates and the date
that the record was filed or recorded.
(B) If the filing office is described in paragraph (2) of
subdivision (a) of Section 9501, by the file number assigned to the
initial financing statement to which the record relates.
(2) Associate and retrieve with one another an initial financing
statement and each filed record relating to the initial financing
statement.
(g) The filing office may not remove a debtor's name from the
index until one year after the effectiveness of a financing statement
naming the debtor lapses under Section 9515 with respect to all
secured parties of record.
(h) Except as otherwise provided in subdivision (i), the filing
office shall perform the acts required by subdivisions (a) to (e),
inclusive, at the time and in the manner prescribed by filing-office
rule, but not later than two business days after the filing office
receives the record in question.
(i) Subdivisions (b) and (h) do not apply to a filing office
described in paragraph (1) of subdivision (a) of Section 9501.
9520. (a) A filing office shall refuse to accept a record for
filing for a reason set forth in subdivision (b) of Section 9516 and
may refuse to accept a record for filing only for a reason set forth
in subdivision (b) of Section 9516.
(b) If a filing office refuses to accept a record for filing, it
shall communicate to the person that presented the record the fact of
and reason for the refusal and the date and time the record would
have been filed had the filing office accepted it. The communication
shall be made at the time and in the manner prescribed by
filing-office rule, but in the case of a filing office described in
paragraph (2) of subdivision (a) of Section 9501, in no event more
than two business days after the filing office receives the record.
(c) A filed financing statement satisfying subdivisions (a) and
(b) of Section 9502 is effective, even if the filing office is
required to refuse to accept it for filing under subdivision (a).
However, Section 9338 applies to a filed financing statement
providing information described in paragraph (5) of subdivision (b)
of Section 9516 which is incorrect at the time the financing
statement is filed.
(d) If a record communicated to a filing office provides
information that relates to more than one debtor, this chapter
applies as to each debtor separately.
9521. (a) A filing office that accepts written records may not
refuse to accept a written initial financing statement in the
following form and format or in the following form and format but
lacking a space identified for the disclosure of the social security
number of an individual except for a reason set forth in subdivision
(b) of Section 9516:
* * * * * * * * * * * * * * * * *
NOTICE OF INCOMPLETE TEXT: The UCC Financing Statement form
appears in the hard-copy publication of the chaptered bill.
See Sec. 7 of Chapter 235, Statutes of 2003.
* * * * * * * * * * * * * * * * *
(b) A filing office that accepts written records may not refuse to
accept a written record in the following form and format or in the
following form and format but lacking a space identified for the
disclosure of the social security number of an individual except for
a reason set forth in subdivision (b) of Section 9516:
* * * * * * * * * * * * * * * * *
NOTICE OF INCOMPLETE TEXT: The UCC Financing Statement Amendment
form appears in the hard-copy publication of the chaptered bill.
See Sec. 7 of Chapter 235, Statutes of 2003.
* * * * * * * * * * * * * * * * *
9522. (a) The filing office shall maintain a record of the
information provided in a filed financing statement for at least one
year after the effectiveness of the financing statement has lapsed
under Section 9515 with respect to all secured parties of record. The
record shall be retrievable by using the name of the debtor and
either of the following:
(1) If the record was filed or recorded in a filing office
described in paragraph (1) of subdivision (a) of Section 9501, by
using the file number assigned to the initial financing statement to
which the record relates and the date the record was filed or
recorded.
(2) If the record was filed in a filing office described in
paragraph (2) of subdivision (a) of Section 9501, by using the file
number assigned to the initial financing statement to which the
record relates.
(b) Except to the extent that a statute governing disposition of
public records provides otherwise, the filing office immediately may
destroy any written record evidencing a financing statement. However,
if the filing office destroys a written record, it shall maintain
another record of the financing statement which complies with
subdivision (a).
9523. (a) If a person that files a written record requests an
acknowledgment of the filing, the filing office shall send to the
person an image of the record showing the number assigned to the
record pursuant to paragraph (1) of subdivision (a) of Section 9519
and the date and time of the filing of the record. However, if the
person furnishes a copy of the record to the filing office, the
filing office may instead do both of the following:
(1) Note upon the copy the number assigned to the record pursuant
to paragraph (1) of subdivision (a) of Section 9519 and the date and
time of the filing of the record.
(2) Send the copy to the person.
(b) If a person files a record other than a written record, the
filing office shall communicate to the person an acknowledgment that
provides all of the following information:
(1) The information in the record.
(2) The number assigned to the record pursuant to paragraph (1) of
subdivision (a) of Section 9519.
(3) The date and time of the filing of the record.
(c) The filing office shall communicate or otherwise make
available in a record all of the following information to any person
that requests it:
(1) Whether there is on file on a date and time specified by the
filing office, but not a date earlier than three business days before
the filing office receives the request, any financing statement that
satisfies all of the following conditions:
(A) It designates a particular debtor or, if the request so
states, designates a particular debtor at the address specified in
the request.
(B) It has not lapsed under Section 9515 with respect to all
secured parties of record.
(C) If the request so states, it has lapsed under Section 9515 and
a record of which is maintained by the filing office under
subdivision (a) of Section 9522.
(2) The date and time of filing of each financing statement.
(3) The information provided in each financing statement.
(d) In complying with its duty under subdivision (c), the filing
office may communicate information in any medium. However, if
requested, the filing office shall communicate information by issuing
its written certificate.
(e) The filing office described in paragraph (2) of subdivision
(a) of Section 9501 shall perform the acts required by subdivisions
(a) to (d), inclusive, at the time and in the manner prescribed by
filing-office rule, but not later than two business days after the
filing office receives the request.
(f) At least weekly, the filing office described in paragraph (2)
of subdivision (a) of Section 9501 shall offer to sell or license to
the public on a nonexclusive basis, in bulk, copies of all records
filed in it under this chapter, in every medium from time to time
available to the filing office.
9524. Delay by the filing office beyond a time limit prescribed by
this chapter is excused if both of the following conditions are
satisfied:
(1) The delay is caused by interruption of communication or
computer facilities, war, emergency conditions, failure of equipment,
or other circumstances beyond control of the filing office.
(2) The filing office exercises reasonable diligence under the
circumstances.
9525. (a) Except as otherwise provided in subdivision (d), the fee
for filing and indexing a record under this chapter is set forth in
subdivisions (a), (b), and (c) of Section 12194 of the Government
Code.
(b) The number of names required to be indexed does not affect the
amount of the fee in subdivision (a).
(c) The fee for responding to a request for information from the
filing office, including for issuing a certificate showing whether
there is on file any financing statement naming a particular debtor,
is as follows:
(1) Ten dollars ($10) if the request is communicated in writing.
(2) Five dollars ($5) if the request is communicated by another
medium authorized by a rule adopted by the filing office.
(d) This section does not require a fee with respect to a record
of a mortgage which is effective as a financing statement filed as a
fixture filing or as a financing statement covering as-extracted
collateral or timber to be cut under subdivision (c) of Section 9502.
However, the recording and satisfaction fees that otherwise would be
applicable to the record of the mortgage apply.
9526. (a) The Secretary of State shall adopt and publish rules to
implement this division. The filing-office rules shall be consistent
with this division.
(b) To keep the filing-office rules and practices of the filing
office in harmony with the rules and practices of filing offices in
other jurisdictions that enact substantially this chapter, and to
keep the technology used by the filing office compatible with the
technology used by filing offices in other jurisdictions that enact
substantially this chapter, the Secretary of State, so far as is
consistent with the purposes, policies, and provisions of this
division, in adopting, amending, and repealing filing-office rules,
shall do all of the following:
(1) Consult with filing offices in other jurisdictions that enact
substantially this chapter.
(2) Consult the most recent version of the Model Rules promulgated
by the International Association of Corporate Administrators or any
successor organization.
(3) Take into consideration the rules and practices of, and the
technology used by, filing offices in other jurisdictions that enact
substantially this chapter.
9526.5. (a) For purposes of this section, the following terms have
the following meanings:
(1) "Official filing" means the permanent archival filing of all
instruments, papers, records, and attachments as accepted for filing
by a filing office.
(2) "Public filing" means a filing that is an exact copy of an
official filing except that any social security number contained in
the copied filing is truncated. The public filing shall have the same
legal force and effect as the official filing.
(3) "Truncate" means to redact at least the first five digits of a
social security number.
(4) "Truncated social security number" means a social security
number that displays no more than the last four digits of the number.
(b) For every filing containing an untruncated social security
number filed before August 1, 2007, a filing office shall create a
public filing.
(c) A filing office shall post a notice on its Internet Web site
informing filers not to include social security numbers in any
portion of their filings. A filing office's online filing system
shall not contain a field requesting a social security number.
(d) Beginning August 1, 2007, for every filing containing an
untruncated social security number filed by means other than the
filing office's Internet Web site, a filing office shall create a
public filing.
(e) When a public filing version of an official filing exists,
both of the following shall apply:
(1) Upon a request for inspection, copying, or other public
disclosure of an official filing that is not exempt from disclosure,
a filing office shall make available only the public filing version
of that filing.
(2) A filing office shall publicly disclose an official filing
only in response to a subpoena or order of a court of competent
jurisdiction.
(3) This article does not restrict, delay, or modify access to an
official filing, or modify existing agreements regarding access to an
official filing, prior to the creation and availability of a public
filing version of that official filing.
(f) A filing office shall be deemed to be in compliance with the
requirements of this section and shall not be liable for failure to
truncate a social security number if the office uses due diligence to
locate social security numbers in official records and truncate the
social security numbers in the public filing version of those
official filings. The use of an automated program with a high rate of
accuracy shall be deemed to be due diligence.
(g) In the event that a filing office fails to truncate a social
security number contained in a record pursuant to subdivision (b) or
(d), a person may request that the filing office truncate the social
security number contained in that record. Notwithstanding that a
filing office may be deemed to be in compliance with this section
pursuant to subdivision (f), a filing office that receives a request
that identifies the exact location of an untruncated social security
number that is required to be truncated pursuant to subdivision (b)
or (d) within a specifically identified record, shall truncate that
number within 10 business days of receiving the request. The public
filing with the truncated social security number shall replace the
record with the untruncated number.
(h) The Secretary of State shall not produce or make available
financing statements in the form and format described in Section 9521
that provide a space identified for the disclosure of the social
security number of an individual.
(i) The Secretary of State shall produce and make available
financing statements in the form and format described in Section
9521, except that the financing statements shall not provide a space
identified for the disclosure of the social security number of an
individual.
(j) This section does not apply to a county recorder.
9527. The Secretary of State shall report annually on or before
January 31 to the Legislature on the operation of the filing office.
The report must contain a statement of the extent to which both of
the following apply:
(1) The filing-office rules are not in harmony with the rules of
filing offices in other jurisdictions that enact substantially this
chapter and the reasons for these variations.
(2) The filing-office rules are not in harmony with the most
recent version of the Model Rules promulgated by the International
Association of Corporate Administrators, or any successor
organization, and the reasons for these variations.
9528. Upon the request of any person, the Secretary of State shall
issue a combined certificate showing the information as to financing
statements as specified in Section 9523, the information as to state
tax liens as specified in Section 7226 of the Government Code, the
information as to attachment liens as specified in Sections 488.375
and 488.405 of the Code of Civil Procedure, the information as to
judgment liens as specified in Section 697.580 of the Code of Civil
Procedure, and the information as to federal liens as specified in
Section 2103 of the Code of Civil Procedure.
