UCC Commercial Filings
The Uniform Commercial Code (UCC) is a law enacted in all 50 states to regulate commercial transactions. Article 9 of the UCC allows for a public notice (UCC-1) to be ﬁled in a designated state ﬁling office by dealers (or lenders) to perfect their security interests in equipment that is bought and/ or ﬁnanced.
The UCC-1 ﬁling is valid for ﬁve years and can be continued to extend the ﬁnancing statement for additional terms of ﬁve years. Filing is usually with the ofﬁce of the Secretary of State in the state of residence, Incorporation or business formation.