UCC Document Community

The scope of article 9 ucc really comes down to whether you're creating a security interest in personal property to secure an obligation. If your 'lease' is really just a way to finance the debtor's acquisition of equipment, it falls under Article 9 regardless of what you call it. Focus on the economic substance, not the legal labels.

This is a great discussion that highlights how nuanced Article 9 scope determinations can be. One practical tip I'd add - consider creating a decision tree or flowchart for your team that walks through the key factors: lease term vs. useful life, purchase options, residual value expectations, etc. We implemented something similar and it's helped standardize our approach across different deal types. Also, document your reasoning for each decision - auditors and examiners love to see that you have a consistent methodology for scope determinations, even if they might disagree with specific conclusions.

Just to wrap this up - forget about finding a 'UCC 11 form Louisiana' specifically. Use Louisiana's standard Information Request form, get the debtor name exactly right, consider certified searches for important transactions, and verify all your documents match up properly. Should cover all your bases for the equipment financing.

As someone new to UCC searches, this thread has been incredibly educational! I'm dealing with a similar situation in another state and was also getting confused by different form numbering systems. The advice about focusing on getting the debtor name exactly right and considering certified searches for important transactions really resonates. I appreciate how everyone broke down the Louisiana-specific process while also explaining the broader principles that apply across states. This kind of detailed, practical guidance is exactly what newcomers like me need when navigating UCC procedures for the first time.

Final thought - don't forget to document your search methodology for the deal file. Note which states you searched, what name variations you used, and the dates of your searches. If issues come up later, you'll want to show you did comprehensive due diligence.

This thread has been incredibly helpful - thank you all for the detailed guidance! I'm starting to realize how complex this really is. One more question: when you're dealing with equipment financing, how do you distinguish between UCC filings that might be for operating leases versus actual secured debt? I want to make sure I'm not flagging every piece of leased equipment as a potential deal issue if it's just normal business operations.

One more tool that might help - I recently started using Certana.ai for UCC document checks and it's been a lifesaver. You can upload both the original UCC-1 and the termination document before filing to catch any mismatches. It immediately flags things like debtor name differences, incorrect filing numbers, or collateral description issues that could cause rejections. Much better than trying to manually compare everything, especially when you're under time pressure for a closing.

This whole situation highlights why solar financing UCC filings are such a pain point. I've seen this exact scenario play out multiple times. Here's what I'd recommend based on your situation: First, get Sunnova to commit in writing to filing the UCC-3 termination within 2 business days of receiving payoff funds. If they won't commit to that timeline, escalate to their legal department. Second, confirm with your title company whether they need to see the termination actually recorded or if they'll accept proof of electronic filing. Some title companies will close with confirmation that the filing was submitted electronically, knowing it takes 24-48 hours to show in the system. Third, consider asking your new lender about a simultaneous closing structure where both the payoff and new funding happen through escrow on the same day - this eliminates the timing gap that's causing your catch-22. The key is getting all three parties (Sunnova, new lender, title company) to agree on the exact sequence and timing before you get to closing day.

One more thing to keep in mind - UCC search results are only as good as the date you run them. New filings can be made at any time, so if there's a gap between your search and closing, you may want to run updated searches closer to the transaction date. Some attorneys require searches to be no more than 30 days old at closing.

This thread has been incredibly helpful! As someone just starting with UCC searches, I'm realizing there's a lot more to consider than I initially thought. One question that's come up as I'm reading through all these responses - when you find active UCC filings, how do you actually interpret what the collateral description means? Some of the filings I've seen in practice searches have really broad language like "all assets" or very specific equipment descriptions. How do I know what's actually covered and whether it affects the assets we're looking to acquire?