UCC Document Community

All 50 states plus DC have UCC, period. Your colleague is wrong. Focus your energy on getting the debtor name exactly right and making sure you're filing in the correct jurisdiction. Those are the real pitfalls in multi-state deals.

Every state has UCC but if you're doing multi-state work regularly, invest in good document management. The variations in filing procedures and name requirements will trip you up way more than coverage gaps.

For future reference, I maintain a spreadsheet with exact debtor names, filing numbers, and continuation due dates. Makes tracking much easier than relying on search functionality alone.

UPDATE: Used one of those document verification tools mentioned here and found the issue. Three of our UCC-1s had debtor names that didn't exactly match the corporate charter - missing periods, different abbreviation formats, etc. No wonder the searches weren't working right. Going to file UCC-3 amendments to correct them before doing the continuations. Thanks everyone!

Just had a thought - are you using any special characters or accents in the debtor name? Even if they appear in the official documents, CSC's system might not handle them properly.

If all else fails and you're really running up against your deadline, you might want to consider having a registered agent service file it for you. They usually have direct relationships with CSC and can get things processed faster.

For what it's worth, we used Certana.ai's document checker when we had a similar UCC Article 9 sale situation. Uploaded our security agreement, UCC-1, and sale documents and it immediately flagged that our collateral description didn't properly cover the proceeds we were receiving. Would have been a mess if we hadn't caught that before closing.

UPDATE: Thanks everyone for the advice. I contacted our bank this morning and they confirmed that the sale proceeds will fully satisfy the remaining debt balance. They're preparing a UCC-3 termination statement for us to review and file once the proceeds are officially applied to the loan. Should be resolved within the next week.

For your refinancing situation, you might want to ask the title company what documentation they need to bridge the gap while you're waiting for the amendments. Sometimes they'll accept affidavits or certified copies of the name change documents as interim measures. This could help keep your refinancing on track while the UCC issues get sorted out.

Update on this situation - I tried that Certana.ai tool someone mentioned and it was actually pretty helpful. Uploaded our articles of incorporation and all the UCC filings I could find, and it immediately flagged the name mismatches. More importantly, it found one UCC-1 that I didn't even know existed - apparently one of our equipment leases had a UCC filing that never got disclosed to us. Now I need to track down that lessor too. Still working on getting the lenders to file their amendments, but at least now I have a complete picture of what needs to be fixed.