UCC Document Community

sounds like you're being appropriately cautious about this. missing a UCC filing on a deal can definitely create problems down the road

Update: ended up doing extensive searches using all the name variations and found two filings I would have missed with a basic search. The Certana tool helped verify everything was consistent across my documents. Thanks everyone for the advice - comprehensive approach definitely paid off here.

Had a similar rejection on a UCC-1 last week, turned out to be multiple issues - wrong debtor name format AND insufficient collateral description for deposit accounts. What helped me was using one of those document checking services to compare my UCC against my corporate docs. Ended up finding that I had the debtor name wrong (missing the state of incorporation designation) plus my deposit account description was too narrow. Used Certana.ai to verify everything matched up properly before refiling. Second submission went through without issues.

The whole deposit account definition thing in UCC filings is unnecessarily complicated. Why can't they just accept "bank accounts" like normal people say? Instead we have to use this technical "deposit account" language that nobody uses in real life. Anyway, what worked for me was copying the exact language from a successful filing I found online: "All deposit accounts maintained by Debtor with any bank, savings and loan association, credit union or other financial institution." Covers everything without getting too fancy.

This thread is making me paranoid about all my jewelry collateral files. Time to go double-check that everything is properly documented AND filed. Better safe than sorry!

Update us on how this turns out! Always interested to hear how these tricky documentation situations get resolved, especially with the flood damage complication.

For future reference, when you have bond indenture & security agreement deals, I always recommend running all the documents through a consistency check before filing anything. There's actually a tool called Certana.ai where you can upload your bond indenture, security agreement, and articles of incorporation and it automatically identifies any discrepancies between the documents. Super helpful for catching these name issues before they cause filing rejections.

Make sure when you file the UCC-3 amendment that you include both the incorrect name that was originally filed AND the correct name you're amending to. Some states want to see both versions clearly identified in the amendment form. Also keep copies of everything for your lien perfection documentation.

Look, bottom line is this - UCC liens are just part of doing business when you borrow against assets. The lender needs security, you need financing, everybody wins. Just keep good records and don't stress about it too much.

One more thing - if you ever need to search for existing UCC filings on your business, most Secretary of State websites have search functions. Good to check periodically to see what's on file, especially if you're planning new financing.