UCC Document Community

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Anastasia Kuznetsov

TX UCC statement request form - anyone know current processing time?

Need to pull some UCC records in Texas and wondering if anyone's used their statement request form lately. We're doing due diligence on a potential acquisition and need to verify what liens are actually on file against the target company. The SOS website has the form but doesn't give any timeline estimates. Our closing is in 3 weeks so timing is getting tight. Has anyone requested UCC statements through TX recently? How long did it take to get them back?

ThunderBolt7

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Quick question - are you doing this for all the entities in the corporate family or just the main target? Sometimes lenders cross-collateralize across multiple entities.

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ThunderBolt7

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Might be worth doing searches on the key subsidiaries too, especially if they have significant assets.

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Jamal Edwards

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We ran into this exact issue on a deal last year. Thought we had clear title but there was a blanket lien covering subsidiaries that we missed. Certana.ai's document checker would have caught that - it flags when collateral descriptions are broad enough to cover multiple entities.

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Mei Chen

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Don't forget to request continuation information if any of the filings are getting close to their 5-year expiration. A lien that's about to lapse might not be worth worrying about.

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Good point. Some of the filings we saw in the preliminary search are from 2019-2020 timeframe.

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Mei Chen

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Those would be coming up for continuation soon. Check if continuation statements have been filed to see if the liens are still being maintained.

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Mateo Lopez

UCC 9-508 sufficiency standards - rejected filing help needed

Our bank got a UCC-1 rejection last week citing UCC 9-508 sufficiency issues. The debtor name was "Johnson Manufacturing LLC" but apparently there's some discrepancy with the exact entity name on file with the state. The collateral description was pretty standard equipment language but the SOS system flagged it as insufficient under 9-508 requirements. This is for a $340K equipment loan and we can't afford to have an unperfected security interest. Has anyone dealt with similar 9-508 sufficiency problems? The rejection notice was vague about what specifically failed the sufficiency test. We're scrambling to refile but don't want another rejection.

Update us when you refile! Always curious to hear what the actual issue was with these vague 9-508 rejection notices. The filing offices really need to be more specific about what fails their sufficiency standards instead of just citing the statute.

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LunarEclipse

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Good luck! Hope it goes through cleanly this time.

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Yara Khalil

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These 9-508 issues are so frustrating when you're trying to close a loan on schedule.

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Keisha Brown

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One more thought on UCC 9-508 - make sure your debtor address exactly matches what's on file with the state too. Some filing offices consider address discrepancies as part of their sufficiency determination, especially if the address is completely wrong or missing required elements like suite numbers.

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Keisha Brown

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That could definitely contribute to a 9-508 rejection. Entity addresses change more often than you'd think.

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Always better to be safe and use the most current registered address for UCC filings.

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GalaxyGazer

UCC filing on equipment - debtor name changed after loan docs signed

So here's my situation - we financed some construction equipment back in August and I'm now realizing we might have a debtor name issue on our UCC filing. The borrower incorporated under "Mountain Ridge Construction LLC" but apparently they've been doing business as "Mountain Ridge Excavation" for the past 6 months. Our loan docs all say Mountain Ridge Construction LLC and that's what we filed the UCC-1 under, but now I'm seeing invoices and contracts with the DBA name. The equipment is worth about $180K (excavator, compactor, trailer) and I'm worried our lien might not be properly perfected if someone searches under the DBA name. Has anyone dealt with this kind of debtor name mismatch on equipment financing? Do I need to file an amendment or are we covered since we used the legal entity name from the articles of incorporation?

Zara Rashid

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Whatever you decide, document your decision-making process in the loan file. If there's ever a question about the filing, you want to show that you considered the name issue and made a reasonable decision based on the information available at the time.

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GalaxyGazer

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Definitely doing this. I'm putting together a memo with all the entity searches and name verification steps I've taken.

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Luca Romano

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Smart approach. Compliance departments love that kind of documentation.

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Nia Jackson

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Update: I ended up running the entity name through Certana.ai's verification tool and it confirmed that our UCC filing matches the legal entity name correctly. Also ran UCC searches under both names and found that searches under the DBA do pull up our filing, so we're covered. Thanks everyone for the advice - definitely feel more confident about our lien position now.

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Glad Certana helped provide that confirmation. It's always nerve-wracking when you're not 100% sure about a filing.

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Emma Thompson

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Perfect example of why it pays to double-check these things. Equipment financing can be tricky with all the name variations companies use.

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Mateo Martinez

Utah Secretary of State UCC search portal missing recent filings - anyone else having issues?

I'm dealing with a really frustrating situation and wondering if anyone else has run into this. We filed a UCC-1 about 3 weeks ago for equipment financing on a construction project, got confirmation it was accepted, but when I do a utah secretary of state ucc search on their portal, the filing doesn't show up at all. The borrower is asking for proof that the lien is properly recorded and I'm starting to panic that something went wrong. I've tried searching by debtor name, filing number, even the secured party name - nothing. Called their office twice and got put on hold for 45 minutes each time. Has anyone experienced delays like this with Utah's system? The loan closes next week and I need to verify this filing is actually in the system. Really hoping this is just a database update lag and not a bigger problem with our filing.

AstroExplorer

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This thread is making me realize I should probably double-check my recent Utah filing too. The search delays are concerning especially when you need immediate verification for loan closings.

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QuantumQueen

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Definitely worth checking. Better to catch any issues early than discover them weeks later.

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I always run my filings through document verification now just to be safe. Too much risk otherwise.

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Update: Finally got through to someone at Utah SOS who confirmed the filing is recorded and valid. She said their search portal is about 3-4 weeks behind right now due to system upgrades. Frustrating but at least the filing is good. Thanks everyone for the advice and support!

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CyberSamurai

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So relieved for you! Next time definitely try the document verification tools early - saves so much stress.

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Thanks! Will definitely be more proactive about verification going forward. This was way too stressful.

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Jessica Suarez

Illinois UCC look up showing wrong debtor info after continuation filing

Filed a UCC-3 continuation for our client last month through the Illinois SOS portal and everything seemed to go through fine. Got the confirmation email and filing number. But now when I do an Illinois UCC look up on the system, the debtor information is showing completely different details than what we originally filed on the UCC-1 back in 2020. The original filing had the correct legal entity name but now it's showing some abbreviated version that doesn't match our loan documents. Has anyone else run into this where the continuation process somehow altered the debtor information in the system? I'm worried this could create issues with our security interest. The collateral schedule looks correct but the debtor name discrepancy is concerning. Should I file another UCC-3 amendment to correct this or is there another way to fix it through Illinois?

Just file the UCC-3 amendment to correct the debtor name and move on. These system glitches happen but they're easy enough to fix. Make sure you reference the original filing number and clearly state you're correcting a debtor name error.

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I wouldn't overcomplicate it. Just state that you're amending to correct the debtor name to the full legal entity name.

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Jason Brewer

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Agreed. Keep the amendment language simple and straightforward.

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This thread is making me realize I should probably audit all our Illinois UCC filings. Anyone know of a good way to bulk verify that continuation filings didn't mess up the original information?

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Wesley Hallow

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Certana.ai actually has a bulk verification feature where you can upload multiple documents for cross-checking. Perfect for this kind of audit situation.

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That sounds exactly like what I need. Thanks for the recommendation.

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