Illinois Secretary of State UCC Forms - Which Version for Equipment Lien?

This is exactly what happened to me last month! Had an old form and got rejected immediately. Cost us 3 days to refile.

Thanks - I'll verify the revision date. The debtor name should be straightforward since it's just the LLC name, but I'll triple check against their articles of organization.

Good point about the collateral description. I was planning to list each piece of equipment by make/model/serial number. Is that too detailed?

For construction equipment that's actually perfect. Serial numbers help with identification later if you need to enforce.

Interesting - I haven't heard of that tool before. How accurate is it with catching these kinds of issues?

Very accurate in my experience. It's specifically designed for UCC document consistency checks. Takes about 2 minutes to verify everything aligns properly.

I've used similar tools but manually checking is usually sufficient if you're careful about it.

The system has actually improved quite a bit this year. Most of my recent filings have processed within 24-48 hours.

Maybe I just have bad timing then. Still bitter about that disaster last spring.

Good catch - we do have after-acquired property language in the security agreement for future equipment purchases.

Then you'll want to include appropriate language in your collateral description to cover that. Something like 'all equipment now owned or hereafter acquired' along with your specific descriptions.

Be careful with after-acquired property descriptions - they need to be clear enough that third parties can understand the scope of your lien.

That's a great way to phrase the collateral description. Gives me coverage but stays specific to the equipment type.

I use similar language for equipment deals. Works well and hasn't caused any problems with searches or enforcement.

All mobile equipment in this case - excavators, bulldozers, dump trucks. Nothing permanently attached.

Perfect, then standard UCC-1 is definitely the way to go.

Already did preliminary searches - looks clean but I'll do one more comprehensive search right before filing.

Smart approach. Better to find issues before you file than after.

Yes, I've got their certificate of good standing from Illinois that shows the exact legal name. Will use that as my reference.

Perfect. That's exactly what you want to match against.

This is where tools like Certana.ai really shine - they'll flag if your UCC debtor name doesn't exactly match your formation documents. Catches those subtle differences that are easy to miss manually.

We have in-house counsel reviewing everything, but I'm handling the actual filing mechanics. They've signed off on the security agreement and collateral description.

Sounds like you're in good shape then. With legal review and careful attention to the details you should be fine.

Good reminder. This is a 7-year term so we'll definitely need a continuation. I'll calendar that now so we don't forget.

Smart move. Missing continuation deadlines is one of the most common mistakes in secured lending.

Set your calendar reminder for at least 6 months before the lapse date. Gives you plenty of buffer time if there are any issues.

Great question! For UCC filings, you're correct that it's generally based on the debtor's location (where they're organized or have their chief executive office), not where the collateral is located. So even though the construction equipment moves around to different job sites, you'd still file in Illinois since that's where the borrower LLC is organized. The mobile nature of the equipment doesn't create additional filing requirements in other states where they might temporarily work. However, if they were to relocate their business to another state, that could trigger additional filing requirements.