Oklahoma UCC Filing Fees Structure - Getting Hammered by Unexpected Costs

This is solid advice. I learned this the hard way after filing a UCC-1 that got rejected because the debtor name didn't exactly match their articles of incorporation. Had to pay the original $10 plus another $10 for the corrected filing. Now I always pull the entity search first.

Wait, so if I have a 2-page UCC-1 in Oklahoma it's $15 total? That's actually not bad compared to some states I've dealt with. California charges $84 for online filings regardless of length.

Can you give an example of how to reference back to a previous filing? I'm new to this and want to make sure I don't screw up the cross-reference.

Sure! Instead of retyping everything, you can say something like 'All collateral described in UCC-1 filing number 2024-XXXX-XXXX dated January 15, 2024, plus [any additional collateral].' Just make sure you get the filing number exactly right or it defeats the purpose.

Be careful with this approach though. Some lenders prefer to see the full collateral description in each filing for their own record-keeping. Always check with your client first.

How accurate is that tool? I'm always skeptical of automated checkers for legal documents.

I was skeptical too but it's been spot-on for me. It does a side-by-side comparison of the names and highlights any discrepancies. Much faster than manually cross-checking everything. Plus it works with PDFs so you just upload and get results in seconds.

I'll have to check that out. I made a $300 mistake last month because of a debtor name issue that cascaded into multiple corrective filings.

Tell me about it! I just did a deal with collateral in Oklahoma, Texas, and Kansas. Three different fee structures, three different forms, three different debtor name requirements. It's a nightmare.

This is exactly why I switched to doing all my UCC prep work digitally. Having everything in one system makes it easier to adapt to different state requirements without starting from scratch each time.

I don't think Oklahoma has bulk discounts, but you might be able to consolidate some of those filings if the equipment is all owned by the same debtor and securing the same debt. One UCC-1 with a comprehensive collateral description could cover multiple pieces of equipment.

Just be careful about the practical implications of consolidation. If your client ever needs to release individual pieces of equipment, having separate filings makes partial releases much cleaner.

Good point about partial releases. I learned this lesson on a construction equipment deal where we had to amend the collateral description multiple times as equipment was sold off.

At least Oklahoma's online system is decent though. I've dealt with states where you have to mail in paper filings or use ancient web portals that crash constantly.

True, Oklahoma's system is pretty reliable. And you get instant confirmation of filing which is nice for time-sensitive deals.

Would you be willing to share some examples of that optimized language? I'm always struggling to keep my equipment descriptions concise.

I can't share client-specific templates but generally think in terms of categories rather than individual items. 'All machinery and equipment used in debtor's operations' covers a lot more ground in fewer words than listing every individual machine.

Just make sure your collateral description is still specific enough to give proper notice to other potential creditors. Too broad and you might have enforceability issues down the road.

Those little formatting issues are killer. I once had a filing rejected because I used 'Co.' instead of 'Company' in the debtor name. $10 down the drain plus the delay.

This is why I always pull the exact legal name from the Oklahoma Secretary of State database before filling out any UCC forms. Takes an extra minute but prevents costly mistakes.

Texas is definitely more expensive, especially in the major counties. Dallas County charges like $25 just for the base filing.

And don't even get me started on New York's UCC fees. Makes Oklahoma look like a bargain.

Smart approach. I've seen too many deals where nobody budgeted for the continuation fees and then there's a scramble to figure out who pays when the 5-year mark hits.

This is especially important for equipment financing deals with longer terms. A 7-year equipment loan will definitely need at least one continuation filing.

And if you miss the continuation deadline, you're looking at a whole new UCC-1 filing plus potential gap in perfection. Much better to plan ahead and budget properly.