PENNSYLVANIA UNIFORM COMMERCIAL FILINGS
Act 18 of 2001, the Uniform Commercial Code Modernization Act of 2001, was signed into law by Governor Tom Ridge on June 8, 2001. This Act takes effect on July 1, 2001. The Pennsylvania Department of State is making every effort to comply with Act 18 by July 1, 2001. Below are some guidelines for filing Uniform Commercial Code Financing Statements as of July 1, 2001.
The Commonwealth of Pennsylvania will adopt the National UCC Financing Statement, the National UCC Financing Statement Amendment, the Information Request and the Correction Statement as approved by the International Association of Corporation Administrators (IACA). No other forms will be accepted. Only one copy of the form should be submitted. A computerized receipt, with the filing information, will be returned to the filer. These Forms may be obtained from M. BURR KEIM COMPANY.
The filing fees will be $84.00 per form for the Financing Statement, the Financing Statement Amendment and the Correction Statement. There is no additional fee for attachments or additional debtors. Pennsylvania statute to be searched. If copies are requested , there is an additional fee of $2.00 per page copied. If certified copies are requested, there is an additional charge of $28.00.
The Department of State will not reject a filing the lacks an Organization ID number if the filing contains enough information so that it can be properly indexed and the debtor adequately identified.
Only one transaction will be allowed on a Financing Statement Amendment. Multiple transactions will need to be identified on separate forms and submitted for filing with separate checks.
Debtor names will be indexed exactly as they appear on the Financing Statement. If multiple debtors are listed in one block, they will be indexed as one debtor. You must use the Financing Statement and the Financing Statement Addendum form to list all Debtor and Secured Party names. The Department will not retrieve debtors or Secured Parties from attachments. It is important for the secured party to include the Debtor's full, legal name correctly on the filing. For an individual this means an individuals legal name and for companies the exact name of the Corporation, LLC, LP or LLP. It is suggested trade names and d/b/a's not be used.
In order to continue the perfection and the priority of a financing statement that was filed in a different jurisdiction, an "in lieu" financing statement must be filed. The "in lieu" statement will be filed using the UCC Financing Statement form. The "in lieu" filing must contain the date of filing and file number for the Pre-RA9 filing and the most recent continuation statement information, if any. The "in lieu" financing statement may be filed at any time before the pre-RA9 filing lapses.
Signatures will no longer be required on UCC Financing Statements.
All UCC's (with the exception of collateral that are fixtures, timber or mineral receivables) will be filed in the office where a mortgage is filed-usually in the local county recorder of deeds office.
The new filing rules are simplified as follows:
M. BURR KEIM COMPANY
2021 ARCH STREET
PHILADELPHIA, PA 19103
215-563-8113 OR 800-533-8113 (OUTSIDE 215 AREA CODE)