What information is required in a financing statement filing?

Generally, to perfect a security interest, a secured party may file a security agreement in the appropriate government office.  9-310(a). To be enforceable under the UCC 9-502(a), a financing statement must contain the following information:

• Relevant Law: 9-520(a) requires that a financing statement meet the requirements of 9-516(b). 9-516 requires that the financing statement meet the following requirements.

Debtors Name - Generally this requires a first and last name. It may also require any aliases or fictitious names necessary to identify the individual;

Note: This is particularly important when the debtor is a business operating under a fictitious name.

Secured Party's Name - Name of the secured party or her representative; and

Identifies Collateral - A description of the collateral must be sufficient to identify the collateral or indicate that the financing statement covers all assets or all personal property of the debtor.

Additionally, the financing statement must meet the following requirements:

Standard Form - It must be in the form authorized by the filing office.

Note: UCC 9-521(a) provides an acceptable form financing statement.

Filing Fee - Must include a sufficient filing fee;

Debtors Mailing Address - This requires an address where the debtor may receive notices with regard to the filing.

Entity Status and Information - Debtors status as an organization (type, jurisdiction, organizational ID); and

Secured Party's Address - This requires an address where the secured party may receive notices with regard to the filing.

• Relevant Law: If the financing statement is not authorized, it is ineffective under 9-509(a), the secured party is obligated to file a termination statement 9-513(a)(2) or the debtor may do so, and there is a statutory penalty of $500 to the unauthorized filer. If the collateral is as-extracted minerals, the financing statement must be filled in the jurisdiction where the mine or wellhead is located. 9-301.

Related Topics

• Secured Transactions Law (Intro)
• What is a Security Interest?
• Collateral 
• Pledge as Collateral
• Collateralize
• Cross Collateralization
• After-Acquired Collateral
• Unsecured Loan Definition
  
• Unencumbered Asset
• What is a Secured Creditor?
• Unsecured Creditor
• What are the benefits of security interests for creditors?
• Limited Recourse Debt
• Uniform Commercial Code - Article 9
  
• What are the common types of security interest in real property (land)?
• What is a mortgage?
• How does a security interest protect the mortgage holder?
• Lis Pendens
• Deficiency Judgment
• What is a Deed of Trust or Security Deed?
• What is a Land Sale Contract?
• What is a security interest in personal property?
• How does one establish a security interest in personal property?
• What is Perfection of a security interest?
• What are the methods of perfecting a security interest in personal property?
• UCC-1 Statement
• How does one establish a security interest in real property (land)?
• Register of Deeds
• What is Automatic Perfection of a security interest?
• What is a Purchase Money Security Interest (PMSI) in consumer goods?
• What is a Purchase Money Grace Period for a PMSI in non-consumer goods?
• How does one continue perfection of a PMSI in non-consumer goods?
• What is Temporary Automatic Perfection in Proceeds from the sale of goods?
• How is a security interest created in Assignment of Accounts Receivable and Contract Rights?
• How does one perfect a security interest by Possession of the collateral?
• How does on perfect a security interest by Control of collateral?
• How does one perfect a security interest by Filing a Financing Statement?
• What authorization is required to file a financing statement?
• Where is the appropriate office to file a financing statement?
• Defeasance
• Continuation Statement
• What is Priority of a security interest?
• What role does perfection play in establishing the Priority of a secured party?
• What are the common conflicts arising as to priority of a security interest?
• What is the priority of parties secured by common law and statutory liens?
• Lien - Definition
• Blanket Lien Definition
• Unperfected Lien
• Possessory Lien 
• Non-Possessory Lien 
• Tax Lien
• Mechanics Lien Definition
• Construction Lien
• Cloud on Title
• What is the priority of a buyer of collateral that is subject to a security interest?
• What is required to be a buyer in the ordinary course of business?
• How does 9-320(b) protect consumers who purchase goods from other consumers?
• What is the Shelter Principle?
• What are the general Priority Rules for Conflicting security interests?
• Subordination Agreement
• Who has Priority in Proceeds from the sale of collateral?
• What is a secured party's priority in future advances to a debtor?
• What is the priority of a PMSI in goods (other than inventory and livestock)?
• What is the priority of a PMSI in inventory?
• What is the priority of conflicting PMSIs?
• What is the priority of security interests in fixtures?
• What is the scope of fixture priority rules?