Email Regarding UCC's
Prior to July 1, 2013, the Uniform Commercial Code statute prescribed that if a filer wished to designate the financing statement to be filed for record or recorded in the Real Estate Records, they checked a box that was located on the UCC Financing Statement (UCC1) form.
The new Uniform Commercial Code law, which updates UCC Revised Article 9, was adopted by the Tennessee General Assembly during the 2012 legislative session based on the recommendations of The Uniform Law Commission (ULC).
The ULC, also known as the National Conference of Commissioners on Uniform State Laws, was established in 1892, provides states with non-partisan, well-conceived and well-drafted legislation that brings clarity and stability to critical areas of state statutory law.
Effective July 1, 2013, the statutory changes to the Uniform Commercial Code law took effect. As part of those changes, the statute prescribes a new layout for the following forms:
UCC Financing Statement(UCC1)
UCC Financing Statement Addendum(UCC1Ad) UCC Financing Statement Amendment(UCC3) UCC Financing Statement Amendment Addendum (UCC3Ad)
Under the new law that took effect July 1st, the check box that allows the filer to designate if the financing statement is to be filed for record or recorded in the Real Estate Records is now located on the UCC Financing Statement Addendum Form (UCC1Ad).
Please let me know if you or any of the other Registers of Deeds have further questions or if you need additional information.
Sincerely,
Nathan
Nathan A. Burton
Director
Tennessee Secretary of State
Business Services Division
312 Rosa L. Parks Ave. - 6th Floor
Nashville, TN 37243
Phone (615) 741-2286
Email: nathan.burton@tn.gov
Claudia Peeler
July 29, 2013
FYI,
RE: NEW UCC FINANCING STATEMENT
I’m sure most of you have seen the new UCC form adopted by the Tennessee General Assembly. The issue we are encountering is whether or not the UCC’s that are being
submitted for recording are personal property or are to be recorded in the Real Estate records. The box to check for a real estate filing is on the Addendum page. If the Addendum page is not attached, there is not way to know whether the UCC is to be filed or recorded. Pam Whitaker contacted Secretary Hargett’s office to try to get an answer. She was referred to Nathan Burton. After several emails, she asked him if the Addendum page was not submitted were we to reject the UCC. He said “Yes, that is correct”. So, fellow Registers, if the Addendum page is not attached, we are to reject the document. I have copies of her email correspondence with Nathan Burton if anyone would like to see them, just let me know.
Thanks, and have a blessed day.
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