FAQ
UCC - Filing Information
What is a financing statement?

A financing statement is an initial financing statement and all UCC documents that relate to the initial financing statement. An initial financing statement was formerly called an original financing statement. A financing statement is filed to perfect a security interest and provide a public notice of a security agreement between a debtor and a secured party. The financing statement describes certain types of collateral or property used as surety for the security agreement.

 

 

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What is a financing statement amendment?

A financing statement amendment is a UCC document that amends the information in a financing statement. Amendments include continuations (extends the effective filing period for 5 more years), terminations (terminates the filing) and assignments (assigns all or part of a security interest to another secured party).

 

 

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How long is a financing statement active?

If a continuation is not filed, the financing statement will lapse 5 years from the original filing date. A continuation extends the filing period 5 additional years from the initial filing date. Subsequent continuations may be filed in increments of 5 years and always expire on the anniversary date of the initial filing. A continuation may be filed up to 6 months before the expiration date of the financing statement. Under Article 9, all lapsed and terminated filings remain active for search reporting purposes until one year after the initial financing statement lapses or would have lapsed.

 

 

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What form is used for filing an initial financing statement?

The National UCC1 form should be used for filing an initial financing statement with the Michigan Secretary of State. The National UCC1 form includes the proper information fields for filing. There is space for two debtor names on the UCC1 form. If you have more than two debtor names, also include the UCC1 addendum. The debtor name must be entered as either an individual or as an organization, but not both.

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What form is used for filing financing statement amendments?

The National UCC3 form should be used for amendment filings with Michigan Secretary of State. The National UCC3 form includes the proper information fields for filing. 

A UCC3 form must always reference the initial UCC filing number. Separate UCC3 forms are required for each amendment on the initial financing statement. For example, a continuation and assignment would need to be submitted on two separate UCC3 forms with two filing fees.

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Where does a filer put additional debtor names?

The National form has designated spaces for two debtor names. For more than two names, the filer should attach an UCC1 Addendum or a UCC3 Addendum form. An addendum sheet counts as a page for fee calculation purposes.

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What is a fixture filing?

A fixture filing covers goods that are permanently attached to the land or real property. Fixture filings are recorded at a county Register of Deeds office. Crops growing or to be grown are not fixtures, and are filed at the Michigan Secretary of State UCC office. 

 

 

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Is a tax identification number required for a filing?

Effective July 1, 2001, a tax identification number is no longer required on initial and amendment financing statements. UCC documents are public records. Filers may wish to consider protecting their customers from identity theft by excluding Social Security numbers and other personally identifiable numbers, from financing statements filed with the Michigan UCC office.

 

 

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Are signatures required on an initial financing statement?

Effective July 1, 2001, signatures are no longer required on an initial financing statement.

 

 

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Are signatures required on financing statement amendments?

Effective July 1, 2001, signatures are no longer required on financing statement amendments.

 

 

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What are the requirements for filing a UCC1?

Submit the following when filing a UCC1:

  • One copy of the completed UCC1 form, the Filing Office copy. Make sure all form information is complete and legible, including names and addresses for the debtor and secured parties.
  • A check or money order for the appropriate fee, made payable to "State of Michigan," or the submitter's previously established billing account number in good standing.

The debtor name shown on the UCC1 form should be the debtor's legal name. The UCC1 form should include a description of the collateral covered by the financing statement.

 

 

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Which form should I use to terminate a financing statement?

Submit a UCC3 financing statement amendment form marking the termination box and referencing the initial file number.

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When an assignment amendment is filed, who is the secured party of record?

A secured party may assign all or part of its rights under a financing statement by filing an assignment financing statement using a UCC3 form. If the assignment is an assignment of all rights, the secured party assigned all rights is the secured party of record. If the assignment is for part of the rights, both the previous secured party and the secured party assigned part of the rights are maintained on file as secured parties of record. 

 

 

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What is the purpose of the Information Statement?

A UCC5 Information Statement may be filed by the debtor, not secured interests, if it is believed that a particular record is inaccurate or was wrongfully filed. The filing of an information statement does not affect the effectiveness of a previously filed document. The Michigan Secretary of State UCC office files the information statement with the initial filing, but no information in the initial filing is changed. The UCC office does not determine whether the information statement is effective or legitimate. A financing statement amendment must be used to make changes on previous filings.

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Where should I file a UCC financing statement?

The Uniform Commercial Code designates where to file based on the location of the debtor. The collateral location no longer determines where to file. Filings for organizations are made in the state where the organization is registered. Filings for individuals are made in the state of residence. Filing in the wrong office is not a rejection reason listed in the statute.

Within the state of organization or residence, mortgages, fixtures, minerals and timber are filed with the county Register of Deeds. All other types of collateral, including transmitting utilities, should be filed with the State UCC Office.

 

 

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Who determines the types of collateral included on a financing statement?

This decision is left to the filer. Failure to list collateral is not a reason to reject the financing statement. Mortgages, fixtures, minerals, and timber to be cut are filed with the county Register of Deeds. Filing in the wrong office is not a rejection reason listed in the statute. All other types of collateral, including filings for transmitting utilities, should be filed with:

Michigan Department of State
UCC Section
P.O. Box 30197
Lansing, MI  48909-7697

 

 

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If I have the county where collateral is located, can you give me the appropriate county Register of Deeds telephone number?

Find the contact information for each Michigan county Register of Deeds office at the Michigan Association of Registers of Deeds.

 

 

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What forms do you accept for filing?

The National UCC1 financing statement form and the National UCC3 financing statement amendment form, with revision dates of 4/20/11, are the standard filing forms used in Michigan.  

 

 

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Do you accept filings electronically or by fax?

Electronic filing is available to UCC billing account customers and credit card customers. Visit UCC Online at: (https://ucc.sos.state.mi.us/).

 

 

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What are your filing fees?

Filings *

All debtor names, per filing
$15 standard filing fee

* Fees apply to all UCC1 and UCC3 filings, including terminations

Searches
Each debtor name
$6 standard search fee

Expedited search, per debtor name
$25 (additional fee)

Filing copies, per page
$2 (additional fee)

Request for Official Seal
$6 (additional fee)

 

 

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How do I know if my filing was accepted?

The filing office will return an acknowledgement copy of the filing. The UCC information management system automatically generates an acknowledgement copy. Please submit a single copy of each financing statement you wish to file. 

 

 

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How long before I receive the acknowledgment copy of my filing?

Acknowledgment copies are typically mailed in three to seven days.

 

 

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How can I find organization information in Michigan?

Corporate jurisdiction, type and identification number are no longer required on a UCC financing statement. Records for Michigan companies are kept with the Michigan Department of Licensing and Regulatory Affairs, Bureau of Commercial Services, Corporation Division. Visit the Corporation Division at: http://www.dleg.state.mi.us/bcs_corp/sr_corp.asp.

 

 

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Where do I terminate a financing statement?

Terminate the financing statement in the office where the original financing statement was filed. If the original was filed with the State UCC office, terminate at the State UCC office. Likewise, if the original was filed with the County Register of Deeds, terminate at the County Register of Deeds.

 

 

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How do I change a county filing to the State UCC office?

File an "in lieu of" initial financing statement with the State UCC office, in place of filing a continuation or other amendment financing statement (UCC3) at the county Register of Deeds office. Complete a UCC1 with current information for debtors, secured parties and collateral. An "in lieu of" filing may either list file numbers or include copies of multiple initial financing statements and corresponding amendment financing statements for the same debtor. The secured party determines whether or not to file an "in lieu of" filing.

 

 

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