Community Bankers Association of Illinois

Spotlight on Services: UCC Search Risk – Terminated Financing Statements

When conducting a UCC search, be sure to carefully review terminated, but unlapsed financing statements. A financing statement may remain fully effective, even after the filing of a termination statement. The effectiveness of a termination depends on the filer’s authority. That authority cannot be determined from the UCC records.

For further information, contact:

Paul Hodnefield
Associate General Counsel
Corporation Service Company
(800) 927-9801, ext. 2375
phodnefi@cscinfo.com


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