111-11-01 Definitions.

Terms used in rules in this chapter but not defined in this chapter that are defined in the Uniform Commercial Code (UCC) shall have the respective meanings accorded such terms in the UCC.

(A) Active Record. "Active Record" means a UCC record that has been stored in the UCC information management system and indexed in, but not yet removed from, the Searchable Indexes.

(B) Address. "Address" means either (1) a street address, route number (may include box) or PO box number plus the city, state and zip code, or (2) an address that purports to be a mailing address outside the United States of America.

(C) Amendment. "Amendment" means a UCC record that amends the information contained in a financing statement. Amendments include assignments, continuations and terminations.

(D) Assignment. "Assignment" is an amendment that assigns all or a part of a secured party's power to authorize an amendment to a financing statement.

(E) Correction statement. "Correction statement" means a UCC record that indicates that a financing statement is inaccurate or wrongfully filed.

(F) Filing office and filing officer. "Filing office" and "filing officer" mean the office of the Ohio secretary of state.

(G) Filing officer statement. "Filing officer statement" means a statement entered into the filing office's information system to correct an error by the filing office.

(H) Initial financing statement. " Initial financing statement" means a UCC record that causes the filing office to establish the initial record of filing of a financing statement.

(I) Remitter. "Remitter" means a person who tenders a UCC record to the filing officer for filing, whether the person is a filer or an agent of a filer responsible for tendering the record for filing. "Remitter" does not include a person responsible merely for the delivery of the record to the filing office, such as the postal service or a courier service but does include as service provider who acts as a filer's representative in the filing process.

(J) Searchable indexes. "Searchable indexes" means the searchable index of individual debtor names and the searchable index of organization debtor names maintained in the UCC information management system.

(K) Secured party of record. "Secured party of record" includes a secured party of record as defined in section 1309.511 of the Revised Code. As well as person who has been a secured party of record with respect to whom an amendment has been filed purporting to delete them as a secured party of record.

(L) UCC. "UCC" means the Uniform Commercial Code as adopted in this state.

(M) UCC information management system. "UCC information management system" means the information management system used by the filing office to store, index, and retrieve information relating to financing statements as described in this chapter.

(N) UCC record. "UCC record" means an initial financing statement, an amendment, an assignment, a continuation, a termination statement, a filing officer statement or a correction statement, and includes a record thereof maintained by the filing office. The term shall not be deemed to refer exclusively to paper or paper-based writings.

(O) Unlapsed record. "Unlapsed record" means a UCC record that has been stored and indexed in the UCC information management system, which has not yet lapsed under section 1309.515 of the Revised Code with respect to all secured parties of record.

Effective: 01/07/2011
R.C. 119.032 review dates: 10/21/2010 and 07/15/2015
Promulgated Under: 119.03
Statutory Authority: 1309.526
Rule Amplifies: 1309.102 , 1309.511 , 1309.512 , 1309.518 , 1309.519
Prior Effective Dates: 7-3-01 (Emer.); 9-20-01