Rule 111:1-3-01 | Definitions.
Terms used in these filing-office rules that are defined in the UCC and not otherwise defined in this rule shall have the respective meanings accorded such terms in the UCC.
(A) "Address" means information provided as an address on a UCC record as long as it includes at least a city and a state or foreign country.
(B) "Amendment" means any UCC record filed that relates to the initial financing statement. Amendments include party or collateral changes, assignments, continuations and terminations.
(C) "Assignment" is an amendment that assigns all or a part of a secured party's power to authorize an amendment to a financing statement.
(D) "Information statement" means a UCC record that indicates a financing statement is inaccurate or wrongfully filed.
(E) "Filing office" means the office of the Ohio secretary of state.
(F) "Filing office statement" means a statement entered into the filing office's UCC information management system to explain an action by the filing office to correct an error made by the filing office.
(G) "Initial financing statement" means a UCC record that causes the filing office to establish the initial record of filing of a financing statement.
(H) "Remitter" means a person who tenders a UCC record to the filing office for filing, whether the person is a filer or an agent of a filer responsible for tendering the record for filing.
(I) "Searchable indexes" means the searchable index of individual debtor names and the searchable index of organization debtor names the filing office must maintain in the UCC information management system.
(J) "Secured party of record" means every party designated as a secured party in a financing statement, including those for whom an amendment has been filed purporting to delete them as a secured party or purporting to indicate they have assigned their secured interest, except as provided in paragraph (A) of rule 111:1-3-23 of the Administrative Code.
(K) "UCC' means the uniform commercial code as adopted in the state of Ohio.
(L) "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.
(M) 'UCC record" means an initial financing statement, an amendment of party or collateral information, an assignment, a continuation statement, a termination statement, a filing office statement or an information statement.
(N) "Unlapsed record" means a UCC record that has been stored and indexed in the UCC information management system, which has a lapse date that has not yet occurred.
Last updated October 26, 2023 at 10:47 AM
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