Rule 111:1-3-30 | Removal of record.
A financing statement must remain in the searchable index within the UCC information management system until at least one year after it lapses. On or after the first anniversary of such lapse, the financing statement and all related UCC records may be removed from the searchable indexes or from the UCC information management system.
Transmitting utilities.
A financing statement that indicates a debtor is a transmitting utility must remain in the searchable index within the UCC information management system until at least one year after it is terminated with respect to all secured parties of record. On or after the first anniversary of the termination date of the last remaining secured party of record, the financing statement may be removed from its searchable index or from the UCC information management system.
Last updated October 26, 2023 at 11:07 AM
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