Okla. County Clerk Explains Benefits of Central Filing of Financial Statements

By Caudill, Carolynn | THE JOURNAL RECORD, June 29, 2001 | Go to article overview

Okla. County Clerk Explains Benefits of Central Filing of Financial Statements


Caudill, Carolynn, THE JOURNAL RECORD


Why central filing?

The Uniform Commercial Code was designed to give notice to all interested parties of an existing security interest in collateral.

There are several benefits to going to a central filing format and designating a central point for UCC financing statements. Benefits include:

* Reduces the confusion on where to file.

* Provides one set of rules for filing UCCs.

* Eliminates the need to dual file UCCs in the same state.

* Provides one location to search for information on debtors.

* Reduces the overall time to search, file, and conduct business transaction and to increase public access to information.

Frequently asked questions

Q: Where to file a UCC document beginning July 1, 2001?

A: Oklahoma UCC Central Filing Office in the office of Carolynn Caudill, Oklahoma County Clerk.

Q: Types of filings?

A: UCC-1 Initial Financing Statement, UCC-3 Financing Statement Amendment, Continuation, Assignments and Terminations.

Q: File forms?

A: The Oklahoma UCC Central Filing Office will require all filings to be made on forms that meet the requirements of Oklahoma Statute Supp. …

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Okla. County Clerk Explains Benefits of Central Filing of Financial Statements
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