Current through Register Vol. 47, No. 5, March 10, 2024
1.1 Definitions.
The following terms are used as defined in this rule. Terms not defined in this
rule, which are defined in the UCC, the Central Filing of Effective Financing
Statement Act, the Colorado Statutory Lien Registration Act, or section
24-21-301, C.R.S., are used as
defined in the applicable Act or section.
1.1.1 "Address" means either:
(a) A street address, route number (may
include box), or post office box number plus the city, state, and zip code;
or
(b) An address that purports to
be a mailing address outside the United States of America.
1.1.2 "Assignment" means an amendment that
purports to reflect a transfer of all or a part of a secured party's or
claimant's power to authorize an amendment of a secured transaction
record.
1.1.3 "Direct computer
access" means access by computer to information or data available on the series
of interrelated Internet pages on the Secretary of State's website, and by
other means of data transfer.
1.1.4
"EFS" means effective financing statement as that term is used in the EFS
Act.
1.1.5 The "EFS Act" means the
Central Filing of Effective Financing Statement Act, Article
9.5 of Title
4, C.R.S.
1.1.6 "Electronic filing" means a filing
method that utilizes the Secretary of State's electronic filing application
available through the Secretary of State's website or the system-to-system
transfer method.
1.1.7 "Electronic
filing application" means the web-based computer application that is used to
file a secured transaction record with the Secretary of State.
1.1.8 "Electronic searching application"
means the web-based computer application that is used to search the secured
transaction records maintained by the Secretary of State.
1.1.9 "File number" means the unique
identifying number the Secretary of State assigns to a secured transaction
record.
1.1.10 "Filer" means a
person who completes and submits a secured transaction record to the Secretary
of State for filing, whether or not the person is an agent of a person
authorized to submit the record for filing.
1.1.11 "Information statement" means a UCC
record claiming that a financing statement or record comprising part of a
financing statement is inaccurate or wrongfully filed.
1.1.12 "Initial financing statement" means a
UCC record that does not identify itself as an amendment or information
statement, or does not identify an initial financing statement to which it
relates.
1.1.13 "Lapsed" or "Lapsed
record" means a master record whose period of effectiveness has
expired.
1.1.14 "Lien Registration
Act" means the Colorado Statutory Lien Registration Act, Article
9.7 of Title
4, C.R.S.
1.1.15 "Master record" means a record opening
document and any amendment or correction related to the record opening
document.
1.1.16 "Online services"
means the electronic filing application, the electronic searching application,
the secured transactions information management system, and any other direct
computer access that is available on or accessed through the Secretary of
State's website.
1.1.17 "Record
opening document" means an initial financing statement, an EFS, a notice of
lien, or other record that creates a new master record. The use of the term
"record opening document" in these rules has no relation to the definition of
the term "document" in section
4-9-102(a)(30),
C.R.S.
1.1.18 "Secured transactions
information management system" means the computer system used by the Secretary
of State to record, index, provide public access to, and otherwise manage
secured transaction records.
1.1.19
"Secured transaction record" means any record that is required or permitted to
be filed with the Secretary of State under the UCC, the EFS Act, or the Lien
Registration Act, except any lien filed under federal law.
1.1.20 "System-to-system transfer method"
means the electronic communication standard authorized by the Secretary of
State for the transfer of secured transaction records from a filer to the
Secretary of State. This type of transfer is often referred to as XML
filing.
1.1.21 "Taxpayer
identification number" means a social security number, an employer
identification number, or an individual taxpayer identification
number.
1.1.22 "UCC" means the
Uniform Commercial Code- Secured Transactions, codified at Article
9 of Title
4, C.R.S., as adopted in this
state.
1.1.23 "UCC record" means an
initial financing statement, an amendment, an assignment, a continuation, a
termination, or an information statement filed under the UCC. The use of the
term "UCC record" in these rules has no relation to the definition of the term
"record" in section
4-9-102(a)(72),
C.R.S.
1.1.24 "Unique identifier"
means the ten-digit number used to identify a debtor named in an EFS or an EFS
amendment.
1.1.25 "Unlapsed" or
"Unlapsed record" means a master record on file with the Secretary of State
whose period of effectiveness has not expired.
1.2 Delivery of secured transaction records.
Filers must deliver secured transaction records to the Secretary of State
through the electronic filing application or by transmission using the
system-to-system transfer method. The Secretary of State will refuse to accept
any secured transaction records delivered by other unauthorized methods of
communication, including but not limited to personal delivery, express mail
delivery, postal delivery, and telefacsimile.
1.2.1 Filing time. The filing time for a
secured transaction record is the time that the Secretary of State's system
analyzes the relevant transmission and determines that it received all the
required elements of the transmission in the required format.
1.2.2 Hardship delivery. In the case of
hardship or other good cause, the Secretary of State may, at its discretion,
allow for the communication of a secured transaction record by a method of
communication other than electronic filing. Hardship delivery may only occur
after the filer has received prior approval from the Secretary of State.
Requirements concerning the filing and data entry of a hardship delivery are
set forth in Rule 4.15.
1.2.3
Delivery of federal liens and records. Any lien or record created in accordance
with federal law may be delivered to the Secretary of State by any method of
communication authorized by federal law or by arrangement between the Secretary
of State and the United States Government. The recorded filing time is the
earliest time at which the Secretary has received both the fee payment and the
paper record.
1.3 Search
request delivery. The electronic searching application is the sole method of
conducting a search request and obtaining search request results. An individual
conducting a search or requesting certified search results will only be able to
do so through the electronic searching application of the Secretary of State's
website. Requirements concerning search requests are set forth in Rule 5.2.
1.3.1 Hardship search requests. In the case
of hardship, the Secretary of State may allow for the communication of a
secured transaction search request by a method other than the electronic
searching application. Hardship search requests may only occur after the
searcher has received prior approval from the Secretary of State. Requirements
concerning processing of a hardship search request are set forth in Rule
5.8.
1.4 Approved forms.
The Secretary of State approves the use of the following forms to file a
written financing statement with a filing office that accepts written records
in accordance with the UCC:
1.4.1 UCC forms
promulgated by the International Association of Commercial Administrators
(IACA), or a substantial equivalent.
1.4.2 Printed copies of record images that
are generated by the electronic filing application.
1.5 Secured transactions search application.
Searches of the secured transactions information management system are
performed by utilizing the electronic searching application. Electronic
searching is the sole method used to search the secured transactions
information management system and the Secretary of State does not accept
written search requests.
1.8 Methods of payment. Filing fees and fees
for public records services may be paid in accordance with the following rules:
1.8.1 The Secretary of State will only accept
credit, debit, or prepaid account payments for secured transaction services.
Information regarding usage is available upon request and on the Secretary of
State's website.
1.8.2 The
Secretary of State will accept cash, check, or electronic transfer payments
from the IRS.
1.8.3 In the case of
hardship, the Secretary of State may allow for the payment of fees by an
alternative method of payment authorized by the Secretary of State. Hardship
payment may only occur after the filer has received prior approval from the
Secretary of State.
1.9
Overpayment and underpayment policies.
1.9.1
Overpayment. Information regarding the refund of an overpayment is available
upon request and on the Secretary of State's website.
1.9.2 Underpayment. The electronic filing
application and the system-to-system transfer method will not allow a filer to
submit a record with insufficient fee payment.
1.10 Public records services are provided on
a nondiscriminatory basis to any member of the public on the terms described in
these rules. The following methods are available for obtaining copies of
secured transaction records and copies of data from the secured transactions
information management system:
1.10.1
Individually identified records. Images of individually identified secured
transaction records are available, when possible, via the electronic searching
application.
1.10.2 Bulk images of
secured transaction records. The Secretary of State will provide a bulk image
subscription service.
1.10.3 Data
from the information management system. The Secretary of State will provide a
bulk data subscription service. A list of available data elements from the
secured transactions information management system, with the file layout, is
available from the Secretary of State upon request.
1.10.4 Online services. Secured transactions
data and images are available online from the Secretary of State's website. The
Secretary of State may limit the size and number of data or images in order to
address any technical limitation or to maintain continuity of
service.
1.11 Except as
provided in Rules 1.2.3 , 1.8.3 , and 6.2, liens created under federal law are
recorded, indexed, and managed in the same manner as secured transaction
records.