Michigan Administrative Code
Department - State
Office of Customer Services
Uniform Commercial Code Filing Office
Part 1 - GENERAL PROVISIONS
Section R. 440.102 - Definitions
Universal Citation: MI Admin Code R. 440.102
Current through Vol. 24-16, September 15, 2024
Rule 102.
(1) As used in these rules:
(a) "Amendment" as
described in section 9512 of the UCC, MCL
440.9512, includes assignments,
continuations, and terminations.
(b) "Assignment" means an amendment that
purports to reflect an assignment of all or a part of a secured party's power
to authorize an amendment to a financing statement.
(c) "File number" means the unique
identification number assigned to an initial financing statement by the filing
officer t o i d e n t i f y the initial financing statement and permanently
associate the initial financing statement with all financing statements related
to it in the UCC information management system. The filing number bears no
relation to the time of filing and is not an indicator of priority.
(d) "Filing office" and "filing officer" mean
the UCC section of the office of secretary of state or its successor.
(e) "Individual" means a human being, or a
decedent in the case of a debtor that is the decedent"s estate.
(f) "Information statement" means a record
that indicates, under section 9518 of the UCC, MCL
440.9518, that a financing
statement is inaccurate or wrongfully filed.
(g) "Initial financing statement" means a
financing statement containing the information required by section 9502 of the
UCC, MCL 440.9502, which, when filed,
creates the initial record in the UCC information management system.
(h) "Remitter" means a person that tenders a
financing statement 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
financing statement to the filing office, such as the postal service or a
courier service, but does include a service provider who acts as a filer"s
representative in the filing process.
(i) "UCC" means the uniform commercial code,
1962 PA 174, MCL
440.1101 to
440.9994.
(j) "UCC information management system" means
the information management system used by the filing officer to store, index,
and retrieve information relating to financing statements.
(k) "Unique identification number" or
"identification number" means a number that includes the year of filing
expressed as the first 4 digits of a unique number assigned to the financing
statement by the filing office and a 1-digit verification number, referred to
as a check digit, assigned by the filing office, but mathematically derived
from other numbers in the unique number.
(2) A word or term defined in the UCC has the same meaning when used in these rules.
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