New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 33 - UNIFORM COMMERCIAL CODE RULES
Subchapter 7 - UCC INFORMATION MANAGEMENT SYSTEM
Section 17:33-7.5 - Initial financing statement, status of parties, and status of statement, including calculation of lapse date

1. Each secured party named on an initial financing statement shall be a secured party of record, except that if the UCC document names an assignee, the secured party/assignor shall not be a secured party of record and the secured party/assignee shall be a secured party of record;

2. The status of a debtor named on the document shall be active and shall continue as active until one year after the financing statement lapses; and

3. The status of the financing statement shall be active. A lapse date shall be calculated, five years from the file date, unless the initial financing statement indicates that it is filed with respect to a manufactured-home transaction, in which case the lapse date shall be 30 years from the file date, or if the initial financing statement indicates that it is filed against a transmitting utility, in which case there shall be no lapse date. A financing statement remains active until one year after it lapses, or if it is indicated to be filed against a transmitting utility, until one year after it is terminated with respect to all secured parties of record.