Utah Administrative Code
Topic - Commerce
Title R154 - Corporations and Commercial Code
Rule R154-2 - Utah Uniform Commercial Code, Revised Article 9 Rules
Section R154-2-301 - Primary Data Elements
Universal Citation: UT Admin Code R 154-2-301
Current through Bulletin 2024-18, September 15, 2024
(1) The primary data elements used in the UCC information management system are:
(a) identification numbers;
(b) type of record;
(c) filing date and filing time;
(d) identification of parties;
(e) page count;
(f) lapse indicator; and
(g) indexes of names.
(2)
(a)
Each initial financing statement is identified by its file number:
(i) Identification of the initial financing
statement is stamped on written UCC records or otherwise permanently associated
with the record maintained for UCC records in the UCC information management
system; and
(ii) A record is
created in the UCC information management system for each initial financing
statement and information comprising the record is maintained in the
system.
(b) A UCC record
other than an initial financing statement is identified by a unique file number
assigned by the filing office. In the UCC information management system,
records of UCC records other than initial financing statements are linked to
the record of their related initial financing statement;
(3)
(a) The
type of UCC record from which data is transferred is identified in the UCC
information management system from information supplied by the remitter;
and
(b) Types of records include
initial financing statement, amendment, assignment, continuation, termination,
and collateral amendment.
(4)
(a) The
filing date and filing time of UCC records are stored in the UCC information
management system; and
(b)
Calculation of the lapse date of an initial financing statement is based upon
the filing date.
(5) The names and addresses of debtors and secured parties are transferred from UCC records to the UCC information management system.
(6) The total number of pages in a UCC record is maintained in the UCC information management system.
(7)
(a) An
indicator is maintained by which the UCC information management system
identifies whether or not a financing statement will lapse and, if it does,
when it will lapse; and
(b) The
lapse date is determined as provided in Sections
R154-2-306 and
R154-2-308.
(8)
(a) The
filing office maintains in the UCC information management system a searchable
index of organization debtor names, and a searchable index of organization
debtor names, and a searchable index of individual debtor names; and
(b) The filing office may also maintain a
searchable index of names of secured parties of record. This index need not be
a separate database but may be comprised of records in the UCC information
management system identified to be included in the searchable
index.
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