Okla. Stat. tit. 12A § 1-9-521

Current through Laws 2024, c. 453.

Section 1-9-521 - Uniform form of written financing statement and amendment

(a) A filing office that accepts written records may not refuse to accept a written initial financing statement in the following form and format, except for a reason set forth in subsection (b) of Section 1-9-516 of this title:

UCC FINANCING STATEMENT

FOLLOW INSTRUCTIONS

A. NAME AND PHONE OF CONTACT AT FILER (optional)

_____________________________________________

B. E-MAIL CONTACT AT FILER (optional)

C. SEND ACKNOWLEDGMENT TO: (Name and Address)

________________________________________

________________________________________ THE ABOVE SPACE IS FOR

________________________________________ FILING OFFICE USE ONLY

1. DEBTOR'S NAME provide only one Debtor name (1a or 1b) (use exact, full name; do not omit, modify, or abbreviate any word in the Debtor's name)

1a. ORGANIZATION'S NAME

_______________________________________________________________

1b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME

_______________________________________________________________

ADDITIONAL NAME(S)/INITIAL(S) THAT ARE PART OF THE NAME OF THIS

DEBTOR SUFFIX

________________________________________ _______________

1c. MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY

_______________________________________________________________

2. DEBTOR'S NAME - provide only one Debtor name (2a or 2b)(use exact, full name; do not omit, modify, or abbreviate any word in the Debtor's name)

2a. ORGANIZATION'S NAME

_______________________________________________________________

2b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME

_______________________________________________________________

ADDITIONAL NAME(S)/INITIAL(S) THAT ARE PART OF THE NAME OF THIS

DEBTOR SUFFIX

________________________________________ _______________

2c. MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY

_______________________________________________________________

3. SECURED PARTY'S NAME (or NAME of ASSIGNEE of ASSIGNOR SECURED PARTY) provide only one Secured Party name (3a or 3b)

3a. ORGANIZATION'S NAME

_______________________________________________________________

3b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME

_______________________________________________________________

ADDITIONAL NAME(S)/INITIAL(S) SUFFIX

________________________________________ __________________

3c. MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY

_______________________________________________________________

4. COLLATERAL: This financing statement covers the following collateral:

_______________________________________________________________

5. Check only if applicable and check only one box:

Collateral is: [ ] held in a Trust (see instructions)

[ ] being administered by a Decedent's Personal Representative.

6a. Check only if applicable and check only one box:

[ ] Public-Finance Transaction

[ ] Manufactured-Home Transaction

[ ] A Debtor is a Transmitting Utility

6b. Check only if applicable and check only one box:

[ ] Agricultural Lien [ ] Non-UCC Filing

7. ALTERNATIVE DESIGNATION (if applicable):

[ ] Lessee/Lessor

[ ] Consignee/Consignor

[ ] Seller/Buyer

[ ] Bailee/Bailor

[ ] Licensee/Licensor

8. OPTIONAL FILER REFERENCE DATA

_______________________________________________________________

UCC FINANCING STATEMENT (Form UCCI)

UCC FINANCING STATEMENT ADDENDUM

FOLLOW INSTRUCTIONS

9. NAME OF FIRST DEBTOR (same as item 1a or 1b on Financing Statement)

9a. ORGANIZATION'S NAME

_______________________________________________________________

9b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME

_________________________ __________________________

ADDITIONAL NAME(S)/INITIAL(S) SUFFIX

_______________________________________________ _______

________________________________________ THE ABOVE SPACE IS FOR

________________________________________ FILING OFFICE USE ONLY

10. ADDITIONAL DEBTOR'S NAME provide only one Debtor name (10a or 10b) - (use exact, full name; do not omit, modify, or abbreviate any word in the Debtor's name)

10a. ORGANIZATION'S NAME

_______________________________________________________________

10b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME

______________________________________________________

ADDITIONAL NAME(S)/INITIAL(S) THAT ARE PART OF THE NAME OF THIS

DEBTOR SUFFIX

________________________________________ _______________

10c. MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY

_______________________________________________________________

11. [ ] ADDITIONAL SECURED PARTY'S NAME or [ ] ASSIGNOR SECURED PARTY'S NAME provide only one name (11a or 11b)

11a. ORGANIZATION'S NAME

_______________________________________________________________

11b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME

_______________________________________________________________

ADDITIONAL NAME(S)/INITIAL(S) SUFFIX

___________________________________________ ___________

11c. MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY

_______________________________________________________________

12. ADDITIONAL SPACE FOR ITEM 4 (Collateral)

______________________________________________________________

13. This FINANCING STATEMENT is to be filed (for record) (or recorded) in the REAL ESTATE RECORDS (if applicable)

14. This FINANCING STATEMENT:

[ ] covers timber to be cut [ ] covers as-extracted collateral [ ] is filed as a fixture filing

15. Name and address of a RECORD OWNER of the real estate described in item 16 (if Debtor does not have record interest):

_______________________________________________________________

16. Description of real estate:

_______________________________________________________________

17. MISCELLANEOUS:

______________________________________________________________

(b) A filing office that accepts written records for filing may not refuse to accept a written financing statement amendment in the following form, except for a reason set forth in subsection (b) of Section 1-9-516 of this title:

UCC FINANCING STATEMENT AMENDMENT

FOLLOW INSTRUCTIONS

A. NAME AND PHONE OF CONTACT AT FILER (optional)

_______________________________________________________________

B. E-MAIL CONTACT AT FILER (optional)

_______________________________________________________________

C. SEND ACKNOWLEDGMENT TO: (Name and Address)

________________________________________

________________________________________ THE ABOVE SPACE IS FOR

________________________________________ FILING OFFICE USE ONLY

1a. INITIAL FINANCING STATEMENT FILE NUMBER

_______________________________________________________________

1b. [ ] This FINANCING STATEMENT AMENDMENT is to be filed (for record) (or recorded) in the REAL ESTATE RECORDS.

Filer: attach Amendment Addendum (Form UCC3Ad) and provide Debtor's name in item 13.

2. [ ] TERMINATION: Effectiveness of the Financing Statement identified above is terminated with respect to security interest(s) of Secured Party authorizing this Termination Statement.

3. [ ] ASSIGNMENT (full or partial): Provide name of Assignee in item 7a or 7b, and address of Assignee in item 7c and name of Assignor in item 9. For partial assignment, complete items 7 and 9 and also indicate affected collateral in item 8.

4. [ ] CONTINUATION: Effectiveness of the Financing Statement identified above with respect to security interest(s) of Secured Party authorizing this Continuation Statement is continued for the additional period provided by applicable law.

5. [ ] PARTY INFORMATION CHANGE:

Check one of these two boxes:

This Change affects [ ] Debtor or [ ] Secured Party of record.

AND

Check one of these three boxes to:

[ ] CHANGE name and/or address: Complete item 6a or 6b, and item 7a or 7b and item 7c.

[ ] ADD name: Complete item 7a or 7b, and item 7c.

[ ] DELETE name: Give record name to be deleted in item 6a or 6b.

6. CURRENT RECORD INFORMATION: Complete for Party Information Change provide only one name (6a or 6b) (use exact, full name; do not omit, modify, or abbreviate any word in the Debtor's name).

6a. ORGANIZATION'S NAME

_______________________________________________________________

6b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME

_______________________________________________________________

ADDITIONAL NAME(S)/INITIAL(S) SUFFIX

___________________________________ __________________

7. CHANGED OR ADDED INFORMATION: Complete for Assignment or Party Information Change provide only one name (7a or 7b) (use exact full name; do not omit, modify, or abbreviate any word in the Debtor's name).

7a. ORGANIZATION'S NAME

_______________________________________________________________

7b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME

_______________________________________________________________

ADDITIONAL NAME(S)/INITIAL(S) THAT ARE PART OF THE NAME OF THISDEBTOR SUFFIX

_______________________________________________________________

7c. MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY

_______________________________________________________________

8. [ ] COLLATERAL CHANGE:

_______________________________________________________________

Also check one of these four boxes:

[ ] ADD collateral [ ] DELETE collateral [ ] RESTATE covered collateral [ ] ASSIGN collateral

Indicate collateral:

_______________________________________________________________

9. NAME OF SECURED PARTY OF RECORD AUTHORIZING THIS AMENDMENT - provide only one name (9a or 9b) (name of Assignor, if this is an Assignment).

If this is an Amendment authorized by a DEBTOR, check here [ ] and provide name of authorizing Debtor.

9a. ORGANIZATION'S NAME

_______________________________________________________________

9b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME

_______________________________________________________________

ADDITIONAL NAME(S)/INITIAL(S) SUFFIX

___________________________________ _____________

10. OPTIONAL FILE REFERENCE DATA

_______________________________________________________________

UCC FINANCING STATEMENT AMENDMENT (FORM UCC3)

UCC FINANCING STATEMENT AMENDMENT ADDENDUM

FOLLOW INSTRUCTIONS

11. INITIAL FINANCING STATEMENT FILE NUMBER (same as item 1a on Amendment form).

_______________________________________________________________

12. NAME OF PARTY AUTHORIZING THIS AMENDMENT (same as item 9 on Amendment form).

12a. ORGANIZATION'S NAME

_______________________________________________________________

12b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME

_______________________________________________________________

ADDITIONAL NAME(S)/INITIAL(S) SUFFIX

_______________________________________ __________________

________________________________________ THE ABOVE SPACE IS FOR

________________________________________ FILING OFFICE USE ONLY

13. Name of DEBTOR on related financing statement (Name of a current Debtor of record required for indexing purposes only in some filing offices see Instruction for item 13 insert only one Debtor name (13a or 13b) (use exact, full name; do not omit, modify, or abbreviate any word in the Debtor's name).

13a. ORGANIZATION'S NAME.

_______________________________________________________________

13b. INDIVIDUAL'S SURNAME FIRST PERSONAL NAME

_______________________________________________________________

ADDITIONAL NAME(S)/INITIAL(S) SUFFIX

_____________________________________________________________

14. ADDITIONAL SPACE FOR ITEM 8 (Collateral)

_____________________________________________________________

15. This FINANCING STATEMENT AMENDMENT: [ ] covers timber to be cut [ ] covers as-extracted collateral [ ] is filed as a fixture filing.

16. Name and address of a RECORD OWNER of real estate described in item 17 (if Debtor does not have a record interest):

______________________________________________________________

17. Description of real estate:

______________________________________________________________

18. MISCELLANEOUS:

______________________________________________________________

UCC FINANCING STATEMENT AMENDMENT ADDENDUM (Form UCC3Ad)

(c) A form that a filing office may not refuse to accept under subsection (a) or (b) of this section must conform to the format prescribed for the form by the National Conference of Commissioners on Uniform State Laws.

Okla. Stat. tit. 12A, § 1-9-521

Amended by Laws 2015 , c. 374, s. 15, eff. 11/1/2015.

Added by Laws 2000 , SB 1519, c. 371, § 99, eff. 7/1/2001.

Oklahoma Code Comment

The new model form at section 9-521 suggests three points for the practitioner:

First, there is a relationship between the section 9-521 safe-harbor form and the requirements for filing under section 9-516(b) . The practitioner would do well to use the section 9-521 form, because it satisfies the requirements of section 9-516 and precludes rejection by the Filing Officer.

Second, the basic requirements for a Financing Statement are set out in section 9-502 ; but the model form of section 9-521 goes beyond what is required in section 9-502 . While there are good reasons for the extra information, the result is that a secured party relying on section 9-502 rather than section 9- 521 may have its financing statement rejected under section 9-520 and be unperfected under section 9-516 . See generally Christopher S. Bose, A Trap for the Unwary: Revised UCC Article 9's Deceptive Technical Guillotine for Financing Statements, 55 Consumer Fin. L.Q. Rep. 141 (2001). Thus, proper use of the section 9-521 model form avoids the possibility of rejection by the Filing Officer. If a box is left blank in the section 9-521 model form, it may be rejected under section 9-516(b) and section 9-520(a), even if that information is not required under section 9-502 . However, if erroneous information is supplied, the model form will not be rejected (and will not violate the seriously misleading requirements of section 9-506 ) unless the error relates to the debtor's name under section 9-503 .

Under section 9-506(a) , an error in the information on the financing statement does not impair perfection unless it is seriously misleading, but under section 9-506(b) and the Article 9 filing system only an error in the debtor's name (under section 9-503 ) is likely to be seriously misleading. Other errors could result in loss of priority to a reliance party who can show a resulting detriment, but this is likely to be a rare occurrence, as most other errors will not mislead a searching party as to the existence of the filed financing statement. Revised Article 9 rejects cases holding that an error in the secured party's name precludes perfection (e.g., In re Leach, 1997 Bankr. LEXIS 321 (M.D. Tenn. 1997)), and affirms cases holding that other minor errors are not fatal to perfection. See, e.g., In re Suddarth, 1998 Bankr. LEXIS 858 (N.D. Okla. 1998). However, if the secured party's name is not correct, it may not receive important notices from the Clerk, e.g., the filing by the debtor of rogue documents. See sections 9-513 and 9-518 .

Third, the secured party may not be required to use the model form of section 9-521 ; if the financing statement does not meet the requirements of sections 9- 516 and 9-521, but is nonetheless accepted by the filing office, its effectiveness will be determined under sections 9-502, 9-503 and 9-506 . See section 9-520 ; Bose, supra. But if the secured party does use the model form, it will incur a lower filing fee.