Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Section 140.02 - Definitions

Current through Register 1525, July 5, 2024
For the purposes of
				950 CMR 140.00
et
				seq
., the following words and abbreviations shall, unless the context
				otherwise indicates, have the following meanings:
Active Record
means a UCC record that
				has been stored in the UCC information management system and indexed in, but
				not yet removed from, the searchable index.
Address
means either:
(a) street address, route number (may include box) or P.O. box
				number plus the city, state and zip code; or
(b) an address that purports to be a mailing address outside
				the United States.
Amendment
means a UCC record that
				purports to amend the information contained in a financing statement.
				Amendments include assignments, continuations and terminations.
Assignment
is 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.
Continuation
means an amendment that
				purports to continue the effectiveness of a financing statement.
Electronic Transmission
means any
				method accepted by the Secretary of the Commonwealth for the transmission by
				electronic format of financing statements, request for information or
				associated information.
File Number
means the unique
				identifying information assigned to a UCC record by the filing officer for the
				purpose of identifying the record in the filing officer's information
				management system. For a filing made prior to February 19, 2001, the file
				number is an eight-digit number. The first two digits indicate the year the
				record was filed. For filings made on or after February 19, 2001, the file
				number is a 12-digit number. The file number includes three segments: the year
				of the filing expressed as a four-digit number, followed by a unique six-digit
				number and ending with a two-digit verification number assigned algorithmically
				(the "check digit").
Filer
means a person providing
				information in a Uniform Commercial Code record or information request, or a
				service provider who acts as a filer's representative in the filing process,
				but does not include a person responsible merely for the delivery of the
				document to the filing office, such as the postal service or a courier
				service.
Filing Office
and
Filing
				Officer
mean the Office of the Secretary of the
				Commonwealth.
Filing Officer Statement
means a
				statement entered into the filing office's UCC information management system to
				correct an error made by the filing officer.
Financing Statement
means a record or
				records composed of an initial financing statement and any filed records
				relating to the initial financing statement.
Individual
means a human being, or a
				decedent in the case of a debtor that is such decedent's estate.
Information Statement
means a UCC
				record that indicates that a financing statement is inaccurate or wrongfully
				filed.
Initial Financing Statement
means a
				financing statement containing the information required by M.G.L. c. 106,
				§ 9-502, which, when filed, creates the initial record in the Uniform
				Commercial Code information management system. A UCC record that does not
				identify itself as an amendment or identify an initial financing statement to
				which it relates, as required by M.G.L. c. 106, § 9-512, 9-514 or 9-518 is
				an initial financing statement.
Lapse Date
means the same date of the
				same month in the fifth year after filing or in the relevant subsequent fifth
				anniversary if a timely continuation statement has been filed. If the initial
				financing statement indicates that it is filed with respect to public finance
				or manufactured home transaction, the lapse date is the same day of the month
				in the 30th year after filing. In the case of a leap
				year, the relevant anniversary date for a February
				29th filing date shall be March
				1st in the fifth or 30th
				year following the date of filing. The last day on which a continuation may be
				filed is the date upon which the financing statement lapses. A lapse date is
				calculated for each initial financing statement unless the debtor is indicated
				to be a transmitting utility.
Legible
means a communication which
				may be understood. It is not limited to refer only to written expressions on
				paper: it requires a machine-readable transmission for electronic transmissions
				and an otherwise readily decipherable transmission in other cases.
Online Access
means access to the
				Uniform Commercial Code information management system and those programs
				associated with the viewing, searching, and remote filing functions of the
				Uniform Commercial Code information management system by a remote data
				connection.
Organization
means a legal person who
				is not an individual as defined in 950 CMR 140.02.
Secured Party of Record
means, with
				respect to a financing statement, a person whose name is provided as the name
				of a secured party or a representative of the secured party in an initial
				financing statement that has been filed. If an initial financing statement is
				filed under M.G.L. c. 106, § 9-514(a), the assignee named in the initial
				financing statement is the secured party of record with respect to the
				financing statement. If an amendment of a financing statement which provides
				the name of a person as a secured party or a representative of a secured party
				is filed under M.G.L. c. 106, § 9-514(b), the assignee named in the
				amendment is a secured party of record. A secured party of record includes a
				person who has been a secured party of record where an amendment has been filed
				purporting to delete them as a secured party of record.
Termination
means an amendment
				intended to indicate either that it is a termination statement or that the
				related financing statement is no longer effective with respect to the secured
				party authorizing the termination.
Through Date
means the latest date and
				time for which all records have been entered into the Uniform Commercial Code
				information management system.
UCC
means the Uniform Commercial Code
				as enacted in Massachusetts and in effect from time to time.
UCC Information Management System
means the integrated data and imaging system maintained by the Office of the
				Secretary of the Commonwealth.
XML
means Extensible Markup
				Language.
XML Record
means a UCC record
				transmitted from a filer to the filing officer as provided in
				950 CMR
				140.44.