Ohio Administrative Code › Title 111:1 - Corporate Filing › Chapter 111:1-3 - UCC Filing › Section 111:1-3-01 - Definitions

Current through all regulations passed and filed through July 1, 2024
Terms used in these filing-office rules that are defined in the
				UCC and not otherwise defined in this rule shall have the respective meanings
				accorded such terms in the UCC.
(A)
			 "Address" means information provided as an address on a UCC record as long as
			 it includes at least a city and a state or foreign country.
(B) "Amendment" means any UCC record filed
			 that relates to the initial financing statement. Amendments include party or
			 collateral changes, assignments, continuations and terminations.
(C) "Assignment" is an amendment that assigns
			 all or a part of a secured party's power to authorize an amendment to a
			 financing statement.
(D)
			 "Information statement" means a UCC record that indicates a financing statement
			 is inaccurate or wrongfully filed.
(E) "Filing office" means the office of the
			 Ohio secretary of state.
(F)
			 "Filing office statement" means a statement entered into the filing office's
			 UCC information management system to explain an action by the filing office to
			 correct an error made by the filing office.
(G) "Initial financing statement" means a UCC
			 record that causes the filing office to establish the initial record of filing
			 of a financing statement.
(H)
			 "Remitter" means a person who tenders a UCC record to the filing office for
			 filing, whether the person is a filer or an agent of a filer responsible for
			 tendering the record for filing.
(I) "Searchable
			 indexes" means the searchable index of individual debtor names and the
			 searchable index of organization debtor names the filing office must maintain
			 in the UCC information management system.
(J) "Secured party of record" means every
			 party designated as a secured party in a financing statement, including those
			 for whom an amendment has been filed purporting to delete them as a secured
			 party or purporting to indicate they have assigned their secured interest,
			 except as provided in paragraph (A) of rule 111:1-3-23 of  the Administrative Code.
(K) "UCC' means the uniform
			 commercial code as adopted in the state of Ohio.
(L) "UCC information management system" means
			 the information management system used by the filing office to store, index,
			 and retrieve information relating to financing statements as described in these
			 filing-office rules.
(M) 'UCC
			 record" means an initial financing statement, an amendment of party or
			 collateral information, an assignment, a continuation statement, a termination
			 statement, a filing office statement or an information statement.
(N) "Unlapsed record" means a UCC record that
			 has been stored and indexed in the UCC information management system, which has
			 a lapse date that has not yet occurred.
Effective:
				2/2/2020
Five Year Review (FYR) Dates:
				1/15/2021
Promulgated Under:
				  119.03
Statutory Authority: R.C.   1309.526
Rule
				Amplifies: R.C.   1309.102,   1309.511,   1309.512,   1309.518,   1309.519
Prior Effective Dates: 07/03/2001 (Emer.), 09/20/2001, 01/07/2011,
				01/25/2016