North Carolina Administrative Code › Title 18 - SECRETARY OF STATE › Chapter 05 - UNIFORM COMMERCIAL CODE DIVISION › Subchapter B - UNIFORM COMMERCIAL CODE SECTION › Section .0100 - GENERAL PROVISIONS › Section 05B .0102 - DEFINITIONS

Current through Register Vol. 39, No. 2, July 15, 2024
In addition to the definitions contained in
					 G.S.
					 25-9-102, the following terms shall have the
					 respective meanings and shall apply to the rules in this Subchapter:
(1) "Amendment" means a UCC record that
				  amends the information contained in a financing statement. Amendments include
				  assignments, continuations and terminations.
(2) "Assignment" is an amendment that assigns
				  all or part of a secured party's power to authorize an amendment to a financing
				  statement.
(3) "Business to
				  Government (B2G)" relationship means business to government electronic
				  communication and interaction which facilitates the transfer of XML files and
				  documents between business and government, including, but not limited to,
				  electronic filing and on-line searches.
(4) "Correction statement" means a UCC record
				  that indicates that a financing statement is inaccurate or wrongfully
				  filed.
(5) "E-filing account" means
				  the account number a remitter shall be assigned upon subscribing to this method
				  of payment
(6) "Filing office" and
				  "filing officer" mean the Uniform Commercial Code (UCC) Section of the North
				  Carolina Department of the Secretary of State.
(7) "Filing officer statement" means a
				  statement entered into the filing office's information system to correct an
				  error by the filing office.
(8)
				  "FTP site" means the Department's repository that stores UCC filing record data
				  and makes the raw data accessible to subscribers over the internet via file
				  transfer protocol.
(9) "Individual"
				  means a human being, or a decedent in the case of a debtor that is such
				  decedent's estate.
(10) "Initial
				  financing statement" means a UCC record containing the information required to
				  be in an initial financing statement and that causes the filing office to
				  establish the initial record of existence of a financing statement.
(11) "Organization" means a legal person who
				  is not an individual.
(12)
				  "Processing fee" means the fee remitted to the filing office for filing and
				  indexing a UCC record.
(13)
				  "Remitter" means a person who tenders a UCC record to the filing officer for
				  filing, whether the person is a filer or an agent of a filer responsible for
				  tendering the record for filing. "Remitter" does not include a person
				  responsible merely for the delivery of the record to the filing office, such as
				  the postal service or a courier service but does include a service provider who
				  acts as a filer's representative in the filing process.
(14) "UCC" means the Uniform Commercial Code
				  as adopted in North Carolina.
(15)
				  "UCC record" means an initial financing statement, an amendment, an assignment,
				  a continuation, a termination, a filing officer statement, or a correction
				  statement and shall not be deemed to refer exclusively to paper or paper-based
				  writings.
Authority
					 G.S.
					 25-9-102;
					 25-9-526;
Temporary
					 Adoption Eff. July 2, 2001;
Eff. August 1, 2002;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 12,
					 2014.