May 24, 2017

UCC Filings

UCC is an acronym for the words Uniform Commercial Code and are notices of financing statements.  “…the office in which to file a financing statement to perfect the security interest or agricultural lien is the office designated for the filing or recording of a record of a mortgage on the related real property “(in the State of South Dakota that office is the County Register of Deeds) “ if the collateral is as-extracted collateral or timber to be cut; or the financing statement is filed as a fixture filing and the collateral is goods that are or are to become fixtures.”  (SDCL 57A-9-501)   In all other cases, the office of the Secretary of State .  (See Secretary of State’s website for UCC Information and Links)

As of July 1st, 2004, there was a new law enacted (SDCL 57A-9-501.2) Allowing fixture filings and as-extracted collateral of timber to be cut to be filed online with the Secretary of State’s office.

FORMS FOR FILING UCCS:  Download from UCC and EFS Forms

When Filing at the County Level be sure to Remember the Following:

A FULL LEGAL DESCRIPTION OF THE PROPERTY WHERE THE FIXTURE OR EXTRACTED COLLATERAL OR TIMBER IS LOCATED.  (57A-9-516(b)(3)(D)  (A legal description does not mean a mailing address of the property)

The fee for filing a UCC I, II or III. Fee Schedule

If the debtor is an organization, we must have the type of organization, jurisdiction of organization and their organizational number.  (For instance if the organization is a corporation in the State of South Dakota, their jurisdiction would be South Dakota Secretary of State, the type of organization would be a Corporation and their organizational number would be the number the Secretary assigned the Corporation.  In the State of South Dakota this number can be found on the Annual Report in the upper left hand corner above the debtor’s name or click on this Search Corporate Database

Basically the forms need to be completed fully or we are required to reject them.  (See SDCL 57A-9-516 for a full list of reasons we are required to reject a UCC filing Instructions for Filing UCC 1

For information concerning Article 9, SDCL Chapter 57A-9

DO NOT FAX UCC-1 OR UCC-III’S TO THIS OFFICE, AS THEY WILL NOT BE ACCEPTED FOR FILING.

 

Return to Register of Deeds page

Return to Recording of Real Estate Documents page