Uniform Commercial Code (UCC) is a security agreement on personal property that is recorded to protect the lender's, or secured party's, investment. In a security agreement, a loan of money is secured by personal property as collateral, thereby giving the lender rights in the property.

There are three primary types of UCC filings, as described below.

UCC-1: Financing Statement

The UCC-1 form is used in an initial filing of a financing statement. According to (General Statute) G.S. 25-9-402, a financing statement must contain the following information:

• Secured party's name
• Debtor's name
• Debtor's mailing address
• Statement indicating or describing type(s) of collateral

UCC-3: Financing Statement Change

The UCC-3 form is used for five kinds of secondary statements, as follow:

• Continuation of a financing statement
• Termination of a financing statement
• Assignment of a secured party's rights under a financing statement
• Amendment to a financing statement
• Release of all or part of the collateral covered by a financing statement

UCC-11: Request For Information Or Copies

The UCC-11 form is used to request information on a particular debtor, which details any active financing statement(s).

UCC Recording Fees

UCC-1 $38.00
UCC-3 $38.00
UCC-11 $38.00 per debtor, plus
$ 2.00 per page