1. (1)(a) A financing statement must remain in the searchable index within the UCC information management system until at least one year after it lapses.

   1. (b) On or after the first anniversary of a lapse, the financing statement and all related UCC records may be removed from the Searchable Indexes or from the UCC information management system.

2. (2)(a) A financing statement that states a debtor is a transmitting utility must remain in the searchable index within the UCC information management system until at least one year after it is terminated with respect to all secured parties of record.

   1. (b) On or after the first anniversary of the termination date of the last remaining secured party of record, the financing statement may be removed from its searchable index or from the UCC information management system.

KEY: banking, equipment leasing, filing documents

Date of Last Change: September 21, 2022

Notice of Continuation: November 12, 2025

Authorizing, and Implemented or Interpreted Law: 70A-9a et seq.