AGENCY: Department of Commerce. Division of Corporations and Commercial Code

SERIES: 81220
TITLE: Financing statements
DATES: 1965-
ARRANGEMENT: Numerical by filing number

DESCRIPTION: This is the record of filed security interests created by contract including pledge, assignment, chattel mortgage, chattel trust, trust deed, factor's lien, equipment trust, conditional sale, trust receipt, other lien or title retention contract or lease of consignment intended as security. Filing of the financing statement is necessary to protect the creditor's security interests. See Uniform Commercial Code, UCA 70A Chapter 9. Includes financing statement and statement of continuation, partial release, and assignment. Information includes the debtor's name, address, and social security number or employer identification number; the secured party's name and address; the type of property covered by the financing statement; the gross sale price of the collateral; the name and address of any secured party's assignee; the date and time of filing and the filing number; the signatures of the debtor and secured party; and the dates of continuation, assignment, amendment, or partial release.

RETENTION

Retain for 1 year(s)

DISPOSITION

Destroy.

RETENTION AND DISPOSITION AUTHORIZATION

These records are in Archives' permanent custody.

APPROVED: 06/1987

FORMAT MANAGEMENT

Paper: Retain in Office for 6 months and then microfilm and destroy provided microfilm has passed inspection.

Computer data files: Retain in Office for 1 year after the financing statement is terminated or expires and then delete.

APPRAISAL

Administrative

Previous decision: 77-54: 5 year/public. According to UCA 70A-9-403, a financing statement is good for five years, but it may be continued indefinitely. As a result, no specific retention can be given because, according to the Uniform Commercial Code, the financing statement must be on file as long as it is effective. Section 70A-9-403(4) of the UCA permits microfilming of the document for public inspection. This is recommended both to save space and to provide for a security copy of the financing statement.

PRIMARY DESIGNATION

Public