N.J. Admin. Code § 17:33-7.2

Current through Register Vol. 56, No. 24, December 18, 2024

Section 17:33-7.2 - Primary data elements

(a) The primary data elements used in the UCC information management system are the following:

1. Identification numbers. UCC filings are identified as set forth below.

i. Each initial financing statement is identified by a unique file number. A record is created in the information management system for each initial financing statement.

ii. A UCC filing other than an initial financing statement is identified by the unique file number assigned by DORES. In the information management system, a record of a UCC filing other than initial financing statement is linked with its associated initial financing statement using the file number.

2. Type of filing. The type of UCC filing from which data is transferred is identified in the information management system from information supplied by the remitter.

3. Filing date and filing time. The filing date and time of a UCC filing are stored in the information management system. Calculation of the lapse date of an initial financing statement is based upon the filing date.

4. Identification of parties. The names and addresses of debtors and secured parties are transferred from UCC filings to the UCC information management system.

5. Status of financing statement. In the information management system, each financing statement has a status of active or inactive.

6. Page count. The total number of pages in a UCC filing is maintained in the information management system.

7. Lapse indicator. An indicator is maintained by which the information management system identifies whether or not a financing statement will lapse and, if it does, when it will lapse.

8. Names of debtors who are individuals. For the purpose of this procedure, "individual" means a human being, or a decedent in the case of a debtor that is such decedent's estate. This procedure applies to the name of a debtor or a secured party on a UCC filing who is an individual.

i. Individual's names. The names of individuals are stored. From July 1, 2001 forward, space is provided for first, middle (given), and last names (surnames or family names) of individuals. A filer should place the name of a debtor with a single name (for example, "Cher") in the last name field of the filing form. DORES assumes no responsibility for the accurate designation of the components of a name, but will accurately enter the data in accordance with the filer's designations.

ii. Titles and prefixes before names. Titles and prefixes, such as "doctor," "reverend," "Mr." and "Ms." should not be entered in the UCC information management system. When a UCC document is submitted with designated name fields, the name data will be entered in the UCC information management system as it appears, but without the titles and prefixes.

iii. Titles and suffixes after names. Titles or indications of status such as "M.D." and "esquire" are not part of an individual's name and should not be provided by filers in UCC filings. Suffixes that indicate which individual is being named, such as "senior," "junior," "I," "II," and "III" are appropriate. In either case, the name data will be entered into the information management system as they appear, but without the titles and suffixes that indicate status.

iv. Truncation--individual names. Personal name fields in the UCC database are fixed in length. Although filers should continue to provide full names on their UCC filings, a name that exceeds the fixed length is entered as presented to DORES up to the maximum length of the data entry field, which is 100 characters, including spaces.

9. Names of debtors that are organizations. This procedure applies to the name of an organization that is a debtor or a secured party on a UCC filing.

i. Single field. The names of organizations are stored and are distinguished from individuals from July 1, 2001 forward.

ii. Truncation--organization names. The organization name field in the UCC database is fixed in length. The maximum length of the data field is 100 characters, including spaces. Although filers should continue to provide full names on their UCC filings, a name that exceeds the fixed length is entered as presented to the DORES up to the maximum length of the data field.

N.J. Admin. Code § 17:33-7.2

Amended by 47 N.J.R. 908(a), effective 5/4/2015.

Adopted by 55 N.J.R. 2419(a), effective 12/4/2023