18 N.C. Admin. Code 5B.0302

Current through Register Vol. 39, No. 9, November 1, 2024

Section 05B .0302 - PRIMARY DATA ELEMENTS

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

(1) Identification numbers.

(a) Each initial financing statement shall be identified by its file number as described in G.S. 25-9-519(b). Identification of the initial financing statement shall be stamped on written UCC records or otherwise permanently associated with the record maintained for UCC records in the UCC information management system. A record shall be created in the information management system for each initial financing statement and all information comprising such record shall be maintained in such system. Such record shall be identified by the same information assigned to the initial financing statement.

(b) A UCC record other than an initial financing statement shall be identified by a unique filing number assigned by the filing officer. In the information management system, records of all UCC records other than initial financing statements shall be linked to the record of their related initial financing statement.

(2) Type of record. The type of UCC record from which data is transferred shall be identified in the information management system from information supplied by the remitter.

(3) Filing date and filing time. The filing date and filing time of UCC records shall be stored in the information management system. Calculation of the lapse date of an initial financing statement shall be based upon the filing date.

(4) Identification of parties. The names and addresses of debtors and secured parties shall be transferred from UCC records to the UCC information management system using one or more data entry or transmittal techniques.

(5) Status of financing statement. In the information management system, each financing statement shall have a status of active or inactive.

(6) Page count. The total number of pages in a UCC record shall be 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 shall lapse and, if it does, when it lapses. The lapse date determined as provided in Rule .0405(c) of this Subchapter.

18 N.C. Admin. Code 05B .0302

Authority G.S. 25-9-519(b); 25-9-526(b)(3);
Temporary Adoption Eff. July 2, 2001;
Eff. August 1, 2002;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. November 12, 2014.

Authority G.S. 25-9-519(b); 25-9-526(b)(3);
Temporary Adoption Eff. July 2, 2001;
Eff. August 1, 2002.