The UCC-1 filing fee in Ohio is an essential aspect of the Uniform Commercial Code (UCC) filing process. The UCC-1 form is used to register secured transactions, mainly involving personal property, to establish priority rights and prevent conflicts between creditors. Understanding the filing fee and its nuances is crucial for individuals, businesses, and lenders engaging in these transactions within Ohio. In Ohio, the UCC-1 filing fee structure may vary depending on specific factors. The primary determinant is the type of filing being made. Here are some different types of UCC-1 filing fees in Ohio: 1. Original UCC Filing Fee: This fee covers the initial filing of a UCC-1 form to establish a security interest in personal property. It ensures that the filer's claim takes priority over subsequent claims and provides legal protection. The current original UCC-1 filing fee in Ohio is $12 for each document. 2. Additional Party Fee: If multiple parties are involved in a secured transaction, such as two or more lenders, an additional party fee may apply. The fee per additional party is $5 when submitting the UCC-1 form. 3. UCC-3 Amendments Fee: When amending or continuing an existing UCC-1 filing, a UCC-3 form is used. Ohio charges a fee of $12 for each UCC-3 amendment. 4. UCC-5 Information Statement Fee: UCC-5 forms are used to provide public notice concerning certain facts not covered by a UCC-1 or UCC-3 filing. The fee for filing a UCC-5 information statement in Ohio is $12. It is important to note that these fees are subject to change, so it is advisable to consult the official Ohio Secretary of State website or relevant authorities for the most up-to-date information. Additionally, there may be other associated fees depending on the complexity of the transaction or specific requirements of the filing. Complying with the Ohio UCC-1 filing fee requirements is crucial to ensuring the enforceability and effectiveness of secured transactions. Properly understanding and adhering to the fee structure will help individuals and businesses protect their rights, prevent disputes, and establish their position in the hierarchy of creditors.
Ohio Ucc-1 Filing Fee
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How to fill out Ohio UCC1 Financing Statement?
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An Example of a UCC Lien Filing If you secure equipment financing, the lender will file a UCC lien to state that if the debt for the espresso machine is not repaid, the lender has the right to repossess the espresso machine or seize other assets from your business.
Fill in the debtor's name and mailing address. It may be an individual, or it may be in the name of a business or organization. If the loan is in the name of the business, include the business mailing address. There is space for additional debtors. Include them exactly as they appeared on the loan agreement.
A Uniform Commercial Code filing, also known as a UCC filing, is a document that lenders use to establish their legal right to assets that a borrower uses to secure a loan. This notice allows the lender to seize the borrower's collateral in the case of default.
Ohio UCC Filings The Uniform Commercial Code database is a collection of files that record secured loan filings submitted to, and approved by, the Ohio Secretary of State.
Through Ohio Business Central, you can file your UCC-1 and UCC-3 statements online, obtain and request publications and search existing filings. If you have further questions regarding corporate filings, please call 877.767. 3453 or email business@OhioSoS.gov.