Thursday, 06 27, 2013
Lynn Sowards Zellen
Director of Communications
Secretary of State Alison Lundergan Grimes
Secretary of State Alison Lundergan Grimes, Kentucky’s Chief Business Official, is announcing new Uniform Commercial Code (UCC) forms that go into effect on July 1, 2013.
The Secretary of State’s UCC Division is the state repository for financing statements regarding security interests. Financing statements are filed by banks, mortgage companies and other lending institutions against secured collateral of individuals and other entities located within the state.
The new forms implement amendments to Article 9 of the UCC that were enacted in 2012. The amendments provide certainty with respect to debtor names and guidance on the perfection of security interests when debtors relocate to another jurisdiction.
The new forms will be available on the Secretary of State's website beginning on July 1, 2013. The Office of the Secretary of State will accept previously prescribed forms during a grace period from July 1, 2013, through July 31, 2013. Beginning August 1, 2013, all previously prescribed forms will be rejected.