OHIO RECORDERS’ ASSOCIATION

MEMORANDUM – Revised Article 9 – SB 74

 

The effects of Amended Sub. Senate Bill 74 (Revised Article 9) on the duties of County Recorders in Ohio are addressed in this memorandum.

 

EFFECTIVE JULY 1, 2001

Signed by Governor Taft, June 22, 2001

 

The following documents will be filed and/or indexed at the county level:

 

1.      Real Property Related UCC Filings (Fixture filings in real estate records)

1. Fee: $12.00 for filing
2. $2.00 for each name indexed (debtor(s), secured party and property owner(s)
3. See (Exhibit C, 1309.525 (A) and Exhibit D 317.32 (E)
4. Filing for office requirements (Exhibit A, 1309.519)

 

2.      Amendments to Real Property Related UCC’s: i.e., amendments, continuations, assignments, partial releases and terminations.

1. Fee: $12.00 for filing
2. $2.00 for each name indexed (debtor(s), secured party and property owner(s).
3. Filing office requirements (Exhibit A, 1309.519)

 

3.      Terminations: On Real Property Related UCC filings

Filed prior to July 1, 2001 and after June 30, 2001

1. Fee: $12.00 for filing
2. $2.00 for each name indexed

C.     See (Exhibit C, 1309.513, 1309.525 (A) and Exhibit D, 317.32 (A)

 

4.  Terminations on UCC1’s

Filed prior to July 1, 2001

1. Fee: $12.00 for filing
2. See (Exhibit C 1309.513 and 1309.525)

 

5.      Correction Statements (a new type of filing under Revised Article 9)

1. Fee: $12.00 for standard UCC’s
2. $12.00 for real property related UCC’s
3. $2.00 for each name indexed
4. See (Exhibit A, 1309.518 and 1309.519 (B), Exhibit C 1309.525 (A)

 

6.      Searches (Request for Information)

A.     Fee: $20.00 for search

2. No fee for findings
3. $1.00 per page, See (Exhibit D, 317.32 (I)
4. See (Exhibit C, 1309.525 (B)

 

The new law no longer provides for certification of searches by county recorders.  Request must be in written form or another medium authorized by the filing office rule.

 

REJECTIONS:  Reasons for refusal

1. Rejections see Exhibit A, 1309.516 (B).  Please thoroughly review these.
2. May not reject for reasons other than those specified.

 

FORMS

(Currently the state does not require the use of a standard form.)

1. Rejection form – Secretary of State endorsed form enclosed (www.ohio.gov/sos/Guidelines_for_Refusing_UCC_Record.html)
2. If sent to wrong jurisdiction – You may reject (Exhibit A, 1309.516 (d)(5)(ii)
3. When a filing office refuses to accept a record for filing, it shall communicate to the filer in no more than two business days after the filing office receives the record.  (Exhibit A, 1309.520 (B)
4. Rejection forms, note date and time of rejection on the actual form, rejection letter must be attached-advise you to keep record when returning this information to filer. (Exhibit A, 1309.520 (B)

 

NUMBERING SYSTEMS

1. Filing offices may decide to maintain current computer numbering systems, this will be acceptable.
2. Filing office is required to retain the original Real Property Related UCC filing as in the past.

 

RECOMMENDATION:  Under Revised Article 9, after June 30, 2001, the vast majority of financing statements will be cetrally filed with the Ohio Secretary of State and not filed at the county level.  That is not to say, however, that County Recorders will be out of the financing statement business.  County Recorders are no longer filing jurisdiction for UCC1’s that are not indexed to real estate.  Although a standard form is being endorsed by the Secretary of State, they are currently accepting just about any format presented for filing with the correct information.  Ohio Recorders, at this time are asked to also select a variety of forms (with the required information).  We anticipate a standard form to be required at a later date.

 

PLEASE NOTE:

 

IF BOX NUMBER 6 ON THE NEW FORM OR (SIMILAR NOTATED AREA RELATED TO REAL PROPERTY INDEXING) IS NOT CHECKED, THEN IT IS NOT INDEXED TO REAL ESTATE AND COUNTY RECORDERS ARE NOT THE FILING JURISDICTION.