La. Admin. Code tit. 10, § XIX-107 - Forms to be Used in Filing
A.
Under the UCC, the notice to be filed with the filing officer is called a
financing statement. The approved Form UCC-1 measures 8 1/2 by 11 inches. All
filing officers will accept these standard forms. Failure to use Louisiana's
Form UCC-1 renders the filing subject to the nonstandard form
penalty.
B. If the space provided
on Form UCC-1 is inadequate, the item should be identified and continued on an
additional 8 1/2 by 11 inch sheet. The name of the debtor should appear as the
first item on the additional sheet.
C. The security agreement entered into by the
secured party and the debtor is sufficient as a financing statement if it
contains all the information required in a financing statement and is signed by
the debtor; however, the nonstandard form penalty will be assessed for the
filing of such agreement.
D. A
carbon, photographic, facsimile, or other reproduction of a security agreement
or financing statement is sufficient as a financing statement if the security
agreement so provides or if the original has been filed in the state of
Louisiana.
1. Filing officers shall reject
any financing statement or security agreement if the copy is
illegible.
2. Fax filings of the
financing statement will be accepted.
3. Laser printed financing statements
prepared by computerized loan documentation service companies will be accepted
as standard filings if presented in the same format as Louisiana's Form UCC-1
on 8 1/2 by 11 inch paper.
E. A consignor, lessor, depositor, or bailor
of goods has the option of filing a financing statement using the terms
consignor, consignee, lessor, lessee, depositor (or bailor), and depositary (or
bailee), instead of the terms secured party and debtor. The filer may indicate
that the financing statement is filed as a lease, consignment, deposit, or
bailment either by indicating the same in the statement describing the types,
or items, of the secured collateral or by designating the status of the parties
to the transaction in the appropriate debtor and secured party name blocks and
in the space designated for signatures, or both.
F. A financing statement may disclose an
initial assignment of the security interest by giving the name and address of
the assignee. After disclosure of the assignment, the assignee is the secured
party of record. Form UCC-1 contains appropriate space to disclose such an
initial assignment.
Notes
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