Utah Admin. Code R154-2-313 - Removal of Record
(1)
(a) A financing statement must remain in the
searchable index within the UCC information management system until at least
one year after it lapses.
(b) On or
after the first anniversary of a lapse, the financing statement and all related
UCC records may be removed from the Searchable Indexes or from the UCC
information management system.
(2)
(a) A
financing statement that states a debtor is a transmitting utility must remain
in the searchable index within the UCC information management system until at
least one year after it is terminated with respect to all secured parties of
record.
(b) On or after the first
anniversary of the termination date of the last remaining secured party of
record, the financing statement may be removed from its searchable index or
from the UCC information management system.
Notes
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