Initial Financing Statement

Initial Financing Statement. A new record is opened in the UCC information management system for each initial financing statement that bears the file number of the financing statement and the date and time of filing. A. The name and address of each debtor that is legibly set forth in the financing statement must be contained in the record of the financing statement. Each such debtor name is included in the searchable index and is not removed until one year after the financing statement lapses. Debtor addresses might not be included in the searchable index except to the extent the filing office offers or intends to offer limited searches or limited copy requests as provided in Rule 12.3. B. The name and address of each secured party that is legibly set forth in the financing statement must be contained in the record of the financing statement. C. The record is indexed according to the name of the debtor(s) and is maintained for public inspection. D. Unless the initial financing statement indicates it is filed against a transmitting utility, a lapse date is established for the financing statement and the lapse date is maintained as part of the record.