Removal Of Record

A financing statement must remain as an active record until one year after it lapses, or if it is indicated to be filed against a transmitting utility, until at least one year after it is terminated with respect to all secured parties of record. On or after the first anniversary of such lapse or termination date, the filing office or the UCC information management system may remove the UNIFORM COMMERCIAL CODE CHAPTER 1360-08-03 UCC INFORMATION MANAGEMENT SYSTEM financing statement and all related UCC records from the searchable indexes or from the UCC information management system, and upon such removal, the removed UCC records shall cease to be active records.