What is Uniform Commercial Code (UCC)?
Uniform Commercial Code, more commonly known as UCC, became effective in Kansas in 1966. As the name implies, it was a code that was developed for uniform filings on personal and real estate property throughout the USA. Like all “uniform” attempts, fees and other things are different, but the basic concepts of security regulations are more uniform. The filing of a UCC Financing statement is what perfects or secures the loan on consumer goods, personal and real estate property. UCC filings are indexed by debtors and secured parties. July 1, 2001, the Kansas law concerning UCC filings changed. Financing statements covering consumer goods, and personal property are filed in the office of the Secretary of State in Topeka, KS. Financing statements covering fixtures, timber to be cut, and as-extracted oil, gas and other minerals that contain real estate are filed with the Register of Deeds in the county where the land is located.
