All UCC filings
in Oregon can now be done online
The Oregon Secretary of State, Corporation Division is the central filing office for
financing statements and other documents provided under the Uniform Commercial
Code (UCC). The purpose of the UCC program is to create a public notice of
records of debt, to establish priority of claim for the secured party in the
event of a bankruptcy by the debtor.
Online
UCC filing is available 24-hours a day, 7 days a week, which is important in a
service where the first to file may lend a significant business advantage.
Filing is immediate as compared to the 2-3 day processing time of a traditional
paper filing.
“Making
it easier to file UCC’s will benefit small business,” said Secretary of State
Kate Brown. “Most UCC’s are filed to secure a loan made to a small business to
reduce the risk for creditors. With lower risk small business can access credit
more easily. This is just another example of how we are using technology to
connect our customers with better services making life and doing business in
Oregon easier.”
The
availability of UCC records reduces the risk of creditors by establishing a
security interest incurred by a debtor, so that priority of claim may be proved
in case of bankruptcy or default; and by providing information on financing
statements and liens to interested parties.
For
more information on e-filing please visit: https://secure.sos.state.or.us/ucc/efiling/new
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