The California Secretary of State’s ofﬁce is the central ﬁling ofﬁce for certain ﬁnancing statements and other lien documents provided for in the Uniform Commercial Code. Filing with the Secretary of State serves to perfect a security interest in named collateral and establish priority in case of debtor default or bankruptcy.
Generally, the active duration for a ﬁnancing statement is ﬁve (5) years, at which time it lapses unless it is continued. It remains active in the Secretary of State’s ﬁles for one year after it lapses and is searchable in its database for that period of time.
To continue the effectiveness of a ﬁnancing statement for additional ﬁve (5) year periods, the secured party must ﬁle a Form UCC3, National Financing Statement Amendment, with the Secretary of State and pay the applicable ﬁling fee, which ranges from $10.00 to $20.00.
If you have questions regarding perfection of an interest in personal property or filing, renewing, or terminating a UCC financial statement, please contact us.