PART 4. OFFICE OF THE SECRETARY OF STATE
CHAPTER 95. UNIFORM COMMERCIAL CODE
SUBCHAPTER H. OTHER NOTICES OF LIENS
The Office of the Secretary of State proposes amendments to 1 TAC §95.602, concerning Other Notices of Liens.
The purpose of the proposed amendments is to more accurately reflect current filing policies and procedures due to statutory requirements. Chapter 35, Texas Business and Commerce Code was repealed by the 80th Legislature and provisions for filing utility security instruments will be provided by Chapter 261, Texas Business and Commerce Code, effective April 1, 2009.
Randy Moes, Director, Uniform Commercial Code Section, has determined that, for the first five year period the proposed amendments are in effect, there will be no fiscal implications to the state or local government as a result of this rule proposal.
Mr. Moes also has determined that, for each year of the first five years the proposed amendments are in effect, the public benefit anticipated will be clarification in matters related to filing of Uniform Commercial Code documents with the Secretary of State and the submission of information requests. There will be no effect on large businesses, small businesses or micro-businesses. There will be no anticipated economic cost to individuals.
Comments on the proposals may be submitted to Randy Moes, Director, Uniform Commercial Code Section, P.O. Box 13193, Austin, Texas 78711-3193. Comments must be received by the Secretary of State no later than 5:00 p.m. Monday, April 13, 2009.
The amendments are proposed under Texas Business and Commerce Code, §§9.501 - 9.527; Texas Business and Commerce Code, Chapter 261; Texas Property Code, §§14.001 - 14.007; Texas Property Code, §§70.3031 - 70.307; Texas Property Code, §§70.401 - 70.410; Texas Agriculture Code, Chapter 128; Texas Agriculture Code, Chapter 188; Texas Code of Criminal Procedure, §42.22; and Texas Government Code, §§51.901 - 51.905, which provide the Secretary of State with the authority to adopt rules necessary to administer Texas Business and Commerce Code, Chapter 9, Subchapter D; Texas Business and Commerce Code, Chapter 261; Uniform Federal Lien Registration Act, Chapter 14; Texas Property Code, Chapter 70, Subchapters D and E; Texas Agriculture Code, Title 5, Subtitle H and Title 6, Subtitle E; and Texas Government Code, Chapter 51, Subchapter J.
No other statutes, articles or codes are affected by this proposal.
§95.602.Notice of Utility Security Instrument.
(a) Filing. A utility security instrument, an
instrument that supplements or amends a utility security instrument,
or a statement of name change, merger, or consolidation will be accepted
for filing as defined in Chapter 261, Texas Business and Commerce
Code. A separate notice is submitted for each utility security instrument
and is filed and indexed within the UCC filing system. An instrument
that supplements or amends a utility security, or a statement of name
change, merger, or consolidation is filed and indexed within the UCC
filing system as though it were a financing statement amendment and
must include the identification of the initial file number (as defined
in §95.101(5) of this title). An amendment to a utility security
instrument shall be refused if the document's identification of the
initial filing does not correspond to the identification number of
a utility security instrument then active in the UCC information management
system. [Utility security instruments and notices of name
change, merger or consolidation will be accepted for filing as defined
in Chapter 35, Texas Business and Commerce Code. Utility security
instruments are filed and indexed within the UCC filing system. Notices
of name change, merger or consolidation are filed as though they were
financing statement amendments and must include identification of
the initial file number (as defined in §95.101(8) of this title).
A separate notice is submitted for each utility security instrument.
An amendment to a utility security instrument shall be refused if
the document's identification of the initial filing does not correspond
to the identification number and file date of a utility security instrument
then active in the UCC information management system.]
(1) Where to file. Utility security instruments, instruments
supplementary or amendatory thereto, or a statement of name change,
merger, or consolidation are filed with the filing office pursuant
to Chapter 261 [35], Texas Business and Commerce Code.
(2) Fee. The required fee for filing and indexing each
utility security instrument, an instrument that supplements or amends
a utility security instrument, or a statement of name change, merger,
or consolidation [notice of lien or certificate or notice
affecting] is pursuant to §261.008 [Chapter
35.05], Texas Business and Commerce Code.
(3) Duration. The perfection and notice provided
by the filing of a utility security instrument take effect on the
date of filing and remain in effect without any renewal, refiling,
or continuation statement until the interest granted as security is
released by the filing of a termination statement, or a release of
all or a part of the property, signed by the secured party pursuant
to §261.005, Texas Business and Commerce Code. [The
notice is effective until the interest granted as security is released
by the filing of a termination signed by the secured party, and no
renewal, refiling, or continuation statement shall be required to
continue such effectiveness pursuant to Chapter 35.03, Texas Business
and Commerce Code.]
(b) Mechanics of search. Search requests and reports
are conducted pursuant to §261.009 [Chapter 35.06],
Texas Business and Commerce Code and as described in §§95.500
- 95.504 of this title.
(c) Fee for search. The required fee for information
from the filing office is pursuant to §261.009 [
Chapter35.06
], Texas Business and Commerce Code and as described in §§95.111
- 95.112 of this title.
(d) Judicial Finding of Fact filing fee. The fee for a judicial finding of fact is pursuant to §51.905, Texas Government Code.
This agency hereby certifies that the proposal has been reviewed by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of the Secretary of State on March 2, 2009.
TRD-200900911
Lorna Wassdorf
Director of Business and Public Filings Division
Office of the Secretary of State
Earliest possible date of adoption: April 12, 2009
For further information, please call: (512) 475-2710