18 NCAC 05B .0102          DEFINITIONS

In addition to the definitions contained in G.S. 25-9-102, the following terms shall have the respective meanings and shall apply to the rules in this Subchapter:

(1)           "Amendment" means a UCC record that amends the information contained in a financing statement.  Amendments include assignments, continuations and terminations.

(2)           "Assignment" is an amendment that assigns all or part of a secured party's power to authorize an amendment to a financing statement.

(3)           "Business to Government (B2G)" relationship means business to government electronic communication and interaction which facilitates the transfer of XML files and documents between business and government, including, but not limited to, electronic filing and on-line searches.

(4)           "Correction statement" means a UCC record that indicates that a financing statement is inaccurate or wrongfully filed.

(5)           "E-filing account" means the account number a remitter shall be assigned upon subscribing to this method of payment

(6)           "Filing office" and "filing officer" mean the Uniform Commercial Code (UCC) Section of the North Carolina Department of the Secretary of State.

(7)           "Filing officer statement" means a statement entered into the filing office's information system to correct an error by the filing office.

(8)           "FTP site" means the Department's repository that stores UCC filing record data and makes the raw data accessible to subscribers over the internet via file transfer protocol.

(9)           "Individual" means a human being, or a decedent in the case of a debtor that is such decedent's estate.

(10)         "Initial financing statement" means a UCC record containing the information required to be in an initial financing statement and that causes the filing office to establish the initial record of existence of a financing statement.

(11)         "Organization" means a legal person who is not an individual.

(12)         "Processing fee" means the fee remitted to the filing office for filing and indexing a UCC record.

(13)         "Remitter" means a person who tenders a UCC record to the filing officer for filing, whether the person is a filer or an agent of a filer responsible for tendering the record for filing.  "Remitter" does not include a person responsible merely for the delivery of the record to the filing office, such as the postal service or a courier service but does include a service provider who acts as a filer's representative in the filing process.

(14)         "UCC" means the Uniform Commercial Code as adopted in North Carolina.

(15)         "UCC record" means an initial financing statement, an amendment, an assignment, a continuation, a termination, a filing officer statement, or a correction statement and shall not be deemed to refer exclusively to paper or paper-based writings.


History Note:        Authority G.S. 25-9-102; 25-9-526;

Temporary Adoption Eff. July 2, 2001;

Eff. August 1, 2002;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. November 12, 2014.