UCC Document Community

The scope of article 9 ucc really comes down to whether you're creating a security interest in personal property to secure an obligation. If your 'lease' is really just a way to finance the debtor's acquisition of equipment, it falls under Article 9 regardless of what you call it. Focus on the economic substance, not the legal labels.

This is a great discussion that highlights how nuanced Article 9 scope determinations can be. One practical tip I'd add - consider creating a decision tree or flowchart for your team that walks through the key factors: lease term vs. useful life, purchase options, residual value expectations, etc. We implemented something similar and it's helped standardize our approach across different deal types. Also, document your reasoning for each decision - auditors and examiners love to see that you have a consistent methodology for scope determinations, even if they might disagree with specific conclusions.

Just to wrap this up - forget about finding a 'UCC 11 form Louisiana' specifically. Use Louisiana's standard Information Request form, get the debtor name exactly right, consider certified searches for important transactions, and verify all your documents match up properly. Should cover all your bases for the equipment financing.

As someone new to UCC searches, this thread has been incredibly educational! I'm dealing with a similar situation in another state and was also getting confused by different form numbering systems. The advice about focusing on getting the debtor name exactly right and considering certified searches for important transactions really resonates. I appreciate how everyone broke down the Louisiana-specific process while also explaining the broader principles that apply across states. This kind of detailed, practical guidance is exactly what newcomers like me need when navigating UCC procedures for the first time.

Final thought - don't forget to document your search methodology for the deal file. Note which states you searched, what name variations you used, and the dates of your searches. If issues come up later, you'll want to show you did comprehensive due diligence.

This thread has been incredibly helpful - thank you all for the detailed guidance! I'm starting to realize how complex this really is. One more question: when you're dealing with equipment financing, how do you distinguish between UCC filings that might be for operating leases versus actual secured debt? I want to make sure I'm not flagging every piece of leased equipment as a potential deal issue if it's just normal business operations.

This thread is really helpful. I have a similar deal coming up next week and was dreading figuring out the UCC filing requirements. Sounds like individual as debtor, file in LLC's formation state, and be comprehensive with the collateral description.

This is such a valuable discussion! I'm new to handling secured transactions and this LLC membership interest collateral scenario seems really complex. One thing I'm wondering about - when you file the UCC-1 against the individual member in the LLC's state of organization, do you also need to worry about where the individual debtor is located for any additional filings? Or does filing in Delaware (where the LLC was formed) cover everything? Also, for a $350K deal like this, are there any additional due diligence steps beyond just getting the UCC filing right? Thanks for all the insights everyone has shared here.

Update us when you get this resolved! I'm dealing with something similar and want to know what approach works best.

As someone new to this whole UCC process, reading through all these responses really helps clarify what UCC termination meaning actually is. It sounds like the key takeaway is that termination (via UCC-3 filing) is legally required after loan payoff, while lapse is just what happens after 5 years if nothing is done. Quinn, I'd definitely recommend the written demand approach that Aliyah mentioned - seems like phone calls aren't getting you anywhere after 6 weeks. Also interesting to see multiple people mention using Certana.ai to verify their documents match up correctly. Might be worth checking your original UCC-1 filing to make sure there aren't any name discrepancies that could be causing delays or issues with your new lender.