Concerning unauthorized Uniform Commercial Code filings.

Summary

The bill bars anyone from filing a Uniform Commercial Code financing statement with the state filing office unless they are authorized and not doing so to harass or defraud the debtor. Violations are classified as a gross misdemeanor. It also gives debtors a way to have wrongful filings terminated and, if needed, reinstated through the courts.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share