Many UCC filers do not realize that there are two versions of the new UCC forms. To complicate matters, both carry revision dates of 04/20/11. Both versions are identical in field size, layout and text contents. The only difference between the two versions is that one includes “INTERNATIONAL ASSOCIATION OF COMMERCIAL ADMINISTRATORS (IACA)” at the very bottom of the page. This version indicates the 04/20/11 forms were approved by IACA in addition to the Uniform Law Commission.
When filing written records with the Texas Secretary of State, it is critical to use only the IACA versions of the forms (electronically-filed UCC records are not affected). Texas enacted a non-uniform version of § 9-521 in 2004 that allows the Secretary of State to designate what industry standard forms the filing office will accept. The state retained that provision when it enacted the 2010 Amendments to UCC Article 9.
The Texas Secretary of State chose to approve only the form with the IACA text. The filing office will reject any other version of the forms, even if they carry the 04/20/11 revision date. Those who file written UCC records in Texas, therefore, should always use forms that carry the IACA text.
Please contact Paul Hodnefield is Associate General Counsel for Corporation Service Company if you have any questions or need more information. He can be reached at firstname.lastname@example.org or 800-927-9801, ext. 62375.