R154-2-313. Removal of Record

  (1) Unless this Subsection R154-2-313(2) applies, a financing statement shall remain as an Active Record until at least one year after it lapses.

  (2) If a financing statement indicates that it is to be filed against a transmitting utility, it shall remain as an Active Record until at least one year after it is terminated with respect to all secured parties of record.

  (3)(a) On or after the first anniversary of a lapse or termination date:

  (i) the filing office or the UCC information management system may remove the financing statement and all related UCC records from the Searchable Indexes or from the UCC information management system; and

  (ii) upon such removal, the removed UCC Records shall cease to be Active Records.

  (b) UCC Records removed from the UCC information management system shall be maintained as provided by filing office policy.