R154-2-100. Definitions

  (1) Terms included in this Subsection R154-2-100(1) shall have the meanings stated.

  (a) "Active Record" means a UCC record that has been stored in the UCC information management system and indexed in, but not yet removed from, the Searchable Indexes.

  (b) "Address" means:

  (i) any street address, route number (may include box) or post office box number that includes a city, state, and zip code within the United States of America; or

  (ii) any address that purports to be a mailing address outside the United States of America.

  (c) "Amendment Statement" means a UCC record that amends the information contained in a financing statement, and includes:

  (i) an assignment;

  (ii) a continuation; or

  (iii) a termination.

  (d)(i) "Assignment Statement" means an amendment that assigns to another person all or a part of a secured party's power to authorize an amendment to a financing statement.

  (ii) Any assignment statement not clearly marked on the filing form as a partial assignment shall be deemed a full assignment.

  (e) "Information Statement" means a UCC record indicating that a financing statement is inaccurate or wrongfully filed.

  (f) "Filing office" or "filing officer" means the Utah Division of Corporations and Commercial Code in the Utah Department of Commerce.

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

  (h) "Initial financing statement" means a UCC record by which the filing office establishes the initial record of filing of a financing statement.

  (i)(i) "Remitter" means a person who tenders a UCC record to the filing officer for filing, including:

  (A) the filer;

  (B) an agent of the filer responsible for tendering the record for filing; or

  (C) a service provider acting as a filer's representative in the filing process.

  (ii) "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.

  (j) "Searchable indexes" means a list maintained in the UCC information management system that may be searched by:

  (i) individual debtor name(s); or

  (ii) organization debtor name(s).

  (k) "Secured party of record" means:

  (i) a secured party of record as defined in the UCC;

  (ii) a person:

  (A) who is on record as a secured party; and

  (B) with respect to whom an amendment is filed purporting to delete the person as a secured party of record; or

  (iii) the person identified as the assignor on an amendment that purports to be an assignment.

  (l) "UCC" means the Uniform Commercial Code as adopted in this State.

  (m) "UCC information management system" means the data system used by the filing office to store, index, and retrieve information relating to financing statements as described in Subsection R154-2-300 of these rules.

  (n) "UCC record" means:

  (i) an initial financing statement;

  (ii) an amendment;

  (iii) an assignment;

  (iv) a continuation statement;

  (v) a termination statement;

  (vi) a filing officer statement;

  (vii) an information statement; or

  (viii) any other record maintained by the filing office, whether the record is in an electronic format or paper-based.

  (o) "Unlapsed record" means a UCC record that:

  (i) has been stored and indexed in the UCC information management system; and

  (ii) with respect to all secured parties of record, has not lapsed under UCC Section 9-515.

  (2) Any term that is not defined in Subsection R154-2-100(1) but that is defined by the UCC shall have the meaning accorded the term by the UCC.