On May 11, 2015 NJ Bill 2481 was signed amending certain rules affecting UCC filings. The most significant change is the elimination of the acceptance of paper filings.
Filers must now use New Jersey’s electronic filing system DORES to submit financing statements and must also make a statement on the form that the collateral described falls within the scope of Article 9.
Also included in the legislation is that financing statements are only effective if they state a name for the Secured Party or representative of the Secured Party. This rule prevents Secured Parties from “masking” their identity on UCC filings.
Unisearch can help with any New Jersey UCC filing needs or questions. Give us a call!