Part I. General Provisions
5VAC5-30-10. Scope; severability.
This chapter governs the filing and handling of records in the Clerk's Office of the State Corporation Commission pursuant to Title 8.9A of the Code of Virginia. Each provision of this chapter is severable from all other provisions.
Statutory Authority
§§ 8.9A-526 and 12.1-13 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 17, Issue 22, eff. July 1, 2001; amended, Virginia Register Volume 23, Issue 23, eff. July 1, 2007.
5VAC5-30-20. Definitions.
The following words and terms when used in this chapter shall have the following meanings unless the context clearly indicates otherwise:
"Amendment" means a UCC record that amends the information contained in a financing statement. Amendments also include (i) assignments and (ii) continuation and termination statements.
"Assignment" means an amendment that assigns all or a part of a secured party's power to authorize an amendment to a financing statement.
"Continuation statement" shall have the meaning prescribed by § 8.9A-102(a)(27) of the Code of Virginia.
"File number" shall have the meaning prescribed by § 8.9A-102(a)(36) of the Code of Virginia.
"Filing office" means the Clerk's Office of the State Corporation Commission.
"Filing officer" means the Clerk of the State Corporation Commission.
"Filing officer statement" means a statement entered into the UCC information management system to explain an action by the filing office.
"Financing statement" shall have the meaning prescribed by § 8.9A-102(a)(39) of the Code of Virginia.
"Individual" means a natural person, living or deceased.
"Information statement" means a UCC record that indicates a financing statement is inaccurate or wrongfully filed.
"Initial financing statement" means a UCC record containing the information required to be in an initial financing statement and that causes the filing office to establish the initial record of existence of a financing statement.
"Organization" means a legal person that is not an individual.
"Personal identifiable information" shall have the meaning prescribed by § 12.1-19 B of the Code of Virginia.
"Remitter" means a person who delivers a UCC record to the filing office for filing, whether the person is a filer or an agent of a filer responsible for delivering the UCC record for filing.
"Secured party of record" shall have the meaning prescribed by § 8.9A-511 of the Code of Virginia.
"Termination statement" shall have the meaning prescribed by § 8.9A-102(a)(80) of the Code of Virginia.
"Through date" means the most recent date that all submissions for a specified day have been indexed in the UCC information management system.
"UCC" means the Uniform Commercial Code - Secured Transactions (§ 8.9A-101 et seq. of the Code of Virginia).
"UCC information management system" means the information management system used by the filing office to store, index, and retrieve information relating to financing statements.
"UCC record" means an initial financing statement, an amendment, and an information or a filing officer statement, and shall not be deemed to refer exclusively to paper or paper-based writings.
Statutory Authority
§§ 8.9A-526 and 12.1-13 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 17, Issue 22, eff. July 1, 2001; amended, Virginia Register Volume 23, Issue 23, eff. July 1, 2007; Volume 27, Issue 23, eff. July 1, 2011; Volume 29, Issue 22, eff. July 1, 2013; Volume 34, Issue 9, eff. December 1, 2017; Volume 41, Issue 9, eff. January 1, 2025.
5VAC5-30-30. General filing and search requirements.
A. UCC records shall only be communicated to the filing office by electronic delivery method provided and authorized by the filing office.
B. The filing time for a UCC record delivered to the filing office for filing by authorized electronic delivery method is the date and time the UCC information management system receives the UCC record and determines that all the required elements of the transmission have been received in the required format.
C. In the case of hardship or other good cause, the filing office may, at its discretion, allow for the communication of a UCC record by a method other than electronic filing. The filer must receive approval from the filing office prior to communicating a UCC record by a method other than electronic filing. The filing office will determine the policy and procedure used to accept and process a UCC record in these circumstances.
D. UCC search requests may be delivered to the filing office by personal, courier, or postal delivery, or by electronic delivery method provided and authorized by the filing office.
Statutory Authority
§§ 8.9A-526 and 12.1-13 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 17, Issue 22, eff. July 1, 2001; amended, Virginia Register Volume 23, Issue 23, eff. July 1, 2007; Volume 27, Issue 23, eff. July 1, 2011; Volume 29, Issue 22, eff. July 1, 2013; Volume 34, Issue 9, eff. December 1, 2017; Volume 41, Issue 9, eff. January 1, 2025.
5VAC5-30-40. Fees and payments.
A. Filing fees and fees for services provided under this chapter are as follows:
1. The fee for filing a UCC record is $20.
2. The fee for submitting a UCC search request is $7.00.
3. There is no fee for furnishing a paper copy of a UCC record of 25 or fewer pages. The fee for furnishing a paper copy of a UCC record that exceeds 25 pages is $10. For certifying a copy, the fee for the certificate and affixing thereto the seal of the commission or a facsimile thereof is $6.00.
B. Filing fees may be paid by the following methods:
1. Payment by debit or credit card of a type approved by the filing office shall be accepted for the filing or submission of a document delivered to the filing office for filing by authorized electronic delivery method.
2. The filing office may accept payment via electronic funds under National Automated Clearing House Association (NACHA) rules from remitters who have entered into appropriate NACHA-approved arrangements for such transfers and who authorize the relevant transfer pursuant to such arrangements and rules.
C. Fees for services provided under this chapter may be paid by the following methods:
1. Payment by debit or credit card of a type approved by the filing office for services requested by authorized electronic delivery method or in person at the filing office.
2. Personal check, cashier's check, and money order made payable to the State Corporation Commission or Treasurer of Virginia shall be accepted for services requested by personal, courier, or postal delivery, or in person at the filing office, if drawn on a bank acceptable to the filing office or if the drawer is acceptable to the filing office.
D. In case of hardship or other good cause, the filing office may allow for the payment of fees by an alternate method of payment. Such payment may only occur after the filer has received prior approval from the filing office.
E. The filing office shall notify the remitter of the amount of any overpayment exceeding $24.99 and send the remitter the appropriate procedure and form for requesting a refund. The filing office shall refund an overpayment of $24.99 or less only upon the written request of the remitter. A request for a refund shall be delivered to the filing office within 12 months from the date of payment.
F. Upon receipt of a UCC record with an insufficient filing fee, the filing office shall return the UCC record to the remitter with a notice stating the deficiency and may retain the filing fee.
G. A filing may be voided by the filing office if the filing fee payment that is submitted by the remitter is dishonored, declined, refused, reversed, charged back to the commission, returned to the commission unpaid, or otherwise rejected for any reason by a financial institution or other third party, and after notice from the filing office, the remitter fails to submit a valid payment for the filing fee and any penalties.
H. A notice of lien, certificate and other notice affecting a federal tax lien or other federal lien presented to the filing office pursuant to the provisions of the Uniform Federal Lien Registration Act (§ 55-142.1 et seq. of the Code of Virginia) shall be treated as the most analogous UCC record unless the Uniform Federal Lien Registration Act or federal law provides otherwise.
Statutory Authority
§§ 8.9A-526 and 12.1-13 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 17, Issue 22, eff. July 1, 2001; amended, Virginia Register Volume 23, Issue 23, eff. July 1, 2007; Volume 27, Issue 23, eff. July 1, 2011; Volume 29, Issue 22, eff. July 1, 2013; Volume 34, Issue 9, eff. December 1, 2017; Volume 41, Issue 9, eff. January 1, 2025.