The Bamberger Blog » corporations http://www.bamberger.com/blog Tue, 07 Sep 2010 13:30:20 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Location of Filing Financing Statements for Registered Organization http://www.bamberger.com/blog/2010/03/location-of-filing-financing-statements-for-registered-organization/ http://www.bamberger.com/blog/2010/03/location-of-filing-financing-statements-for-registered-organization/#comments Wed, 03 Mar 2010 14:01:34 +0000 kjewell http://www.bamberger.com/blog/?p=347 Revised Article 9 makes it clear that financing statements are to be filed at the “location” of the debtor.  A debtor’s “location” is dependent upon the type of debtor.  One type of debtor is entities that are registered organizations under the laws of a particular state.  Examples of registered organizations are corporations, limited liability companies, limited liability partnerships, limited liability limited partnerships, and limited partnerships.  Generally speaking, partnerships do not have to register with states in order to be formed and therefore are not registered organizations under Revised Article 9.

If the debtor is a registered organization, filing is to be done in the state of registration.  This can be different from the principal office of the business.  For example, if the borrower has its headquarters in the state of Kentucky but is organized under the laws of the state of Delaware, Delaware is generally the proper location to file.  This will require bankers to collect information regarding the state of organi-zation of its borrowers in order to be able to be assured that new financing statements and continuations are filed in the appropriate locations.

Author: Laura A. Scott (bio)
Phone: 812.452.3557
email: lscott@bamberger.com

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