The Task Force on Filing Office Operations and Search Logic has been formed to address issues relating to filing and searching under Article 9 of the Uniform Commercial Code. The Taskforce will cooperate closely with International Association of Commercial Administrators (IACA) to (i) collect and disseminate information on how filing systems operate, with particular attention to differences among individual filing offices; (ii) work with IACA and individual filing offices to develop, modify, and implement rules that will help filing offices perform their duties and serve their constituencies; (iii) communicate IACA's advice on how best to use the services of filing offices; and (iv) make recommendations on whether and how the UCC should be amended to make filing and searching easier, uniform, and more certain to yield the best results.

The Joint Task Force on Filing Office Operations and Search Logic met at the Business Law Section Spring Meeting in Boston on Saturday, April 16, 2011. The meeting began with a presentation about the filing officers' perspective on the 2010 Amendments to UCC Article 9 by Kelly Kopyt, Assistant Director of the Corporations Division at the Massachusetts Secretary of the Commonwealth. Next, the task force heard nominations of cases eligible for the first annual "FOOSL" Award for the most troublesome UCC-related court decision of the past year. The award for 2010 went to Roswell Capital Partners LLC v. Alternative Construction Technologies, 2010 LEXIS 90695 (S.D. N.Y., Sept. 1, 2010). In Roswell, the court stated that all termination statements are effective, even if filed by mistake or without authorization; that it is the secured party's duty to monitor their filed records for unauthorized terminations; and, finally, that the duty of further inquiry applies only to financing statements because searchers must be able to rely on terminations filed in the public record.

FOOSL will next meet at the ABA Annual Meeting in Toronto. The meeting will include a debate of the merits of individual debtor name Alternative A versus Alternative B for Section 9-503(a) of the 2010 Amendments to Article 9.

Please contact the Co-Chairs with any questions.

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Sub-Committee Chairs:  Paul Hodnefield, Darrell W Pierce

Committee Roster (74 total members)

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