What is a UCC?

A UCC, or Uniform Commercial Code is a legal notice filed by a creditor when they make a loan to a borrower to purchase business assets or personal property.

More specifically, a UCC Financing Statement gives lenders a claim on assets a debtor pledges as security interest, such as when an individual obtains a mortgage for a home. The home is the collateral pledged for the property. With the UCC-1 filed, the homeowner can’t take out another loan on the home without first paying off the initial loan.

What information does a South Dakota UCC search show?

UCC information in South Dakota is public record and can be searched by anyone. The record will show the financial statement number, filing date, lapse date, display name, filing type, name and address of the debtor, name and address of the secured party.

Also see: How to do a South Dakota business entity search

Why is a UCC needed?

The UCC is a record that provides the creditor with a secured transaction and if the debtor defaults on the debt, the creditor can foreclose on the asset.

Where is a UCC filed in South Dakota?

Most UCC records are filed with the South Dakota Secretary of State’s office, however, real property filings are filed in the county Register of Deeds Office, in the county where the real estate is located

How much does a UCC search cost in South Dakota?

To search the South Dakota UCC database, there is a fee of $300 per year to become a Search Only Subscriber. It is $450 per year to become a Full Access Subscriber.

How to do a UCC search in South Dakota

Step 1 – Go to the South Dakota Secretary of State’s website

Step 2 – Click on the Division of Business Services at the bottom of the page

Step 3 – Click on UCC / EFS Filing Information

Step 4 – If you are a subscriber, click Already a Subscriber?

If you are not a subscriber, click on Click Here To Become A Subscriber