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Panel advances narrow fix to UCC financing‑statement form to match repository practices
Summary
The Committee on Business and Economic Development considered Bill 26‑35 on March 20, 2025, a technical amendment to allow the Recorder of Deeds to accept financing‑statement forms published by the International Association of Commercial Administrators (IACA) or a form adopted by the Chief Financial Officer, aligning the District’s UCC filing rules with repository practice.
The Committee on Business and Economic Development took testimony March 20, 2025, on Bill 26‑35, the Uniform Commercial Code Financing Statement Forms Amendment Act of 2025, a targeted change to synchronize the District’s codified filing form with the form accepted by the Recorder of Deeds and by the International Association of Commercial Administrators (IACA).
Why it matters: Under the Uniform Commercial Code, creditors perfect security interests in a debtor’s personal property by filing a…
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