UCC Fee Issues

Confusion has existed in the past concerning the proper charge for UCC financing statements relating to fixtures which are recorded with deeds of trust instead of being filed with the other financing statements.  The Attorney General has opined (Op. Tenn. Atty. Gen. No. 333, October 5, 1983) that the proper fee is the fee charged on other UCC financing statements, which is $15.00.  The UCC law provides that registers may charge an additional $15.00 for each name required to be indexed.  This is usually for additional debtors, but a name such as an individual or corporation d/b/a another name is to be treated as one name.  Where a husband and wife are both listed as a debtor on an initial financing statement, this is two names and a fee of $30.00 should be charged.  The key to determining whether the extra name should be charged is whether or not the additional name is required to be indexed under the new UCC law.