Washington HB2256 amends the Uniform Commercial Code to allow for the termination of unauthorized financing statements.

Washington HB2256 modifies the Uniform Commercial Code to facilitate the termination of unauthorized financing statements. The bill allows the filing office to maintain records of financing statements for one year after their effectiveness has lapsed. It also permits the filing office to remove financing statements after 60 days if the secured party authorizes the filing or if the debtor authorizes the filing and the secured party has failed to file a termination statement.

Washington HB2256 amends the Uniform Commercial Code to allow for the termination of unauthorized financing statements.

Washington HB2256 modifies the Uniform Commercial Code to facilitate the termination of unauthorized financing statements. The bill allows the filing office to maintain records of financing statements for one year after their effectiveness has lapsed. It also permits the filing office to remove financing statements after 60 days if the secured party authorizes the filing or if the debtor authorizes the filing and the secured party has failed to file a termination statement.