Bill > HB2256

This bill establishes a new process for terminating unauthorized Uniform Commercial Code (UCC) filings, which are official records that indicate a lender has a security interest in a borrower's property. Currently, removing such a filing can be difficult if it was made without the borrower's consent. The bill allows a person identified as a debtor in a UCC financing statement to submit a sworn affidavit to the filing office stating that the filing was not authorized and does not reflect a genuine security interest. After notifying the secured party (the lender) and waiting 30 days, the filing office can then administratively terminate the unauthorized filing. This new procedure is in addition to existing legal remedies. The bill also makes technical changes to existing laws regarding who can file amendments to UCC filings and how long the filing office must maintain records of lapsed financing statements, specifically allowing for the quicker removal of records related to these newly terminable unauthorized filings.

Justice

https://app.leg.wa.gov/billsummary?BillNumber=2256&Year=2025&Initiative=false