RON THORNBURGH
Secretary of State

STATE OF KANSAS
Memorial Hall, 1st Floor
120 SW 10th Avenue
Topeka, KS 66612-1594
(785) 296-4564
www.kssos.org


NEWS RELEASE

For Immediate Release
Tuesday April 3, 2001

Contact Information
Jesse Borjon, Communications Director
Office of the Secretary of State
(785) 296-4580
jesseb@kssos.org

EASIER, CHEAPER, FASTER

Deputy Assistant Secretary of State for the Uniform Commercial Code (UCC), Kathy Sachs, will begin a statewide tour on Tuesday, April 3 with the message “easier, cheaper, faster” UCC filings. Her first stop on the tour will be at 1 pm at the Colby Ramada Inn where she will speak at the Kansas Bankers Association Legal Update Seminar.


Ms. Sachs will address members of the Kansas Bankers Association regarding changes in the UCC filing requirements. Lenders are required by statute to file financing statements with the Secretary of State’s office. The Kansas Legislature passed revised article 9 with an implementation date of July 1, 2001.


The new filing system will be much easier, cheaper, and faster for customers. The documents can be filed electronically at www.kssos.org. Advantages to filing electronically on the Secretary of State’s website are numerous and include an easier filing process, cheaper filing rate, and faster filing time. Consequently, lenders will be able to process loans more quickly. While the current paper process takes several weeks, electronically filing financing statements will only take a couple of seconds, meaning consumers can obtain loans much quicker.


“ We strongly encourage our customers to become educated on the advantages of the new system. On July 1, we intend to have 80% of our customers filing electronically. The new system is secure, will result in less risk for the lenders, and will allow consumers to receive their loans much faster,” said Ms. Sachs.

The general public should contact Mary Taylor with the Kansas Bankers Association at 785/232-3444, to make arrangements to attend.

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