SECTION 95.313. Removal of Record

A financing statement must remain as an Active Record until at least one year after it lapses, or if it is indicated to be filed against a transmitting utility, until at least one year after it is terminated with respect to all secured parties of record. On or after the first anniversary of such lapse or termination date, the filing office or the UCC information management system may remove the financing statement and all related UCC records from the Searchable Indexes or from the UCC information management system and upon such removal, the removed UCC Records shall cease to be Active Records. UCC Records removed from the UCC information management system shall be maintained as provided in §95.407 of this title (relating to Archives - General).

Source Note: The provisions of this §95.313 adopted to be effective July 1, 2012, 37 TexReg 4571; amended to be effective January 9, 2014, 39 TexReg 73