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New Jersey – Legislation Enacted To Tackle Fraudulent UCCs

The governor signed Assembly Bill 2481 on 5/10/2015.  This bill is intended to address the problem of fraudulent UCC filing by providing the filing office with additional reasons for rejection and permits the filing office to terminate allegedly fraudulent records under certain circumstances.  The bill includes other related provisions, including additional remedies for public officials that are victims of fraudulent UCC records.  The new law took effect immediately.