The Uniform Commercial Code Financing Statement Forms Amendment Act of 2025 aims to amend Section 9-521 of the Uniform Commercial Code in the District of Columbia. The amendment addresses inconsistencies between the statutory form for financing statements used in secured transactions and the forms utilized by the International Association of Commercial Administrators (IACA). Currently, the Recorder of Deeds and other filing offices have stopped accepting the statutory form, which can lead to a situation where a debtor's interest is still perfected despite the rejection of the filing. This creates uncertainty and potential liability for the District. The proposed amendment would ensure that the filing office cannot refuse to accept a financing statement in a form approved by IACA or one adopted by the Chief Financial Officer.

Additionally, the bill includes a change in terminology, replacing the word "Mayor" with "Chief Financial Officer" in Section 28:9-526 of the D.C. Official Code. This legislative change has been reviewed and approved by the Recorder of Deeds, and it is intended to align the District's practices with those of other states that have made similar amendments to their versions of the U.C.C. The bill will take effect following the necessary approval processes, including a 30-day Congressional review period.