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 bill addresses inconsistencies between the statutory form for financing statements used in secured transactions and the forms revised by the International Association of Commercial Administrators (IACA). Currently, the Recorder of Deeds has stopped accepting the statutory form, which creates a situation where a debtor's interest can be perfected even if the filing office rejects the statutory form. This could lead to uncertainty and potential liability for the District. The proposed amendment would ensure that the Recorder of Deeds cannot refuse to accept a financing statement in a form approved by IACA or adopted by the Chief Financial Officer.

Additionally, the bill includes a change to D.C. Official Code 28:9-526, replacing the term "Mayor" with "Chief Financial Officer" to reflect the updated authority responsible for adopting rules related to financing statements. This amendment 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 U.C.C. provisions. The act will take effect following the necessary approval processes, including a 30-day Congressional review period.