4-9-516. What constitutes filing - effectiveness of filing.
540 words·~2 min read·
/co/title-4-uniform-commercial-code/article-9-secured-transactions/4-9-516·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Except as otherwise provided in subsection
(b)of this section, communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing.
(b)Filing does not occur with respect to a record that a filing office refuses to accept because:
(1)The record is not communicated by a method or medium of communication authorized by the filing office;
(2)An amount equal to or greater than the applicable filing fee is not tendered;
(3)The filing office is unable to index the record because:
(A)In the case of an initial financing statement, the record does not provide a name for the debtor;
(B)In the case of an amendment or information statement, the record:
(i)Does not identify the initial financing statement as required by section 4-9-512 or 4- 9-518, as applicable; or
(ii)Identifies an initial financing statement whose effectiveness has lapsed under section 4-9-515;
(C)In the case of an initial financing statement that provides the name of a debtor identified as an individual or an amendment that provides a name of a debtor identified as an individual that was not previously provided in the financing statement to which the record relates, the record does not identify the debtor's surname; or
(D)In the case of a record filed or recorded in the filing office described in section 4-9- 501 (a)(1), the record does not provide a sufficient description of the real property to which it relates;
(4)In the case of an initial financing statement or an amendment that adds a secured party of record, the record does not provide a name and mailing address for the secured party of record;
(5)In the case of an initial financing statement or an amendment that provides a name of a debtor that was not previously provided in the financing statement to which the amendment relates, the record does not:
(A)Provide a mailing address for the debtor; or
(B)Indicate whether the debtor is an individual or an organization.
(C)Repealed.
(6)In the case of an assignment reflected in an initial financing statement under section 4-9-514
(a)or an amendment filed under section 4-9-514 (b), the record does not provide a name and mailing address for the assignee; or
(7)In the case of a continuation statement, the record is not filed within the six-month period prescribed by section 4-9-515 (d).
(c)For purposes of subsection
(b)of this section:
(1)A record does not provide information if the filing office is unable to read or decipher the information; and
(2)A record that does not indicate that it is an amendment or identify an initial financing statement to which it relates, as required by section 4-9-512, 4-9-514, or 4-9-518, is an initial financing statement.
(d)A record that is communicated to the filing office with tender of the filing fee, but which the filing office refuses to accept for a reason other than one set forth in subsection
(b)of this section, is effective as a filed record except as against a purchaser of the collateral which gives value in reasonable reliance upon the absence of the record from the files.