Section 400.9-710

Title XXVI TRADE AND COMMERCE

Chapter 400

Effective - 28 Aug 2002, 2 histories   

  400.9-710.  Local filing office to maintain former article 9 records. — (a)  In this section:

  (1)  "Former article 9 records" means:

  a.  Financing statements and other records that have been filed in the local-filing office before July 1, 2001, and that are, or upon processing and indexing will be, reflected in the index maintained, as of July 1, 2001, by the local-filing office for financing statements and other records filed in the local-filing office before July 1, 2001; and

  b.  The index as of July 1, 2001.

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The term does not include records presented to a local-filing office for filing after July 1, 2001, whether or not the records relate to financing statements filed in the local-filing office before July 1, 2001.

  (2)  "Local-filing office" means a filing office, other than the office of the secretary of state, that is designated as the proper place to file a financing statement under 400.9-401 of former article 9.  The term applies only with respect to a record that covers a type of collateral as to which the filing office is designated in that section as the proper place to file.

  (b)  Except for a record terminating a former article 9 record, a local filing office shall not accept a record presented after June 30, 2001, whether or not the record relates to a financing statement filed in the local filing office before July 1, 2001.  If the record terminating such former article 9 record is in the standard form prescribed by the secretary of state, the uniform fee for filing and indexing the termination statement in the office of a county recorder shall be the same fee as set out in the former article 9 before the effective date of this act^*.

  (c)  Until June 30, 2008, each local-filing office must maintain all former article 9 records in accordance with former article 9.  A former article 9 record that is not reflected on the index maintained on July 1, 2001, by the local-filing office must be processed and indexed, and reflected on the index as of July 1, 2001, as soon as practicable but in any event no later than thirty days after July 1, 2001.

  (d)  Until at least June 30, 2008, each local-filing office must respond to requests for information with respect to former article 9 records relating to a debtor and issue certificates, in accordance with former article 9.  The fees charged for responding to requests for information relating to a debtor and issuing certificates with respect to former article 9 records must be the fees in effect under former article 9 on July 1, 2001.

  (e)  After June 30, 2008, each local-filing office may remove and destroy, in accordance with any then applicable record retention law of this state, all former article 9 records, including the related index.

  (f)  This section does not apply, with respect to financing statements and other records, to a filing office in which mortgages or records of mortgages on real property are required to be filed or recorded, if:

  (1)  The collateral is timber to be cut or as-extracted collateral; or

  (2)  The record is or relates to a financing statement filed as a fixture and the collateral is goods that are or are to become fixtures.

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(L. 2001 S.B. 288, A.L. 2002 S.B. 895)

*"This act" (S.B. 895, 2002) contained numerous sections with multiple effective dates.  Consult Disposition of Sections table for a definitive listing of sections.  If the effective date was not 8-28-02, the section will note if the effective date was 1-01-03 or 7-01-03.