Section 400.9-516

Title XXVI TRADE AND COMMERCE

Chapter 400

Effective - 01 Jul 2001, 3 histories, see footnote   (history) 

  400.9-516.  What constitutes filing — effectiveness of filing. — (a) Except as otherwise provided in subsection (b), 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 correction statement, the record:

  (i) Does not identify the initial financing statement as required by section 400.9-512 or 400.9-518, as applicable; or

  (ii) Identifies an initial financing statement whose effectiveness has lapsed under section 400.9-515;

  (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 which was not previously provided in the financing statement to which the record relates, the record does not identify the debtor's last name; or

  (D) In the case of a record filed or recorded in the filing office described in section 400.9-501(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 which 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;

  (B) Indicate whether the debtor is an individual or an organization; or

  (C) If the financing statement indicates that the debtor is an organization, provide:

  (i) A type of organization for the debtor;

  (ii) A jurisdiction of organization for the debtor; or

  (iii) An organizational identification number for the debtor or indicate that the debtor has none;

  (6) In the case of an assignment reflected in an initial financing statement under section 400.9-514(a) or an amendment filed under section 400.9-514(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 400.9-515(d).

  (c) For purposes of subsection (b):

  (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 400.9-512, 400.9-514 or 400.9-518, 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), 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.

­­--------

(L. 2001 S.B. 288)

Effective 7-1-01