400.9-520. Acceptance and refusal to accept record. - Missouri Statutes

Acceptance and refusal to accept record.

400.9-520. (a) A filing office shall refuse to accept a record forfiling for a reason set forth in section 400.9-516(b) and may refuse toaccept a record for filing only for a reason set forth in section400.9-516(b).

(b) If a filing office refuses to accept a record for filing, itshall communicate to the person that presented the record the fact of andreason for the refusal and the date and time the record would have beenfiled had the filing office accepted it. The communication must be made atthe time and in the manner prescribed by filing-office rule in no eventmore than three business days after the filing office receives the record.

(c) A filed financing statement satisfying section 400.9-502(a) and(b) is effective, even if the filing office is required to refuse to acceptit for filing under subsection (a). However, section 400.9-338 applies toa filed financing statement providing information described in section400.9-516(b)(5) which is incorrect at the time the financing statement isfiled.

(d) If a record communicated to a filing office provides informationthat relates to more than one debtor, this part applies as to each debtorseparately.

(L. 2001 S.B. 288)

Effective 7-01-01