Section 9-513 – Termination Statement
(a) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and: (1) There is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or […]
Section 9-514 – Assignment of Powers of Secured Party of Record
(a) Except as otherwise provided in subsection (c), an initial financing statement may reflect an assignment of all of the secured party’s power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party. (b) Except as otherwise provided in subsection […]
Section 9-515 – Duration and Effectiveness of Financing Statement; Effect of Lapsed Financing Statement
(a) Except as otherwise provided in subsections (b), (e), (f), and (g), a filed financing statement is effective for a period of five years after the date of filing. (b) Except as otherwise provided in subsections (e), (f), and (g), an initial financing statement filed in connection with a public–finance transaction or manufactured–home transaction is effective for […]
Section 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 […]
Section 9-517 – Effect of Indexing Errors
The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record.
Section 9-518 – Claim Concerning Inaccurate or Wrongfully Filed Record
(a) A person may file in the filing office an information statement with respect to a record indexed there under the person’s name if the person believes that the record is inaccurate or was wrongfully filed. (b) An information statement under subsection (a) must: (1) Identify the record to which it relates by: (A) The file number assigned to […]
Section 9-519 – Numbering, Maintaining, and Indexing Records; Communicating Information Provided in Records
(a) For each record filed in a filing office, the filing office shall: (1) Assign a unique number to the filed record; (2) Create a record that bears the number assigned to the filed record and the date and time of filing; (3) Maintain the filed record for public inspection; and (4) Index the filed record in accordance with subsections […]
Section 9-520 – Acceptance and Refusal to Accept Record
(a) A filing office shall refuse to accept a record for filing for a reason set forth in § 9-516(b) and may refuse to accept a record for filing only for a reason set forth in § 9-516(b). (b) If a filing office refuses to accept a record for filing, it shall communicate to the person that […]
Section 9-521 – Uniform Form of Written Financing Statement and Amendment
A filing office that accepts written records may not refuse to accept a written initial financing statement, addendum, or amendment in the form and format set forth in the official text of the 2010 amendments to Article 9 of the Uniform Commercial Code promulgated by the American Law Institute and the Uniform Law Commission, except […]
Section 9-522 – Maintenance and Destruction of Records
(a) The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under § 9-515 with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and by […]