30 KAR 5:051 - Filing, indexing, and data entry procedures
RELATES TO: KRS 355.9-515, 355.9-519, 355.9-526
NECESSITY, FUNCTION, AND CONFORMITY: KRS 355.9-526(1) requires the Secretary of State to promulgate administrative regulations implementing KRS Chapter 355.9. This administrative regulation establishes requirements relating to filing, indexing, and data entry procedures.
Section 1. Data shall be entered into the UCC
information management system exactly as provided in a UCC record, without
regard to apparent errors.
Section
2. The filing office shall compare data from tangible UCC records
with data entered by the filing office to verify accurate data entry.
Section 3. The filing office shall not take
any action upon receipt of a notification, formal or informal, of a bankruptcy
proceeding involving a debtor named in the UCC information management
system.
Section 4. The filing
office shall, to the extent reasonably possible, redact certain personal
information from the information it provides to searchers and bulk data
purchasers in accordance with applicable privacy and identity theft protection
laws.
Section 5. The filing office
may correct data entry and indexing errors of filing office personnel in the
UCC information management system at any time. If a correction is made to a UCC
record the filing office shall associate a filing office statement with the
corrected UCC record in the UCC information management system on the date that
the corrective action was taken. The filing office statement shall provide the
date the filing office statement was filed and an explanation of the
correction.
Notes
STATUTORY AUTHORITY: KRS 355.9-526(1)
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