1 Miss. Code. R. 4-9.3 - Grounds for refusal of a UCC document
The following grounds are the sole grounds for the filing officer's refusal to accept a UCC document for filing. As used herein, the term "legible" is not limited to refer only to written expressions on paper. "Legibility" may refer also to a machine - readable transmission for electronic transmissions and an otherwise readily decipherable transmission.
A. Debtor name and address. An initial
financing statement or an amendment that purports to add a debtor shall be
refused if the document fails to include a legible, valid debtor name and
address for a debtor, in the case of an initial financing statement, or for the
debtor purporting to be added in the case of such an amendment. If the document
contains more than one debtor name or address and some names or addresses are
missing or illegible, the filing officer shall index the legible name and
address pairings, and provide notice to the remitter containing the file number
of the document, identification of the debtor name(s) that was (were) indexed,
and a statement that debtors with illegible or missing names or addresses were
not indexed.
B. An initial
financing statement or an amendment adding one or more debtors shall be refused
if the document fails to identify whether each named debtor (or each added
debtor in the case of such an amendment) is an individual or an organization,
if the last name of each individual debtor is not identified.
C. Secured party name and address. An initial
financing statement, an amendment purporting to add a secured party of record
or an assignment shall be refused if the document fails to include a legible
secured party (or assignee in the case of an assignment) name and address. If
the document contains more than one secured party (or assignee) name or address
and some names or addresses are missing or illegible, the filing officer shall
refuse the UCC document.
D. A UCC
amendment of an initial financing statement shall be refused if the document
does not provide a file number of an initial financing statement in the UCC
information management system that has not lapsed.
E. A UCC document that does not identify
itself as an amendment or identify an initial financing statement to which it
relates, as required by Mississippi Code ยงยง
75-9-512,
79-9-514. and 75-9-518, is an initial financing statement.
F. Continuation shall be refused if it is not
received during the six - month period concluding on the day upon which the
related financing statement would lapse.
1.
First day permitted. The first day on which a continuation may be filed is the
date of the month corresponding to the date upon which the financing statement
would lapse, six months preceding the month in which the financing statement
would lapse. If there is no such corresponding date during the sixth month
preceding the month in which the financing statement would lapse, the first day
on which a continuation may be filed is the day of the sixth month preceding
the month in which the financing statement would lapse, although filing by
certain means may not be possible on such date if the filing office is not open
on such date.
2. Last day
permitted. The last day on which a continuation may be filed is the day upon
which the financing statement would lapse. Lapse date is defined in Rule
11.5.
G. A UCC filing shall be refused if the
document is accompanied by less than the full filing fee tendered by a method
described in Rule
6.2 and
6.3.
H. UCC documents communicated to the filing
office by a means of communication not authorized by the filing officer for the
communication of UCC documents shall be refused.
I. UCC documents determined to be fraudulent
or false filings pursuant to section
75-9-501.1
shall be rejected.
J. As of July 1,
2017, all UCC filings submitted to the Secretary of State's office are required
to be entered and completed by the filer or remitter using the Secretary of
State's online filing system for UCC documents. These documents may be
submitted electronically or transmitted in paper but all submitted documents
must be produced by the online filing system and bear the tracking number
assigned by that system. After July 1, 2017, any UCC filing including initial
filing statements, farm liens, and any amendments, corrections or terminations
thereto which are not entered by in the Secretary of State online filing system
will be returned to the filer or remitter
unprocessed.
Notes
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