30-9A-516. What constitutes filing — effectiveness of filing. (1) Except as otherwise provided in subsection (2), 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.

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Terms Used In Montana Code 30-9A-516

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Collateral: means the property subject to a security interest or agricultural lien. See Montana Code 30-9A-102
  • Continuation statement: means an amendment of a financing statement that:

    (i)identifies, by its file number, the initial financing statement to which it relates; and

    (ii)indicates that it is a continuation statement for, or that it is filed to continue the effectiveness of, the identified financing statement. See Montana Code 30-9A-102

  • Debtor: means :

    (i)a person having a property interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor;

    (ii)a seller of accounts, chattel paper, payment intangibles, or promissory notes; or

    (iii)a consignee. See Montana Code 30-9A-102

  • Filing office: means an office designated in 30-9A-501 as the place to file a financing statement. See Montana Code 30-9A-102
  • Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Montana Code 30-9A-102
  • Secured party: means :

    (i)a person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding;

    (ii)a person that holds an agricultural lien;

    (iii)a consignor;

    (iv)a person to which accounts, chattel paper, payment intangibles, or promissory notes have been sold;

    (v)a trustee, indenture trustee, agent, collateral agent, or other representative in whose favor a security interest or agricultural lien is created or provided for; or

    (vi)a person that holds a security interest arising under 30-2-401, 30-2-505, 30-2-711(3), 30-2A-508(5), 30-4-208, or 30-5-118. See Montana Code 30-9A-102

(2)Filing does not occur with respect to a record that a filing office refuses to accept because:

(a)the record is not communicated by a method or medium of communication authorized by the filing office;

(b)an amount equal to or greater than the applicable filing fee is not tendered;

(c)the filing office is unable to index the record because:

(i)in the case of an initial financing statement, the record does not provide a name for the debtor;

(ii)in the case of an amendment or information statement, the record:

(A)does not identify the initial financing statement as required by 30-9A-512 or 30-9A-518, as applicable; or

(B)identifies an initial financing statement whose effectiveness has lapsed under 30-9A-515;

(iii)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 that was not previously provided in the financing statement to which the record relates, the record does not identify the debtor’s surname; or

(iv)in the case of a record filed or recorded in the filing office described in 30-9A-501(1)(a), the record does not provide a sufficient description of the real property to which it relates;

(d)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;

(e)in the case of an initial financing statement or an amendment that provides a name of a debtor that was not previously provided in the financing statement to which the amendment relates, the record does not:

(i)provide a mailing address for the debtor; or

(ii)indicate whether the name provided as the name of the debtor is the name of an individual or an organization;

(f)in the case of an assignment reflected in an initial financing statement under 30-9A-514(1) or an amendment filed under 30-9A-514(2), the record does not provide a name and mailing address for the assignee; or

(g)in the case of a continuation statement, the record is not filed within the 6-month period prescribed by 30-9A-515(4).

(3)For purposes of subsection (2):

(a)a record does not provide information if the filing office is unable to read or decipher the information; and

(b)a record that does not indicate that it is an amendment or identify an initial financing statement to which it relates, as required by 30-9A-512, 30-9A-514, or 30-9A-518, is an initial financing statement.

(4)A record that is communicated to the filing office with tender of the filing fee, but that the filing office refuses to accept for a reason other than one set forth in subsection (2), is effective as a filed record except as against a purchaser of the collateral that gives value in reasonable reliance upon the absence of the record from the files.