Iowa Code 554.9520 – Acceptance and refusal to accept record
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Terms Used In Iowa Code 554.9520
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- Rule: includes "regulation". See Iowa Code 4.1
554.9520 Acceptance and refusal to accept record.
1. Mandatory refusal to accept record. A filing office shall refuse to accept a record for
filing for a reason set forth in § 554.9516, subsection 2, and may refuse to accept a record for filing only for a reason set forth in § 554.9516, subsection 2.
2. Communication concerning refusal. If a filing office refuses to accept a record for filing, it shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it. The communication must be made at the time and in the manner prescribed by filing-office rule but in no event more than two business days after the filing office receives the record.
3. When filed financing statement effective. A filed financing statement satisfying section
554.9502, subsections 1 and 2, is effective, even if the filing office is required to refuse to accept it for filing under subsection 1. However, § 554.9338 applies to a filed financing statement providing information described in § 554.9516, subsection 2, paragraph “”e””, which is incorrect at the time the financing statement is filed.
4. Separate application to multiple debtors. If a record communicated to a filing office provides information that relates to more than one debtor, this part applies as to each debtor separately.
2000 Acts, ch 1149, §91, 187
1. Mandatory refusal to accept record. A filing office shall refuse to accept a record for
filing for a reason set forth in § 554.9516, subsection 2, and may refuse to accept a record for filing only for a reason set forth in § 554.9516, subsection 2.
2. Communication concerning refusal. If a filing office refuses to accept a record for filing, it shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it. The communication must be made at the time and in the manner prescribed by filing-office rule but in no event more than two business days after the filing office receives the record.
3. When filed financing statement effective. A filed financing statement satisfying section
554.9502, subsections 1 and 2, is effective, even if the filing office is required to refuse to accept it for filing under subsection 1. However, § 554.9338 applies to a filed financing statement providing information described in § 554.9516, subsection 2, paragraph “”e””, which is incorrect at the time the financing statement is filed.
4. Separate application to multiple debtors. If a record communicated to a filing office provides information that relates to more than one debtor, this part applies as to each debtor separately.
2000 Acts, ch 1149, §91, 187