Montana Code 30-9A-520. Acceptance and refusal to record
30-9A-520. Acceptance and refusal to record. (1) A filing office shall refuse to accept a record for filing for a reason set forth in 30-9A-502 and 30-9A-516(2) and may refuse to accept a record for filing only for a reason set forth in 30-9A-502 and 30-9A-516(2).
Terms Used In Montana Code 30-9A-520
- Communicate: means :
(i)to send a written or other tangible record;
(ii)to transmit a record by any means agreed upon by the persons sending and receiving the record; or
(iii)in the case of transmission of a record to or by a filing office, to transmit a record by any means prescribed by filing-office rule. 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
- Filing-office rule: means a rule adopted pursuant to 30-9A-526. 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
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
(2)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 2 business days after the filing office receives the record.
(3)A filed financing statement complying with 30-9A-502(1) and (2) is effective, even if the filing office is required to refuse to accept it for filing under subsection (1). However, 30-9A-338 applies to a filed financing statement providing information described in 30-9A-516(2)(e) that is incorrect at the time the financing statement is filed.
(4)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.