Mississippi Administrative Code › Title 1 - Secretary of State › Part 4 - Uniform Commercial Code › Chapter 9 - Acceptance and refusal of documents › Rule 1-4-9.3 - Grounds for refusal of a UCC document

Current through June 25, 2024
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 §§
									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.