reglab/statecodes huggingface dataset:
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Acceptances and Refusal of Documents › Section 140.19 - Refusal Errors

Current through Register 1525, July 5, 2024
If a filer demonstrates to the satisfaction of the filing
				  office that a UCC record that was refused for filing should not have been
				  refused pursuant to M.G.L. c. 106, § 9-516 and
				  950 CMR
				  140.14, the filing office will file the UCC
				  record as provided in
				  950 CMR 140.13 with the
				  filing date and time the UCC record was originally tendered for filing. A
				  filing officer statement will be placed in the UCC information management
				  system on the date the corrective action was taken. The filing officer
				  statement must provide the date of the correction and explain the nature of the
				  corrective action taken. The record shall be preserved for so long as the
				  record of the initial financing statement is preserved in the UCC information
				  management system.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.20 - Primary Data Elements

Current through Register 1525, July 5, 2024
The filing officer uses an information management system to
				  store, index and retrieve information relating to financing statements. The
				  primary data elements used in the UCC information management system are the
				  following:
(1)
Initial
				Financing Statement - File Number
. Each initial financing
				statement is identified by its file number as described in
				950 CMR 140.02. A
				file number for the initial financing statement is permanently associated with
				the record maintained in the UCC information management system. A record is
				created and maintained in the information management system for each initial
				financing statement and all information comprising such record is maintained in
				the system.
(2)
Other
				File Numbers
. A UCC record other than an initial financing
				statement is identified by a unique file number assigned by the filing officer.
				In the UCC information management system, UCC records other than initial
				financing statements are linked to the record of the related initial financing
				statement. The sequence of the identification number is not an indication of
				the order in which the record was received.
(3)
Type of UCC
				Record
. The type of UCC record from which data is transferred is
				identified in the UCC information management system from information supplied
				by a filer. The filing date and filing time of UCC records are stored in the
				UCC information management system.
(4)
Names and Addresses of
				Debtors and Secured Parties
. The names and addresses of debtors
				and secured parties are entered from initial financing statements and records
				into the UCC information management system in an acceptable character set. The
				acceptable character set shall be the extended ASCII character set
				(Windows-1252). When extended ASCII characters are presented in a name on a
				financing statement, they shall be accepted and indexed exactly as
				presented.
(5)
Total
				Page Count
. The total number of pages in a UCC record is
				maintained in the UCC information management system for filings made on or
				after February 19, 2001.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.21 - Names of Debtors who are Individuals

Current through Register 1525, July 5, 2024
950 CMR 140.21 applies to the name of an individual that is a
				  debtor or a secured party on a UCC record:
(1)
Individual Name
				Fields
. The names of individuals are stored in a field that
				includes only the names of individuals, and not the names of organizations.
				Separate data entry fields are established for first personal, surname and
				additional names (initials) of individuals. A filer should place the name of a
				debtor with a single name (
e.g
., "Cher") in the surname name
				field. The filing officer assumes no responsibility for the accurate
				designation of the components of a name but will enter the data in accordance
				with the filer's designations and exactly as provided by the filer.
(2)
Titles and Prefixes before
				Names
. Titles and prefixes, such as "Doctor," "Reverend," "Mr.,"
				and "Ms.," should not be entered in the UCC information management system.
				However, 950 CMR 140.21(1) provides that when a UCC record is submitted with
				designated name fields, the data will be entered in the UCC information
				management system exactly as it appears.
(3)
Titles and Suffixes after
				Names
. Titles or indications of status such as "M.D." and
				"Esquire" are not part of an individual's name and should not be provided by
				filers in UCC records. Suffixes that indicate which individual is being named,
				such as "Senior," "Junior," "I", "II," and "III," are appropriate. In either
				case, as provided in 950 CMR 140.21(1), they will be entered into the
				information management system exactly as received.
(4)
Truncation - Individual
				Names
. Personal name fields in the UCC database are fixed in
				length. Although filers should continue to provide full names on their UCC
				records, a name that exceeds the fixed length is entered as presented to the
				filing office, up to the maximum length of the data entry field. The length of
				data entry name fields are as follows:
(a)
First Personal Name
: 25 characters.
(b)
Surname
: 35
				characters.
(c)
Additional Names (Initials)
25 characters.
(d)
Suffix
: ten
				characters.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.22 - Names of Debtors that are Organizations

Current through Register 1525, July 5, 2024
950 CMR 140.22 applies to the name of an organization that is
				  a debtor or a secured party on a UCC record:
(1)
Single Field
.
				The names of organizations are stored in a single field that includes only the
				names of organizations and not the names of individuals.
(2)
Truncation - Organization
				Names
. The organization name field in the UCC database is fixed in
				length. The maximum length is 175 characters. Although filers should continue
				to provide full names on their UCC records, a name that exceeds the fixed
				length is entered as presented to the filing office, up to the maximum length
				of the data entry field.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.23 - Estates

Current through Register 1525, July 5, 2024
Although they are not human beings, estates are treated as if
				  the decedent were the debtor under
				  950 CMR
				  140.21.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.24 - Trusts

Current through Register 1525, July 5, 2024
If the trust is named in its organic document(s), its full
				  legal name, as set forth in such document(s), is used. If the trust is not so
				  named, the name of the trust's settlor is used. If a settlor is indicated to be
				  an organization, the name is treated as an organization name. If the settlor is
				  an individual, the name is treated as an individual name. A UCC record that
				  uses a settlor's name should include other information provided by the filer to
				  distinguish the debtor trust from other trusts, having the same settlor and all
				  UCC records filed against trusts or trustees acting with respect to property
				  held in trust should indicate the nature of the debtor. If this is done in, or
				  as part of, the name of the debtor, it will be entered as if it were a part of
				  the name.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.25 - Initial Financing Statement

Current through Register 1525, July 5, 2024
Upon the filing of an initial financing statement, it is
				  indexed in the UCC information management system with a unique file number and
				  the date and time of filing. Such financing statement shall remain on the index
				  until at least one year after the financing statement lapses.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.26 - Debtor Name

Current through Register 1525, July 5, 2024
The name and address of each debtor legibly set forth on the
				  financing statement is indexed on the UCC information management system. Each
				  debtor name will remain on the index until at least one year after the
				  financing statement lapses.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.27 - Secured Party Name

Current through Register 1525, July 5, 2024
The name and address of each secured party legibly set forth
				  in the financing statement is indexed on the UCC information management system.
				  Such name will remain on the index until at least one year after the financing
				  statement lapses.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.28 - Amendment

Current through Register 1525, July 5, 2024
(1) Upon filing an amendment, it will be
				indexed in the UCC information management system with a unique file number and
				the date and time of filing. The record of amendment is associated with the
				record of the initial financing statement. An amendment does not effect the
				lapse date of a financing statement, except that a continuation will extend the
				period of effectiveness of a financing statement.
(2)
Change of Debtor
				Name
. An amendment changing the name of a debtor will be indexed
				in the UCC information management system by adding the new name to the index as
				if it were a debtor of record. A search under either the debtor's old name or
				the debtor's new name will reveal the initial financing statement and related
				filings. A record referring to a debtor will not be removed from the UCC
				information management system merely because an amendment to the record deletes
				the debtor.
(3)
Change
				of Secured Party Name
. An amendment that changes the name of the
				secured party will be indexed on the UCC information management system by
				adding the new name to the index as if it were a secured party of record. A
				record referring to a debtor will not be removed from the UCC information
				management system merely because an amendment to the record deletes the
				debtor.
(4)
Deletion of
				Debtor or Secured Party
. An amendment that deletes a debtor or
				secured party will be indexed on the system, but the name of the debtor or
				secured party will remain in the index.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.29 - Assignment

Current through Register 1525, July 5, 2024
An amendment that is an assignment shall be indexed in the
				  UCC information management system in a manner that each named assignee and
				  secured party, or assignor, set forth will be indexed on the system. An
				  assignment shall have no effect on the lapse date of a financing
				  statement.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.30 - Continuation

Current through Register 1525, July 5, 2024
Upon the timely filing of one or more continuation statements
				  by any secured party of record, the lapse date shall be postponed for five
				  years. The lapse date is postponed once notwithstanding the fact that more than
				  one continuation statement is filed within a given 6-month period prior to a
				  lapse date.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.31 - Termination

Current through Register 1525, July 5, 2024
Upon filing, a termination statement will be indexed in the
				  UCC information management system. The termination and all related filings will
				  remain in the system until at least one year after it has been terminated with
				  respect to all secured parties of record.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.32 - Statement of Claim

Current through Register 1525, July 5, 2024
Upon filing, a statement of claim will be indexed in the UCC
				  information management system and associated with the UCC record to which it
				  relates. A statement of claim does not affect the lapse date of an initial
				  financing statement.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.33 - Procedure upon Lapse

Current through Register 1525, July 5, 2024
If there is no timely filing of a continuation with respect
				  to a financing statement, the financing statement lapses on its lapse date but
				  no action is then taken by the filing office. On the first anniversary of such
				  lapse date, the filing office may remove the financing statement from the
				  information management system and such statement will no longer be available to
				  a searcher unless inactive statements are requested by the searcher and the
				  financing statement is still retrievable on the information management
				  system.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › UCC Information Management System › Section 140.34 - Notice of Bankruptcy

Current through Register 1525, July 5, 2024
The filing office takes no action upon receipt of a
				  notification, formal or informal, of a bankruptcy proceeding involving a debtor
				  named in the UCC information management system. Accordingly, financing
				  statements will lapse as scheduled unless properly continued.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.35 - Policy Statement

Current through Register 1525, July 5, 2024
950 CMR 140.35 through
				  140.46 contains the
				  rules describing the filing procedures of the filing office upon and after
				  receipt of a UCC record. Except as provided in
				  950 CMR
				  140.21(4)  and
				  140.22(2),
				  data is transferred to the UCC information management system exactly as
				  specified in the UCC record. No effort is made to detect or correct errors of
				  any kind.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.36 - Paper Filings

Current through Register 1525, July 5, 2024
(1) Paper filings
				must be presented on the forms authorized in M.G.L. c. 106, §§
				9-521(a) and (b) or any form prescribed by the filing office.
(2) The filing must be accompanied by the
				appropriate fee in accordance with
				950 CMR 140.08.
(3) The filing record is scanned into and
				indexed on the UCC information management system. The image is reviewed to
				determine whether the filing will be accepted or rejected. The Filing Office,
				in its discretion, may redact social security numbers from the image displayed
				on the UCC Information Management System. Records are rejected only for reasons
				provided in M.G.L. c. 106, §§ 9-516 and
				950 CMR
				140.14.
(4)
Accepted Records
- If a record is accepted for filing, the file number, filing time and date are
				permanently associated with the financing statement on the UCC information
				management system upon the close of business on the day of acceptance. An
				acknowledgment is prepared as provided in
				950 CMR 140.17 and
				returned to the filer either by first-class mail or email. The acknowledgment
				contains the file number, filing time and date and a copy of the image of the
				record.
(5) If a filing is
				rejected, the filing will be returned to the filer as provided in
				950 CMR
				140.16.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.37 - Facsimile Filings

Current through Register 1525, July 5, 2024
(1) Each fax filing
				must be presented with a fax cover sheet downloaded from the Office of the
				Secretary of the Commonwealth's website. The filings must be on forms
				authorized in M.G.L. c. 106, §§ 9-521 (a) and (b) or any form
				prescribed by the filing office.
(2) The filing must be accompanied by the
				appropriate fee as provided in
				950 CMR 140.08.
(3) The filing is automatically scanned and
				indexed on the UCC information management system upon transmission. The image
				is reviewed to determine whether the filing will be accepted or rejected. The
				procedures for social security numbers, acknowledgments and rejections are the
				same as provided for paper transactions.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.38 - Electronic Filings

Current through Register 1525, July 5, 2024
(1) Electronic
				filings must be made as provided in the on-line information service system
				located at http://www.sec.state.ma.us/cor.
(2) Electronic transmissions must be received
				and accompanied by the appropriate fee as provided in
				950 CMR 140.08.
(3) The filing is reviewed to determine
				whether it will be accepted or rejected. The procedures for acknowledgment and
				rejection are the same as provided for paper transactions.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.39 - XML Filings

Current through Register 1525, July 5, 2024
(1)
XML
				Authorized.
(a) A filer may be
				authorized for XML transmission upon the written authorization of the filing
				officer. A request to be authorized to transmit XML records shall be in writing
				and delivered to the filing officer. Upon receipt of a request for
				authorization, the filing officer shall provide the filer with necessary
				information on the requirements for XML transmission, including format, address
				for transmission, and other necessary specifications.
(b) The filing officer shall authorize a
				filer to engage in XML transmissions if:
1.
				The filer has entered into an agreement, in form and substance satisfactory to
				the filing officer, with the filing office; and
2. The filing officer determines, after
				appropriate testing of transmissions in accordance with the filing officer's
				specifications, that the filer is capable of transmitting XML records in a
				manner that permits the filing officer to receive, index and retrieve the XML
				records.
3. The filing officer may
				suspend or revoke the authorization when, in the filing officer's sole
				discretion, it is determined that a filer's transmissions are incompatible with
				the filing officer's XML system.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.40 - Data Entry

Current through Register 1525, July 5, 2024
Data entry and indexing functions are performed as
				  follows:
(1)
Filing
				Date
. The time and date of filing are determined as provided in
				950 CMR
				140.06.
(2)
Lapse Date
. A
				lapse date is calculated for each initial financing statement (unless the
				debtor is a transmitting utility). The lapse date is the same date of the same
				month as the filing date in the fifth year after the filing date or the
				relevant subsequent fifth anniversary thereof if a timely continuation
				statement is filed. If the initial financing statement indicates that it is
				filed with respect to a public finance transaction or a manufactured home
				transaction, the lapse date is the same date of the month as the filing date in
				the 30th year after the filing date. The relevant
				anniversary for a February 29th filing date shall be
				March 1st in the fifth or
				30th year following the date of filing. The last day
				on which a continuation may be filed is the date upon which the financing
				statement lapses.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.41 - Errors of the Filing Officer

Current through Register 1525, July 5, 2024
The filing office may correct the errors of filing officer
				  personnel in the UCC information management system at any time. A record
				  relating to the relevant initial financing statement will be placed in the UCC
				  information management system stating the date of the correction and explaining
				  the nature of the corrective action taken. The record shall be preserved for so
				  long as the record of the initial financing statement is preserved in the UCC
				  information management system.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.42 - Errors Other than Filing Officer Errors

Current through Register 1525, July 5, 2024
An error by a filer is the responsibility of such filer. It
				  can be corrected by filing an amendment or it can be disclosed by an
				  information statement.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.43 - Data Entry of Names - Designated Fields

Current through Register 1525, July 5, 2024
A filing should designate whether a name is a name of an
				  individual or an organization and, if an individual, also designate the first
				  personal, surname, additional names (initials) and any suffix. When this is
				  done, 950 CMR 140.43(1) through (3) shall apply:
(1)
Organization
				Names
. Organization names are entered into the UCC information
				management system exactly as set forth in the UCC record, even if it appears
				that multiple names are set forth in the record or if it appears that the name
				of an individual has been included in the field designated for an organization
				name.
(2)
Individual
				Names
. The filing officer enters the names into the first
				personal, surname, additional names (initials) and suffix fields in the UCC
				information management system exactly as set forth in the UCC record.
(3)
Designated Fields
				Required
. The filing office specified the use of forms that
				designate separate fields for individual and organization names and separate
				fields for first, middle and last names and any suffix. Such forms diminish the
				possibility of filing office error and help assure that filers' expectations
				are met. However, filers should be aware that the inclusion of names in an
				incorrect field or failures to transmit names accurately to the filing office
				may cause filings to be ineffective. All records submitted through direct data
				entry or through XML will be required to use designated name fields.
(4)
Past Practice
.
				Prior to July 1, 2001, Article 9 did not distinguish between registered
				organizations and individual. All debtors were entered onto the index in the
				same field. The maximum length of the field was 40 characters. Individual names
				were entered as follows: last name, first name, middle name, suffix. If a filer
				included more than one debtor, the information was entered on the same field in
				the order presented. For example, Robert and Karen Jones would have been
				entered as Jones, Robert and Karen. Robert Smith and David Jones would have
				been entered as Smith, Robert and Jones, David. Further, if a filing was
				presented as City of Boston, it was entered as Boston, City of. The Division
				has converted the data to the new format if a UCC financing statement filed
				under Article 9 has been continued under Revised Article 9.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.44 - Data Entry of Names - No Designated Fields

Current through Register 1525, July 5, 2024
A UCC record that is an initial financing statement or an
				  amendment that adds a debtor to a financing statement and that fails to specify
				  whether the debtor is an individual or an organization will be refused by the
				  filing office.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.45 - Verification of Data Entry

Current through Register 1525, July 5, 2024
The filing officer verifies the accuracy of data entry by
				  independent examination of the following fields:
(1) Time and date of filing;
(2) record type;
(3) debtor name;
(4) debtor address.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Filing and Data Entry Procedures › Section 140.46 - Archives

Current through Register 1525, July 5, 2024
(1) Paper UCC records are scanned into the
				UCC information management system. The paper filing is retained for at least
				six months and then destroyed. The image is maintained until at least one year
				from the date of lapse in the archive file.
(2) Facsimile and electronic filings are
				maintained for at least one year following the lapse date in the archive
				file.
(3) The UCC information
				management system database is backed up every business day.
(4) Archival searches may be made available
				through arrangements with the filing office as it determines in its sole
				discretion.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Search Requests › Section 140.47 - General Requirements

Current through Register 1525, July 5, 2024
The filing officer maintains for public inspection a
				  searchable index for all UCC records. The index is retrievable by the name of
				  the debtor or by the file number of the initial financing statement to which
				  the record relates and which associates with one another each initial financing
				  statement and each filed UCC record relating to the initial financing
				  statement.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Search Requests › Section 140.48 - Search Requests

Current through Register 1525, July 5, 2024
Each search request shall contain the following
				  information:
(1) The name of the
				debtor to be searched, specifying whether the debtor is an individual or
				organization. Each search request shall be processed using the name in the
				exact format it is submitted, including the submission of no data in a given
				field, without regard to the nature or character of the debtor that is the
				subject of the search;
(2) The name
				and address of the person to whom the search results are to be sent.
(3) A request to limit the copies of records
				by restricting the search to a city, a filing date or range of filing dates, or
				the identity of the secured party of record;
(4) A request to include lapsed filings;
				or
(5) Instructions on the mode of
				delivery desired, if other than by ordinary mail. This request will be honored
				if the requested mode is available to the filing office.
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Search Requests › Section 140.49 - Search Logic

Current through Register 1525, July 5, 2024
Search results shall be produced by applying only
				  standardized search logic to each name presented to the filing officer. Human
				  judgment shall not play a role in determining the results of the search. The
				  standardized search logic used shall meet the following criteria:
(1) There is no limit to the number of
				matches that may be returned in response to the search criteria.
(2) The characters searched are letters "a"
				through "z" and numbers 0 through 9. The following English letters shall also
				return the following non-English Latin characters in a name:
Click to
				  view image
(3)
				No distinction is made between uppercase and lowercase letters, and all letters
				are converted to uppercase in the filing office database. Each search request
				shall be processed using the name in the exact form in which it is submitted.
				If no data is submitted in a given field, the search request shall be processed
				without reference to the field, except as provided in 950 CMR 140.49.
(4) Punctuation marks, accents and suffixes
				are disregarded. All characters in the extended ASCII character set
				(Windows-1252) not otherwise defined in 950 CMR 140.49(2) shall be
				disregarded.
(5) Words and
				abbreviations at the end of a name that indicate the existence or nature of an
				organization are disregarded. These words and abbreviations include the
				following:
(a) "Corporation" or the
				abbreviation "Corp.";
(b)
				"Incorporated" or the abbreviation "Inc.";
(c) "Professional corporation," or the
				abbreviations "Prof. corp." or "P.C.";
(d) "Company" or the abbreviation
				"Co.";
(e) "Limited" or the
				abbreviation "Ltd.";
(f) "Limited
				partnership," or the abbreviations "Ltd. partnership," "Ltd. part."
				"L.P";
(g) "Limited liability
				company" or the abbreviations "L.L.C' or "L.L.Co.";
(h) "Limited liability partnership,"
				"Massachusetts limited liability partnership" or the abbreviation
				"L.L.P.";
(i) "Massachusetts
				business trust" or "Business trust";
Code of Massachusetts Regulations › 950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH › Title 950 CMR 140.00 - Practices And Procedures Relative To Revised MGL C.106, Article 9 Of The Uniform Commercial Code › Search Requests › Section 140.50 - Search Responses

Current through Register 1525, July 5, 2024
Responses to a search request shall include the
				  following:
(1) The identification of
				the filing officer and the certification of the filing officer;
(2) The date the report was
				generated;
(3) The through
				date;
(4) The exact name as
				provided by the searcher;
(5) The
				normalized name, as provided by
				950 CMR
				140.49;
(6) A list of each financing statement filed
				on or before the certification date and time corresponding to the search
				criteria, by name of debtor, by financing statement file number, and by the
				file date and file time of 5:00 P.M.; and
(7) For each unlapsed initial financing
				statement on the report, a copy of all related UCC records filed by the filing
				officer on or before the certification date and time is provided upon request
				when the appropriate fee is paid in accordance with
				950 CMR 140.08.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 1.00 - Regulation Of The Insurance Premium Finance Board Governing Hearings Held Pursuant To The Provisions Of M.g.l. C. 175, Section 162b › Section 1.01 - Scope of Regulation

Current through Register 1525, July 5, 2024
955 CMR 1.00 shall govern hearings held by the Insurance Premium Finance Board, hereinafter called "The Board", pursuant to the provisions of M.G.L. c. 175, § 162B, as amended.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 1.00 - Regulation Of The Insurance Premium Finance Board Governing Hearings Held Pursuant To The Provisions Of M.g.l. C. 175, Section 162b › Section 1.02 - Nature of Hearing

Current through Register 1525, July 5, 2024
All hearings held pursuant to the provisions of M.G.L. c. 175, § 162B, shall be rule-making hearings.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 1.00 - Regulation Of The Insurance Premium Finance Board Governing Hearings Held Pursuant To The Provisions Of M.g.l. C. 175, Section 162b › Section 1.03 - Filing of Documents

Current through Register 1525, July 5, 2024
All material required to be filed with the Board shall be filed with the Executive Secretary. Unless otherwise specifically notified, a party shall file an original and four copies of each document (and paper) required by the Board.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 1.00 - Regulation Of The Insurance Premium Finance Board Governing Hearings Held Pursuant To The Provisions Of M.g.l. C. 175, Section 162b › Section 1.04 - Notice of Hearing

Current through Register 1525, July 5, 2024
Reasonable notice of the hearing shall be accorded all interested parties and shall include a statement of the time and place of the hearing. Parties shall have sufficient notice of the issues involved to afford them reasonable opportunity to prepare and present evidence and argument. If the issues cannot be fully stated in advance of the hearing, they shall be fully stated as soon as practicable. In all cases of delayed statements, or where subsequent amendment of the issues is necessary, sufficient time shall be allowed to afford all parties reasonable opportunity to prepare and present evidence and argument respecting the issues.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 1.00 - Regulation Of The Insurance Premium Finance Board Governing Hearings Held Pursuant To The Provisions Of M.g.l. C. 175, Section 162b › Section 1.05 - Parties to a Hearing

Current through Register 1525, July 5, 2024
(1) The Board may initiate a hearing at any time by giving notice to all interested parties.
(2) The Board may hold a hearing upon petition of any interested party.
(3) An interested party shall include persons substantially and specifically affected by the proceeding, as well as the Division of Banks and Loan Agencies, the Division of Insurance, and the Department of The Attorney General.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 1.00 - Regulation Of The Insurance Premium Finance Board Governing Hearings Held Pursuant To The Provisions Of M.g.l. C. 175, Section 162b › Section 1.06 - Conduct of Hearing

Current through Register 1525, July 5, 2024
(1) All hearings shall be conducted in the presence of a majority of the Board.
(2) The Chairman, under the direction of the Board, shall have authority to permit the examination of witnesses, to rule upon the admissibility of evidence, to allow and deny motions, to limit testimony to oral or written presentation as appropriate and to adjourn or relocate a hearing.
(3) The Chairman, or a person designated by him or her, shall have the power to administer oaths and affirmations.
(4) The Board may issue subpoenas authorized by law and shall issue such at the request of interested parties.
(5) The Board may in its discretion before or during a hearing direct the interested parties to prefile direct testimony and evidence. All prefiled testimony shall be considered to be admitted into evidence and shall be part of the record of the hearing.
(6) The Board may in its discretion before or during a hearing direct the interested parties to appear before it for a conference to consider:
(a) a simplification of issues;
(b) the necessity or desirability of amendments to any notice or petition served or to be served;
(c) the possibility of obtaining admissions of fact and of documents which will avoid unnecessary proof;
(d) a limitation on the number of expert witnesses; and
(e) such other matters as may aid in the disposition of the proceeding before the Board.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 1.00 - Regulation Of The Insurance Premium Finance Board Governing Hearings Held Pursuant To The Provisions Of M.g.l. C. 175, Section 162b › Section 1.07 - Filing of Briefs

Current through Register 1525, July 5, 2024
Each party shall have a period of 30 days from the termination of the hearing, or until such other time as the Board may for good cause determine, to file a brief, a copy of which shall be forwarded by the person filing the brief to every other party desiring it.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 1.00 - Regulation Of The Insurance Premium Finance Board Governing Hearings Held Pursuant To The Provisions Of M.g.l. C. 175, Section 162b › Section 1.08 - Decision of the Board

Current through Register 1525, July 5, 2024
A copy of the decision of the Board shall be furnished to each licensee and to each interested party. The decision shall be recorded with the Secretary of the Commonwealth pursuant to the provisions of law
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 1.00 - Regulation Of The Insurance Premium Finance Board Governing Hearings Held Pursuant To The Provisions Of M.g.l. C. 175, Section 162b › Section 1.09 - Limitations

Current through Register 1525, July 5, 2024
No part of 955 CMR 1.00 is intended to limit the power of the Board contained in said M.G.L. c. 175, § 162B.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 2.00 - The Financing Of Insurance Premiums › Section 2.01 - Authority and Repeal

Current through Register 1525, July 5, 2024
Pursuant to the provisions of M.G.L. c. 175, § 162B, after notice and public hearings in accordance with the provisions of M.G.L. c. 30A, the Board established by M.G.L. c. 175, § 162B hereby orders that 955 CMR 2.02 and 2.10 of its rate order filed with the Secretary of the Commonwealth on June 30, 1982 be repealed and the following substituted.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 2.00 - The Financing Of Insurance Premiums › Section 2.02 - Finance Charges

Current through Register 1525, July 5, 2024
The charge for interest on an insurance premium finance agreement shall not be in excess of 18% per annum of the unpaid balances of the amount financed calculated according to the actuarial method plus an administrative fee of $16.00 upon the granting of the credit. The administrative fee may not be charged when the proceeds of an agreement are used to prepay an outstanding agreement, and such fee may be excluded from any refund or credit due upon prepayment in full of the agreement.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 2.00 - The Financing Of Insurance Premiums › Section 2.03 - Precomputation

Current through Register 1525, July 5, 2024
When an agreement requires repayment in substantially equal and consecutive monthly installments of principal and interest, the interest charge may be precomputed on scheduled monthly principal balances at a rate not inexcess of that established by this Board. Such precomputed interest shall be applied to the unpaid balance of the agreement until it is fully paid. For the purpose of computation, whether at the maximum rate or less, a month shall be that period of time from any date in a month to the corresponding date in the next month or, if there is no such corresponding date, to the last day of the next month. A day shall be considered one-thirtieth of a month when computation is made for a fraction of a month.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 2.00 - The Financing Of Insurance Premiums › Section 2.04 - Extension Charges

Current through Register 1525, July 5, 2024
If the first installment date is more than one month after the date of an agreement, an extension charge may be made and collected not exceeding one-thirtieth of the portion of the precomputed interest charge applicable to the first installment period of one month for each day that the first installment date is deferred beyond one month. Such extension charge may be collected at the time of payment of the first installment or at any time thereafter. If the first installment date is less than one month after the date of the agreement, an amount not less than one-thirtieth of the portion of the precomputed interest charge applicable to the first installment period of one month shall be credited against the precomputed interest charge on the date of the agreement for each day the first installment is less than one month.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 2.00 - The Financing Of Insurance Premiums › Section 2.05 - Default Charges

Current through Register 1525, July 5, 2024
In the event of a default of more than ten days in the payment in full of any scheduled installment, a default charge may be made and collected in an amount not in excess of five percent of each installment in default. Such charge may not be collected more than once for the same default and may be collected at the time of default or at any time thereafter. It may be deducted from any payment received after a default occurs, but if this results in the default of a subsequent installment, no charge shall be made for such subsequent default. When an agreement is primarily for personal, family or household purposes, the maximum allowable default charge is $5.00.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 2.00 - The Financing Of Insurance Premiums › Section 2.06 - Cancellation Charge

Current through Register 1525, July 5, 2024
When the agreement so provides, a cancellation charge which is permitted pursuant to M.G.L. c. 255C, § 15 may be made and collected in an amount not to exceed the greater of 2% of the unpaid balance due on the agreement or $5.00. No cancellation charge may be assessed except in connection with a cancellation notice pursuant to M.G.L. c. 255C, § 21, which has been issued to the policyholder more than ten days after the effective date of a charge permitted herein under 955 CMR 2.05 and further provided that, when an agreement is primarily for personal, family or household purposes, the maximum allowable cancellation charge shall be Five dollars. It is further provided that the amount, if any, by which any cancellation charge allowed exceeds Five dollars may be collected if and only if the cancellation issued has become effective. No cancellation charge may be assessed or collected for more than one cancellation notice issued during the term of the agreement. Any cancellation charge due may be deducted from the gross unearned premiums received from the insurer.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 2.00 - The Financing Of Insurance Premiums › Section 2.07 - Prepayment of Agreements

Current through Register 1525, July 5, 2024
If an agreement is prepaid in full by cash, by a new agreement or by refinancing of such agreement, the debtor shall receive a refund or credit of a portion of the precomputed interest charge. The amount of any such refund or credit shall represent at least as great a proportion of the total amount of the precomputed interest charge as the sum of the scheduled periodic total of payments after the date of prepayment, as the date of prepayment is fixed below bears to the sum of the scheduled periodic total of payment under the schedule of installments in the original agreement. Such computation of refund or credit shall be made under the so-called sum-of-the-digits method. If the prepayment is made other than on an installment due date, it shall be deem to have been made on the first installment due date if the prepayment occurs before that date, and in any other case it shall be deemed to have been made on the next preceding or next succeeding installment due date, whichever is nearer to the date of prepayment.
Code of Massachusetts Regulations › 955 CMR - INSURANCE PREMIUM FINANCE AGENCY › Title 955 CMR 2.00 - The Financing Of Insurance Premiums › Section 2.08 - Merit Rating Surcharges and Credits

Current through Register 1525, July 5, 2024
The term "cash price" as used in M.G.L. c. 255C, § 13, in the case of motor vehicle insurance may include any merit rating surcharges or credits.