Iowa Administrative Code › Agency 721 - Secretary of State › Division III - Uniform Commercial Code › Chapter 30 - Uniform Commercial Code › Rule 721-30.2 - Acceptance and Refusal of Documents

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Duty to file.
Provided that there is no ground to refuse acceptance of the document under
										30.2(2), a UCC document is filed upon its receipt by the filing officer with the filing fee, and the riling
										officer shall promptly assign a file number to the UCC document and index it in the information management
										system.
(2)
Grounds for refusal of UCC document.
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: it
										requires a machine-readable transmission for electronic transmissions and an otherwise readily decipherable
										transmission in other cases.
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 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 a 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.
Additional debtor identification.
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, or if, for each debtor identified
										as an organization, the document does not include in legible form the organization's type, state of
										organization and organization number (if it has one) or a statement that it does not have one.
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.
Lack of identification of initial financing statement.
A UCC document other than an initial financing statement shall be refused if the document does not provide a
										file number of a financing statement in the UCC information management system that has not lapsed.
e.
Identifying information.
A UCC document that does not
										identify itself as an amendment or identify an initial financing statement to which it relates, as required
										by Iowa Code sections 554.9512, 554.9514, and 554.9518, is an initial financing statement.
f
Timeliness of continuation.
A 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 last 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 date upon which the financing
										statement lapses.
g.
Fee.
A document
										shall be refused if the document is accompanied by less than the full filing fee tendered by a method
										described in 30.1(11).
h.
Means of
										communication.
UCC documents communicated to the filing office by a means of communication not
										authorized by the filing officer for the communication of UCC documents shall be refused.
i.
XML refusal.
UCC documents communicated by XML may be
										refused as provided in 30.3(3) for reasons not applicable to other communications
										methods.