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Kentucky Revised Statutes Title XXIX. Commerce and Trade § 355.9-516. What constitutes filing;  effectiveness of filing

Current as of January 01, 2021 | Updated by FindLaw Staff

(1)  Except as otherwise provided in subsection (2) of this section, communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing.

(2)  Filing does not occur with respect to a record that a filing office refuses to accept because:

(a) The record is not communicated by a method or medium of communication authorized by the filing office;

(b) An amount equal to or greater than the applicable filing fee is not tendered;

(c) The filing office is unable to index the record because:

1. In the case of an initial financing statement, the record does not provide a name for the debtor;

2. In the case of an amendment or information statement, the record:

a. Does not identify the initial financing statement as required by KRS 355.9-512 or 355.9-518, as applicable;  or

b. Identifies an initial financing statement whose effectiveness has lapsed under KRS 355.9-515;

3. In the case of an initial financing statement that provides the name of a debtor identified as an individual or an amendment that provides a name of a debtor identified as an individual which was not previously provided in the financing statement to which the record relates, the record does not identify the debtor's surname;  or

4. In the case of a record filed in the filing office described in KRS 355.9-501(1)(a), the record does not provide a sufficient description of the real property to which it relates;

(d) In the case of an initial financing statement or an amendment that adds a secured party of record, the record does not provide a name and mailing address for the secured party of record;

(e) In the case of an initial financing statement or an amendment that provides a name of a debtor which was not previously provided in the financing statement to which the amendment relates, the record does not:

1. Provide a mailing address for the debtor;  or

2. Indicate whether the debtor is an individual or an organization;

(f) In the case of an assignment reflected in an initial financing statement under KRS 355.9-514(1) or an amendment filed under KRS 355.9-514(2), the record does not provide a name and mailing address for the assignee;  or

(g) In the case of a continuation statement, the record is not filed within the six (6) month period prescribed by KRS 355.9-515(4).

(3)  For purposes of subsection (2) of this section:

(a) A record does not provide information if the filing office is unable to read or decipher the information;  and

(b) A record that does not indicate that it is an amendment or identify an initial financing statement to which it relates, as required by KRS 355.9-512, 355.9-514, or 355.9-518, is an initial financing statement.

(4)  A record that is communicated to the filing office with tender of the filing fee, but which the filing office refuses to accept for a reason other than one set forth in subsection (2) of this section, is effective as a filed record except as against a purchaser of the collateral which gives value in reasonable reliance upon the absence of the record from the files.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXIX. Commerce and Trade § 355.9-516. What constitutes filing;  effectiveness of filing - last updated January 01, 2021 | https://codes.findlaw.com/ky/title-xxix-commerce-and-trade/ky-rev-st-sect-355-9-516/

Read this complete Kentucky Revised Statutes Title XXIX. Commerce and Trade § 355.9-516. What constitutes filing;  effectiveness of filing on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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