2006 Minnesota Code
Chapters 324 - 338 Trade Regulations, Consumer Protection
Chapter 336 Uniform Commercial Code
Section 336.9-520 ACCEPTANCE AND REFUSAL TO ACCEPT RECORD.

336.9-520 ACCEPTANCE AND REFUSAL TO ACCEPT RECORD.
(a) Mandatory refusal to accept record. A filing office shall refuse to accept a record for
filing for a reason set forth in section 336.9-516(b) and may refuse to accept a record for filing
only for a reason set forth in section 336.9-516(b).
(b) Communication concerning refusal. 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 two business days after the filing office receives the record.
(c) When filed financing statement effective. A filed financing statement satisfying section
336.9-502(a) and (b) is effective, even if the filing office is required to refuse to accept it for
filing under subsection (a). However, section 336.9-338 applies to a filed financing statement
providing information described in section 336.9-516(b)(5) which is incorrect at the time the
financing statement is filed.
(d) Separate application to multiple debtors. 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.
History: 2000 c 399 art 1 s 91

Disclaimer: These codes may not be the most recent version. Minnesota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.