§ 554.9520 — Acceptance and refusal to accept record

Iowa § 554.9520

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 554: UNIFORM COMMERCIAL CODE

Text

1. Mandatory refusal to accept record. A filing office shall refuse to accept a record for
filing for a reason set forth in section 554.9516, subsection 2, and may refuse to accept a
record for filing only for a reason set forth in section 554.9516, subsection 2.
2. 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.
3. Whenfiledfinancingstatementeffective. Afiledfinancingstatementsatisfyingsection
554.9502, subsections 1 and 2, is effective, even if the filing office is required to refuse to
accept it for filing under subsection 1. However, section 554.9338 applies to a filed financing
statement providing information described in section 554.9516, subsection 2, paragraph “e”,
which is incorrect at the time the financing statement is filed.
4. 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.