§ 9-516 — What Constitutes Filing; Effectiveness of Filing

New York § 9-516

• Jurisdiction: New York
• Law UCC: Uniform Commercial Code
• Part 5: Filing
• Subpart 1: Filing Office; Contents and Effectiveness of Financing Statement
• Art. 9: Secured Transactions

Text

Section 9--516. What Constitutes Filing; Effectiveness of Filing.\n (a) What constitutes filing. Except as otherwise provided in\nsubsection (b), communication of a record to a filing office and tender\nof the filing fee or acceptance of the record by the filing office\nconstitutes filing.\n (b) Refusal to accept record; filing does not occur. Filing does not\noccur with respect to a record that a filing office refuses to accept\nbecause:\n (1) the record is not communicated by a method or medium of\n communication authorized by the filing office;\n (2) an amount equal to or greater than the applicable filing fee\n is not tendered;\n (3) the filing office is unable to index the record because:\n (A) in the case of an initial financing statement, the record\n does not provide a name for the debtor;\n (B) in the case of an amendment or correction statement, the\n record:\n (i) does not identify the initial financing statement as\n required by Section 9--512 or 9--518, as applicable;\n or\n (ii) identifies an initial financing statement whose\n effectiveness has lapsed under Section 9--515;\n (C) in the case of an initial financing statement that\n provides the name of a debtor identified as an individual\n or an amendment that provides a name of a debtor\n identified as an individual which was not previously\n provided in the financing statement to which the record\n relates, the record does not identify the debtor's last\n name; or\n (D) in the case of a record filed in the filing office\n described in Section 9--501 (a) (1), the record does not\n provide a sufficient description of the real property to\n which it relates;\n (4) in the case of an initial financing statement or an amendment\n that adds a secured party of record, the record does not\n provide a name and mailing address for the secured party of\n record;\n (5) in the case of an initial financing statement or an amendment\n that provides a name of a debtor which was not previously\n provided in the financing statement to which the amendment\n relates, the record does not:\n (A) provide a mailing address for the debtor; or\n (B) indicate whether the debtor is an individual or an\n organization;\n (C) if the financing statement indicates that the debtor is\n an organization, provide:\n (i) a type of organization for the debtor, or\n (ii) a jurisdiction of organization for the debtor; or\n (6) in the case of an assignment reflected in an initial\n financing statement under Section 9--514(a) or an amendment\n filed under Section 9--514(b), the record does not provide a\n name and mailing address for the assignee; or\n (7) in the case of a continuation statement, the record is not\n filed within the six-month period prescribed by Section\n 9--515(d).\n (c) Rules applicable to subsection (b). For purposes of subsection\n(b):\n (1) a record does not provide information if the filing office is\n unable to read or decipher the information; and\n (2) a record that does not indicate that it is an amendment or\n identify an initial financing statement to which it relates,\n as required by Section 9--512, 9--514, or 9--518, is an\n initial financing statement.\n (d) Refusal to accept record; record effective as filed record. A\nrecord that is communicated to the filing office with tender of the\nfiling fee, but which the filing office refuses to accept for a reason\nother than one set forth in subsection (b), is effective as a filed\nrecord except as against a purchaser of the collateral which gives value\nin reasonable reliance upon the absence of the record from the files.\n (e) Special rule for cooperative interests; record effective as\nnotice. A filing that includes a cooperative addendum covering a\ncooperative interest constitutes notice of the existence of the security\ninterest in the cooperative interest as of the date of the filing of the\ncooperative addendum, except as against a purchaser of the collateral\nwhich gives value in reasonable reliance upon the absence of the record\nfrom the files.\n