§ 36-9-518 — Claim concerning inaccurate or wrongfully filed record.

South Carolina § 36-9-518

• Jurisdiction: South Carolina
• Title 36: COMMERCIAL CODE
• Ch. 9: COMMERCIAL CODE—SECURED TRANSACTIONS

Text

(a) A person may file in the filing office an information statement with respect to a record indexed there under the person's name if the person believes that the record is inaccurate or was wrongfully filed. (b) An information statement under subsection (a) must: (1) identify the record to which it relates by: (A) the file number assigned to the initial financing statement to which the record relates; and (B) if the information statement relates to a record filed or recorded in a filing office described in Section 36-9-501(a)(1), the date and time that the initial financing statement was filed or recorded and the information specified in Section 36-9-502(b); (2) indicate that it is an information statement; and (3) provide the basis for the person's belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person's belief that the record was wrongfully filed. (c) A person may file in the filing office an information statement with respect to a record filed there if the person is a secured party of record with respect to the financing statement to which the record relates and believes that the person that filed the record was not entitled to do so under Section 36-9-509(d). The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record. (d) An information statement under subsection (c) must: (1) identify the record to which it relates by: (A) the file number assigned to the initial financing statement to which the record relates; and (B) if the information statement relates to a record filed or recorded in a filing office described in Section 36-9-501(a)(1), the date and time that the initial financing statement was filed or recorded and the information specified in Section 36-9-502(b); (2) indicate that it is an information statement; and (3) provide the basis for the person's belief that the person that filed the record was not entitled to do so pursuant to Section 36-9-509(d). (e) In the case of an information statement alleging that a previously filed record was filed wrongfully and that it should have been rejected pursuant to Section 36-9-516(b)(8) or (9), the Secretary of State, without undue delay, shall determine if the contested record was filed wrongfully and should have been rejected. To determine if the record was filed wrongfully, the Secretary of State may require the person filing the information statement and the secured party to provide additional relevant information requested by the Secretary of State including an original or a copy of a security agreement that is related to the record. If the Secretary of State finds that the record was filed wrongfully and should have been rejected pursuant to Section 36-9-516(b)(8) or (9), the Secretary of State shall cancel the record and it is void and of no effect.

Legislative History

HISTORY: 2001 Act No. 67, SECTION 12; 2005 Act No. 161, SECTION 37.C, eff upon approval (became law without the Governor's signature on June 9, 2005); 2013 Act No. 96, SECTION 16, eff July 1, 2013. Effect of Amendment The 2005 amendment added subsection (d) relating to records wrongly filed. Subpart 2 Duties and Operation of Filing Office