South Carolina § 36-9-520 Acceptance and refusal to accept record.

South Carolina Statutes

§ 36-9-520 — Acceptance and refusal to accept record.

South Carolina·Title 36 COMMERCIAL CODE·Ch. 9 COMMERCIAL CODE—SECURED TRANSACTIONS

(a)A filing office shall refuse to accept a record for filing for a reason set forth in Section 36-9-516(b) and may refuse to accept a record for filing only for a reason set forth in Section 36-9-516(b).

(b)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 the case of a filing office described in Section 36-9-501(a)(2), in no event more than two business days after the filing office receives the record.

(c)A filed financing statement satisfying Section 36-9-502(a) and (b) is effective, even

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(a) A filing office shall refuse to accept a record for filing for a reason set forth in Section 36-9-516(b) and may refuse to accept a record for filing only for a reason set forth in Section 36-9-516(b). (b) 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 the case of a filing office described in Section 36-9-501(a)(2), in no event more than two business days after the filing office receives the record. (c) A filed financing statement satisfying Section 36-9-502(a) and (b) is effective, even if the filing office is required to refuse to accept it for filing under subsection (a). However, Section 36-9-338 applies to a filed financing statement providing information described in Section 36-9-516(b)(5) which is incorrect at the time the financing statement is filed. (d) 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. (e)(1) If the Secretary of State refuses to accept a record for filing pursuant to Section 36-9-516 (b)(8) or (9) or cancels a wrongfully filed record pursuant to Section 36-9-518(d) the secured party may file an appeal within thirty days after the refusal or cancellation in the Administrative Law Court consistent with the Administrative Law Court rules. (2) The Administrative Law Court's final decision may be appealed as in accordance with Administrative Law Court rules.

South Carolina § 36-9-520 (Acceptance and refusal to accept record.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: 2001 Act No. 67, SECTION 12; 2005 Act No. 161, SECTION 37.D, eff upon approval (became law without the Governor's signature on June 9, 2005). Effect of Amendment The 2005 amendment added subsection (e) relating to appeals from the Secretary of State's refusal to file or cancellation of filing.