As Amended
SEC. 75-9-516. What constitutes filing; effectiveness of filing.
(a) Except as otherwise provided in subsection (b), communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing.
(b) Filing does not occur with respect to a record that a filing office refuses to accept because:
(1) The record is not communicated by a method or medium of communication authorized by the filing office;
(2) An amount equal to or greater than the applicable filing fee is not tendered;
(3) The filing office is unable to index the record because:
(A) In the case of an initial financing statement, the record does not provide a name for the debtor;
(B) In the case of an amendment or correction statement, the record:
(i) Does not identify the initial financing statement as required by Section 75-9-512 or 75-9-518, as applicable; or
(ii) Identifies an initial financing statement whose effectiveness has lapsed under Section 75-9-515;
(C) In the case of an initial financing statement that provides the name of a debtor identified as an individual or an amendment that provides a name of a debtor identified as an individual which was not previously provided in the financing statement to which the record relates, the record does not identify the debtor's last name; or
(D) In the case of a record filed, or filed for record, in the filing office described in Section 75-9-501(a)(1), the record does not provide a sufficient description of the real property to which it relates;
(4) In the case of an initial financing statement or an amendment that adds a secured party of record, the record does not provide a name and mailing address for the secured party of record;
(5) In the case of an initial financing statement or an amendment that provides a name of a debtor which was not previously provided in the financing statement to which the amendment relates, the record does not:
(A) Provide a mailing address for the debtor;
(B) Indicate whether the debtor is an individual or an organization; or
(C) If the financing statement indicates that the debtor is an organization, provide:
(i) A type of organization for the debtor;
(ii) A jurisdiction of organization for the debtor; or
(iii) An organizational identification number for the debtor or indicate that the debtor has none;
(6) In the case of an assignment reflected in an initial financing statement under Section 75-9-514(a) or an amendment filed under Section 75-9-514(b), the record does not provide a name and mailing address for the assignee; or
(7) In the case of a continuation statement, the record is not filed within the six-month period prescribed by Section 75-9-515(d).
(c) For purposes of subsection (b):
(1) A record does not provide information if the filing office is unable to read or decipher the information; and
(2) A record that does not indicate that it is an amendment or identify an initial financing statement to which it relates, as required by Section 75-9-512, 75-9-514 or 75-9-518, is an initial financing statement.
(d) A record that is communicated to the filing office with tender of the filing fee, but which the filing office refuses to accept for a reason other than one set forth in subsection (b), is effective as a filed record except as against a purchaser of the collateral which gives value in reasonable reliance upon the absence of the record from the files.
SOURCES: Derived from former 1972 Code § 75-9-403 [Codes, 1942, § 41A:9-403; Laws, 1966, ch. 316, § 9-403; Laws, 1977, ch. 452, § 26; Laws, 1978, ch. 401, § 8; Laws, 1979, ch. 369; Laws, 1985, ch. 381, § 1; Laws, 1987, ch. 373, eff from and after July 1, 1987] and enacted by Laws, 2001, ch. 495, § 1, SB 2626, eff from and after Jan. 1, 2002.