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Can you summarize 8.9A VACV Part 5?
Commercial Code Secured Transactions >
Short Summary
The provided legal document governs the duties and operation of the filing office in relation to the acknowledgment of filing written records and other records, communication of requested information, medium for communicating information, timeliness of filing office performance, and public availability of records. The filing office is required to provide an acknowledgment of the filing to the person who files a written record, either by sending an image of the record with the assigned number and filing date and time, or by noting the information on a copy of the record and sending it to the person. For records other than written records, the filing office must communicate an acknowledgment that includes the information in the record, the assigned number, and the filing date and time. The filing office is also obligated to provide requested information, such as the existence of financing statements, filing dates and times of financing statements, and the information provided in each financing statement. The filing office may communicate information in any medium or provide a list of private record research services, but must issue a written certificate if requested. The filing office must perform these acts within five business days of receiving the request. Additionally, the State Corporation Commission is required to offer copies of all records filed under this part for sale or license to the public on a nonexclusive basis, in bulk, and in various mediums available to the filing office.
Whom does it apply to?
The filing office responsible for receiving and processing written records and other records related to secured transactions.
What does it govern?
The duties and operation of the filing office in relation to the acknowledgment of filing written records and other records, communication of requested information, medium for communicating information, timeliness of filing office performance, and public availability of records.
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Virginia