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Can you summarize IACO 554.9516?
UNIFORM COMMERCIAL CODE > What constitutes filing effectiveness of filing.
Short Summary
This legal document pertains to the filing of records with a filing office under the Uniform Commercial Code. It states that 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, unless specified conditions are not met. The conditions include the record not being communicated through an authorized method, the applicable filing fee not being tendered, or the filing office being unable to index the record due to various reasons. The document also specifies rules for records that do not provide required information or fail to indicate their nature. Additionally, it mentions that a record refused by the filing office for reasons other than those specified is still effective as a filed record, except against a purchaser of the collateral who relied on the absence of the record from the files. No specific penalties or exemptions are mentioned in this document.
Whom does it apply to?
Individuals or organizations who need to file records with a filing office
What does it govern?
Filing of records with a filing office under the Uniform Commercial Code
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Iowa