Ask Reggi Your Question Now
Can you summarize IACO 554.9518?
UNIFORM COMMERCIAL CODE > Claim concerning inaccurate or wrongfully filed record.
Short Summary
This legal document pertains to the Iowa Code, specifically the Uniform Commercial Code. It outlines the process for filing an information statement in the filing office when a person believes that a record indexed under their name is inaccurate or wrongfully filed. The information statement must identify the record, indicate that it is an information statement, and provide the basis for the person’s belief regarding the inaccuracy or wrongful filing. Additionally, a secured party of record can file an information statement if they believe that the person who filed the record was not entitled to do so. The information statement in this case must also identify the record and provide the basis for the belief. It is important to note that the filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record. This document does not mention any specific exemptions or penalties.
Whom does it apply to?
Any person who believes that a record indexed under their name is inaccurate or wrongfully filed, or any secured party of record with respect to a financing statement
What does it govern?
Uniform Commercial Code
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Iowa