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Can you summarize MNST 336.9-520?
UNIFORM COMMERCIAL CODE > ACCEPTANCE AND REFUSAL TO ACCEPT RECORD.
Short Summary
This legal document governs the acceptance and refusal to accept records for filing by filing offices. It specifies that a filing office shall refuse to accept a record for filing if it falls under the reasons set forth in section 336.9-516 (b). The filing office may communicate the refusal to the person presenting the record, providing the reason for refusal and the hypothetical filing date and time. A filed financing statement satisfying section 336.9-502 (a) and (b) remains effective, even if the filing office is required to refuse it for filing. However, if the financing statement provides incorrect information described in section 336.9-516 (b)(5) at the time of filing, section 336.9-338 applies. This document also clarifies that if a record relates to multiple debtors, the provisions apply separately to each debtor. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Filing offices and persons presenting records for filing
What does it govern?
Acceptance and refusal to accept record
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota