Minnesota Administrative Rules

8280.0010 PURPOSE.

Subpart 1.

Title.

This chapter may be referred to as the Revised Article 9 (Year 2000 revision) Rules.

Subp. 2.

Characterization of duties of filing officer.

The duties and responsibilities of the filing officer with respect to the administration of the Uniform Commercial Code are ministerial. In accepting for filing or refusing to file a financing statement pursuant to this chapter, the filing officer does not:

A.

determine the legal sufficiency or insufficiency of a document;

B.

determine that a security interest in collateral exists or does not exist;

C.

determine that information in the document is correct or incorrect, in whole or in part; or

D.

create a presumption that information in the document is correct or incorrect, in whole or in part.

Subp. 3.

Effective date; application.

This chapter is effective with respect to financing statements filed on or after July 1, 2001, and to predecessor filings in effect immediately before that date.

Statutory Authority:

L 2000 c 399 art 1 s 139

History:

26 SR 5

Published Electronically:

November 14, 2003