Minnesota Administrative Rules

8280.0015 DEFINITIONS.

Subpart 1.

Scope.

The terms used in this chapter have the meanings given them in this part.

Subp. 2.

Amendment.

"Amendment" has the meaning given it in Minnesota Statutes, sections 336.9-512 and 336.9-521.

Subp. 3.

Business day.

"Business day" means the 24-hour period from the hour and minute of the event described in the section in which the phrase business day is used to the same hour and minute on the next day on which business is conducted in the office in which the event is occurring. This definition is used in measuring whether certain timelines under Minnesota Statutes, sections 336.9-501 to 336.9-530, and this chapter have been met and does not refer to the hours of operation.

Subp. 4.

Correction statement.

"Correction statement" means a record that indicates under Minnesota Statutes, section 336.9-518, that a financing statement is inaccurate or wrongfully filed.

Subp. 5.

Data.

"Data" means the information contained in a financing statement or supplemental information added by the filing office in association with a financing statement.

Subp. 6.

Day.

"Day" has the same meaning as "business day."

Subp. 7.

Electronic transmission.

"Electronic transmission" means any method accepted by the secretary of state for the transmission by electronic format of financing statements, requests for information ("searches"), or associated information.

Subp. 8.

File number.

"File number" means, for a financing statement with an initial financing statement filed on or after July 1, 2001, or which has been converted to digital format on or before that date, a number that includes the year of filing expressed as the first four digits of a unique number assigned to the financing statement by the filing office and a one-digit verification number, to be referred to as a check digit, assigned by the filing office but algorithmically derived from other numbers in the file number. The filing number bears no relation to the time of filing and is not an indicator of priority.

Subp. 9.

Filer.

"Filer" means a person providing information used in a Uniform Commercial Code record or information request.

Subp. 10.

Filing office or filing officer.

"Filing office" or "filing officer" means the office of the secretary of state, except as provided in Minnesota Statutes, section 336.9-501, subsection (a)(1). Satellite offices are agents of the secretary of state, and all rules applicable to the secretary of state apply to satellite offices, except for part 8280.0480 and those portions of other rules in this chapter relating to the form of submission of fees.

Subp. 11.

Financing statement.

"Financing statement" has the meaning in Minnesota Statutes, section 336.9-102, subsection (a)(39). Financing statement shall not be deemed to refer exclusively to paper or paper-based writings. Financing statements may be expressed or transmitted electronically or through media other than paper writings.

Subp. 12.

Global filing.

"Global filing" means a financing statement filed by a secured party for the purpose of amending more than one financing statement, for one or both of the following purposes:

A.

an amendment to change secured party name; or

B.

an amendment to change secured party address.

Subp. 13.

Image.

"Image" means the image of a financing statement as stored in the Uniform Commercial Code information management system.

Subp. 14.

Individual.

"Individual" means a human being, or a decedent in the case of a debtor that is the decedent's estate.

Subp. 15.

Initial financing statement.

"Initial financing statement" means a financing statement containing the information required by Minnesota Statutes, section 336.9-502, which, when filed, creates the initial record in the Uniform Commercial Code information management system. A statement filed pursuant to Minnesota Statutes, section 336.9-706, is an initial financing statement and may be filed at any time.

Subp. 16.

Lapse date.

"Lapse date" means the same date of the same month in the fifth year after filing, or in the relevant subsequent fifth anniversary if a timely continuation statement is filed under part 8280.0080, subpart 1, item E, as the original filing date. If the initial financing statement indicates that it is filed with respect to a public finance transaction or a manufactured home transaction, the lapse date is the same date of the same month in the 30th year after filing as the original filing date. The lapse takes effect at midnight at the end of the lapse date. The relevant anniversary for a February 29 filing date is March 1 in the fifth year following the year of the filing date. A lapse date is calculated for each initial financing statement unless the debtor is indicated to be a transmitting utility.

Subp. 17.

Legible.

"Legible" means a communication which may be understood. It is not limited to refer only to written expressions on paper: it requires a machine-readable transmission for electronic transmissions and an otherwise readily decipherable transmission in other cases.

Subp. 18.

Online access.

"Online access" means access to the Uniform Commercial Code information management system and those programs associated with the viewing, searching, and remote filing functions of the Uniform Commercial Code information management system by a remote data connection.

Subp. 19.

Organic document.

"Organic document" means the document establishing a trust.

Subp. 20.

Organizational number.

"Organizational number" means the identifying number issued to an entity upon the formation of that entity by the filing office in the jurisdiction of formation.

Subp. 21.

Secured party of record.

"Secured party of record" has the meaning given it in Minnesota Statutes, section 336.9-511, subsection (a).

Subp. 22.

Submitter.

"Submitter" means a person who presents or causes the presentation of a financing statement or information request to the filing officer for filing or response, and includes a service provider who acts as a filer's representative in the filing or information request process but does not include a person responsible merely for the delivery of the document to the filing office, such as the postal service or a courier service.

Subp. 23.

Through date.

"Through date" means the latest date and time for which all records have been entered into the Uniform Commercial Code information management system.

Subp. 24.

UCC.

"UCC" means the Uniform Commercial Code as enacted in this state and in effect from time to time.

Subp. 25.

UCC information management system.

"UCC information management system" means the integrated data and imaging system maintained by the secretary of state under Minnesota Statutes, section 336.9-529.

Statutory Authority:

L 2000 c 399 art 1 s 139

History:

26 SR 5

Published Electronically:

November 14, 2003