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Texas Business & Commerce Code - Section 9.520. Acceptance And Refusal To Accept Record

Legal Research Home > Texas Laws > Business & Commerce Code > Texas Business & Commerce Code - Section 9.520. Acceptance And Refusal To Accept Record

§ 9.520. ACCEPTANCE AND REFUSAL TO ACCEPT RECORD.  (a) A 
filing office shall refuse to accept a record for filing for a 
reason set forth in Section 9.516(b) and may refuse to accept a 
record for filing only for a reason set forth in Section 9.516(b).
	(b)  If a filing office refuses to accept a record for 
filing, it shall communicate to the person that presented the 
record the fact of and reason for the refusal and the date and time 
the record would have been filed had the filing office accepted it.  
The communication must be made at the time and in the manner 
prescribed by filing-office rule, but in the case of a filing office 
described in Section 9.501(a)(2), in no event more than two 
business days after the filing office receives the record.
	(c)  A filed financing statement satisfying Sections 
9.502(a) and (b) is effective, even if the filing office is required 
to refuse to accept it for filing under Subsection (a).  However, 
Section 9.338 applies to a filed financing statement providing 
information described in Section 9.516(b)(5) that is incorrect at 
the time the financing statement is filed.
	(d)  If a record communicated to a filing office provides 
information that relates to more than one debtor, this subchapter 
applies as to each debtor separately.

Added by Acts 1999, 76th Leg., ch. 414, § 1.01, eff. July 1, 
2001.       

Last modified: August 11, 2007