N.M. Code R. § 12.6.2.28 - GROUNDS FOR REFUSAL OF UCC DOCUMENT
The following grounds are the sole grounds for the filing officer's refusal to accept a UCC document for filing. As used herein, the term "legible" 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.
A. Debtor name and address. An initial
financing statement or an amendment that purports to add a debtor shall be
refused if the document fails to include a legible debtor name and address for
a debtor, in the case of an initial financing statement, or for the debtor
purporting to be added in the case of such an amendment. If the document
contains more than one debtor name or address and some names or addresses are
missing or illegible, the filing officer shall index the legible name and
address pairings, and provide a notice to the remitter containing the file
number of the document, identification of the debtor name(s) that was (were)
indexed, and a statement that debtors with illegible or missing names or
addresses were not indexed.
B.
Additional debtor identification. An initial financing statement or an
amendment adding one or more debtors shall be refused if the document fails to
identify whether each named debtor (or each added debtor in the case of such an
amendment) is an individual or an organization, if the last name of each
individual debtor is not identified, or if, for each debtor identified as an
organization.
C. Secured party name
and address. An initial financing statement, an amendment purporting to add a
secured party of record, or an assignment, shall be refused if the document
fails to include a legible secured party (or assignee in the case of an
assignment) name and address. If the document contains more than one secured
party (or assignee) name or address and some names or addresses are missing or
illegible, the filing officer shall refuse the UCC document.
D. Lack of identification of initial
financing statement. A UCC document other than an initial financing statement
shall be refused if the document does not provide a file number of a financing
statement in the UCC information management system that has not
lapsed.
E. Identifying information.
A UCC document that does not identify itself as an amendment or identify an
initial financing statement to which it relates, as required by Chapter 55,
Article 9, Sections 512, 513, 514 or 518 NMSA 1978, is an initial financing
statement.
F. Timeliness of
continuation. A continuation shall be refused if it is not received during the
six month period concluding on the day upon which the related financing
statement would lapse. In the event that the day upon which the related
financing statement would lapse falls on a day on which the filing office is
not open, the last day is then the first business day immediately preceding the
day that the office is closed. A postmark stamped on an envelope by the U.S.
postal service does not cause timely filing of the continuation if the
continuation is received by the filing office after the last day upon which the
related financing statement would lapse.
(1)
First day permitted. The first day on which a continuation may be filed is the
date of the month corresponding to the date upon which the financing statement
would lapse, six months preceding the month in which the financing statement
would lapse. If there is no such corresponding date during the sixth month
preceding the month in which the financing statement would lapse, the first day
on which a continuation may be filed is the last day of the sixth month
preceding the month in which the financing statement would lapse, although
filing by certain means may not be possible on such date if the filing office
is not open on such date.
(2) Last
day permitted. The last day on which a continuation may be filed is the date
upon which the financing statement lapses.
G. Fee. A document shall be refused if the
document is accompanied by less than the full filing fee tendered by a method
described in 12.6.2.19 NMAC. In the event that more than one filing is
submitted with one payment for all filings and one or more filings are refused
pursuant to this rule, the filing office will file the accepted filings and
receipt the payment received (if the payment is not less than the full filing
fee for the total of the accepted filings) for the filings which were
acceptable without a refund or credit for the payment due for the unaccepted
filing(s) unless the filer demonstrates that the rejected filings should not
have been refused under this rule. Otherwise, the filer must correct and
resubmit the rejected filing(s) with a new payment.
H. Means of communication. UCC documents
communicated to the filing office by a means of communication not authorized by
the filing officer for the communication of UCC documents shall be
refused.
I. Non-UCC filings not
accepted. Filings (such as those pursuant to the Farm Products Secured Interest
Act or federal tax liens) which are not included in Chapter 55, Article 9 NMSA
1978 (Chapter 139, Laws of 2001) but submitted on forms prescribed in 12.6.2.14
NMAC will be refused and returned without processing.
J. Transmitting utility debtors. For records
that contain a debtor identified as a transmitting utility, the filing officer
may require proof of the debtor's authority to operate as a transmitting
utility.
Notes
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