Section 440.203. Grounds not warranting refusal.

(1) The sole grounds for the filing officer's refusal to accept a financing statement for filing are enumerated in R 440.202.

(2)    The following are examples of defects that do not constitute grounds for refusal to accept a document:

(a)   The financing statement contains or appears to contain a misspelling or other apparently erroneous information.

(b)   The financing statement appears to identify a debtor incorrectly.

(c)   The financing statement appears to identify a secured party  or  a secured party of record incorrectly.

(d)   The financing statement contains additional or extraneous information of any kind.

(e)   The financing statement contains less than the  information   required by article 9 of the UCC, provided that the document contains the information required in R 440.202.

(f)   The financing statement incorrectly identifies collateral, or contains an illegible or unintelligible description of collateral, or does not appear to contain a description of collateral.

(g)   The document is accompanied by funds in excess of the full filing fee.

(3)        The examples enumerated in subrule (2) of this rule are not a comprehensive enumeration of defects outside the scope of permitted grounds for refusal to accept a financing statement for filing.

History: 2002 MR 21, Eff. Nov. 20, 2002.