The following grounds are the sole grounds for the filing officer's
refusal to accept a transition property notice 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.
(1) Grantor or Assignor Name and Address. An initial
transition property notice or an amendment that purports to add a
grantor or assignor under §96.42 of this title shall be refused
if the document fails to include a legible grantor or assignor name
and address for a grantor, in the case of an initial transition property
notice, or for a grantor or assignor purporting to be added in the
case of such an amendment. If the document contains more than one
grantor or assignor 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 submitter containing
the file number of the document, identification of the grantor or
assignor name(s) that was (were) indexed, and a statement that grantors
or assignors with illegible or missing names or addresses were not
indexed.
(2) Financing Party or Assignee Name and Address. An
initial transition property notice, an amendment purporting to add
a financing party or assignee of record, or an assignment, that is
required to name a financing party or assignee of record under §96.42
of this title shall be refused if the document fails to include a
legible financing party or assignee of record name and address if
the document contains more than one financing party or assignee name
or address and some names or addresses are missing or illegible, the
filing officer shall refuse the transition property notice document.
(3) Lack of Identification of Initial Transition Property
Notice Filing. A transition property notice other than an initial
transition property notice shall be refused if the document does not
provide a file number of a transition property notice in the UCC information
management system that has not lapsed.
(4) Other Required Information. A transition property
notice that does not identify itself as an original transition property
notice or another type of transition property notice shall be refused.
(5) Fee. A document shall be refused if the document
is accompanied by less than the full filing fee tendered by a method
described in §96.6 of this title.
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