KRS 355.9-516: What constitutes filing -- Effectiveness of filing.

(1) Except as otherwise provided in subsection (2) of this section, communication of a

record to a filing office and tender of the filing fee or acceptance of the record by

the filing office constitutes filing.

(2) Filing does not occur with respect to a recor d that a filing office refuses to accept

because:

(a) The record is not communicated by a method or medium of communication

authorized by the filing office;

(b) An amount equal to or greater than the applicable filing fee is not tendered;

(c) The filing office is unable to index the record because:

1. In the case of an initial financing statement, the record does not provide

a name for the debtor;

2. In the case of an amendment or information statement, the record:

a. Does not identify the initial financing statement as required by

KRS 355.9-512 or 355.9-518, as applicable; or

b. Identifies an initial financing statement whose effectiveness has

lapsed under KRS 355.9-515;

3. In the case of an initial financing statement that provides the name of a

debtor identified as an individual or an amendment that provides a name

of a debtor identified as an individual which was not previously

provided in the financing statement to which the record relates, the

record does not identify the debtor's surname; or

4. In the case of a record filed in the filing office described in KRS 355.9 -

501(1)(a), the record does not provide a sufficient description of the real

property to which it relates;

(d) In the case of an initial financing statement or an amendment that adds a

secured party of record, the record does not provide a name and mailing

address for the secured party of record;

(e) In the case of an initial financing statement or an amendment that provides a

name of a debtor which was not previously provided in the financing

statement to which the amendment relates, the record does not:

1. Provide a mailing address for the debtor; or

2. Indicate whether the debtor is an individual or an organization;

(f) In the case of an assignment reflected in an initial financing statement under

KRS 355.9-514(1) or an amendment filed under KRS 355.9-514(2), the record

does not provide a name and mailing address for the assignee; or

(g) In the case of a continuation statement, the record is not filed within the six

(6) month period prescribed by KRS 355.9-515(4).

(3) For purposes of subsection (2) of this section:

(a) A record does not provide information if the filing office is unable to read or

decipher the information; and

(b) A record that does not indicate that it is an amendment or identify an initial

financing statement to which it relates, as required by KRS 355.9 -512, 355.9-

514, or 355.9-518, is an initial financing statement.

(4) A record that is communicated to the fi ling office with tender of the filing fee, but

which the filing office refuses to accept for a reason other than one set forth in

subsection (2) of this section, is effective as a filed record except as against a

purchaser of the collateral which gives val ue in reasonable reliance upon the

absence of the record from the files.