N.Y. Uniform Commercial Code Law § 9-520: Acceptance and Refusal to Accept Record

Section 9--520. Acceptance and Refusal to Accept Record.

(a) Mandatory refusal to accept record. 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) Communication concerning refusal. 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) When filed financing statement effective. A filed financing

statement satisfying Section 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) which

is incorrect at the time the financing statement is filed.