30 KAR 5:050. Filing and data entry procedures.
RELATES TO: KRS 355.9-526
STATUTORY AUTHORITY: KRS 355.9-526(1)
NECESSITY, FUNCTION, AND CONFORMITY: KRS 355.9-526(1) requires the Secretary of State to promulgate administrative regulations implementing Article 9 of KRS Chapter 355. This administrative regulation establishes requirements relating to filing and data entry procedures.
Section 1. Errors of the Filing Officer. (1) The filing office may correct the errors of filing office personnel in the UCC Information Management System at any time.
(2) If the correction occurs after the filing officer has issued a certification date, the filing officer shall file a filing officer statement in the UCC Information Management System identifying the record to which it relates, the date of the correction, and explaining the nature of the corrective action taken. The filing officer statement shall be preserved as long as the record of the initial financing statement is preserved in the UCC Information Management System.
Section 2. Data Entry of Names. A record shall designate whether a name is the name of an individual or an organization. If the name is that of an individual, the first, middle and last names and any suffix shall be given.
(1) Organization names. Organization names shall be entered into the UCC Information Management System exactly as set forth in the UCC record, even if it appears that:
(a) Multiple names are set forth in the record; or
(b) The name of an individual has been included in the field designated for an organization name.
(2) Individual names. The filing officer shall enter the names of individuals into the first, middle, and last name and suffix fields in the UCC Information Management System exactly as set forth on the record.
Section 3. Notice of Bankruptcy. The filing officer shall take no action upon receipt of a notification, formal or informal, of a bankruptcy proceeding involving a debtor named in the UCC Information Management System. (28 Ky.R. 1000; Am. 1348; eff. 12-19-2001.)