                                 CODE OF VIRGINIA

ACCEPTANCE AND REFUSAL TO ACCEPT RECORD (§ 8.9A-520)

a. Mandatory refusal to accept record. A filing office shall refuse to accept a
record for filing for a reason set forth in &#xA7; 8.9A-516 (b) and may refuse
to accept a record for filing only for a reason set forth in &#xA7; 8.9A-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 &#xA7; 8.9A-501 (a) (2), in no event more
than five business days after the filing office receives the record.

c. When filed financing statement effective. A filed financing statement
satisfying &#xA7; 8.9A-502 (a) and (b) is effective, even if the filing office
is required to refuse to accept it for filing under subsection (a). However,
&#xA7; 8.9A-338 applies to a filed financing statement providing information
described in &#xA7; 8.9A-516 (b) (5) which is incorrect at the time the
financing statement is filed.

d. Separate application to multiple debtors. If a record communicated to a
filing office provides information that relates to more than one debtor, this
part applies as to each debtor separately.

HISTORY: 2000, c. 1007.