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Section 4: Filing and Data Entry Procedures
Section 4 -- Filing and Data Entry Procedures:
400 Policy statement. This section contains rules describing the filing procedures of the filing officer upon and after receipt of a UCC document. It is the policy of the filing officer to promptly file a document that conforms to these rules. Except as provided in these rules, data are transferred from a UCC document to the information management system exactly as the data are set forth in the document. Personnel who create reports in response to search requests type search criteria exactly as set forth on the search request. Under Revised Article Nine, no effort should be made to detect or correct errors of any kind.
401 Document indexing and other procedures before archiving.
401.1 Date and time stamp. The date and time of receipt are stamped on documents received in the office by personal delivery. For all other documents the date and time of receipt are permanently associated with the record maintained for a UCC document in the UCC information management system at the earliest possible time.
401.2 Cash management. Transactions necessary to account for payment of the filing fee are performed.
401.2.1 Cash. Customers that tender cash in person at the filing office will be issued a receipt. Customers are discouraged from sending cash through the mail or express services.
401.2.2 Checks, money orders. Checks received will be accounted for in the UCC information management system using the check or money order number and the name of the individual organization remitting the check.
401.2.3 Prepaid accounts. Funds will be deducted from prepaid accounts when such an account is arranged with the filing office in advance and authorization to deduct from the account is provided as described in rule 113.4.
401.3 Document review. The filing office determines whether grounds exist to refuse the document under rule 202.
401.3.1 File stamp. If there are no grounds for refusal of the document, it is deemed filed and a unique identification number is permanently associated with the record of the document maintained in the UCC information management system. The sequence of the identification number is not an indication of the order in which the document was received.
401.3.2Correspondence. If grounds for refusal of the document exists, notification of refusal to accept the document is prepared as provided in rule 205. If there are no grounds for refusal of the document an acknowledgement of filing is prepared as provided for in rule 206. If the UCC document was tendered in person then notice of refusal or acknowledgement of the filing is given to the remitter by personal delivery. If the UCC document was tendered by Web based filing procedures such notice or acknowledgement is transmitted to the remitter as provided in rule 371. Acknowledgement of filing or notice of refusal of a UCC document tendered by means other than personal delivery or Web based filing procedures is sent to the secured party, or first secured party if there are more than one, named on the UCC document or to the remitter, if the remitter so requests, by regular mail or overnight courier if the remitter provides a prepaid waybill or access to the remitter's account with the courier.
401.4 Data entry. Data entry and indexing functions are performed as described in this section.
401.4.1 Data entry is performed from the original document submitted to the filing office.
401.4.2 Indexing. The UCC information management system indexes the records, along with the scanned image of each original document, for later retrieval.
401.4.3 Scanning. Upon completion of data entry the document is immediately scanned for storage in the UCC information management system.
402 Filing date. The filing date of a UCC document is the date the UCC document is received with the proper filing fee if the filing office is open to the public on that date or, if the filing office is not so open on that date, the filing date is the next date the filing office is so open, except that, in each case, UCC documents received after 5:30 P.M. shall be deemed received on the following day. The filing officer may perform any duty relating to the document on the filing date or on a date after filing date.
403 Filing time. The filing time of a UCC document is determined as provided in rule 106.
404 Lapse date and time. A lapse date is calculated for each initial financing statement (unless the debtor is indicated to be a transmitting utility). The lapse date is the same date of the same month as the filing date in the fifth year after the filing date or relevant subsequent fifth anniversary thereof if timely continuation statement is filed, but if the initial financing statement indicates that it is filed with respect to a public-finance transaction or a manufactured-home transaction, the lapse date is the same date of the same month as the filing date in the thirtieth year after the filing date. The lapse takes effect at midnight at the end of the lapse date. The relevant anniversary for a February 29 filing date shall be the March 1 in the fifth year following the year of the filing date.
405 Errors of the filing officer. The filing office may correct the errors of filing officer personnel in the UCC information management system at any time. If the correction is made after the filing officer has issued a certification date that includes the filing date of a corrected document, the filing officer shall proceed as follows. A record relating to the relevant initial financing statement will be placed in the UCC information management system stating the date of the correction and explaining the nature of the corrective action taken. The record shall be preserved for so long as the record of the initial financing statement is preserved in the UCC information management system.
406 Errors other than filing office errors. An error by a filer is the responsibility of such filer. It can be corrected by filing an amendment or it can be disclosed by a correction statement.
407 Data entry of names - designated fields. A filing should designate whether a name is a name of an individual or an organization and, if an individual, also designates the first, middle and last names and any suffix. When this is done, the following rules shall apply.
407.1 Organization names. Organization names are entered into the UCC information management system exactly as set forth in the UCC document, even if it appears that multiple names are set forth in the document or if it appears that the name of an individual has been included in the field designated for an organization name.
407.2 Individual names. On a form that designates separate fields for first, middle, and last names and any suffix, the filing officer enters the names into the first, middle, and last name and suffix fields in the UCC information management system exactly as set forth on the form.
407.3 Designated fields encouraged. The filing office encourages the use of forms that designate separate fields for individual and organization names and separate fields for first, middle, and last names and any suffix. Such forms diminish the possibility of filing office error and help assure that filers' expectations are met. However, filers should be aware that the inclusion of names in an incorrect field or failures to transmit names accurately to the filing office may cause filings to be ineffective. All documents submitted through direct data entry will be required to use designated name fields.
408 Data entry of names - no designated fields. A UCC document that is an initial financing statement or an amendment that adds a debtor to a financing statement and that fails to specify whether the debtor is an individual or an organization should be refused by the filing office. If it is accepted for filing in error, the following rules shall apply.
408.1 Identification of organizations. When not set forth in a field designated for individual names, a name is treated as an organization name if it contains words or abbreviations that indicate status such as the following and similar words or abbreviations in foreign languages: association, church, college, company, co., corp., corporation, inc., limited, ltd., club, foundation, fund, L.L.C., limited liability company, institute, society, union, syndicate, GmBH, S.A. de C.V., limited partnership, L.P., limited liability partnership, L.L.P., trust, business trust, co-op, cooperative and other designations established by statutes to indicate a statutory organization. In cases where organization or individual status is not designated by the filer and is not clear, the filing officer will use their own judgment.
408.2 Identification of individuals. A name is entered as the name of an individual and not the name of an organization when the name is followed by a title substantially similar to one of the following titles, or the equivalent of one of the following titles in a foreign language: proprietor, sole proprietor, proprietorship, sole proprietorship, partner, general partner, president, vice president, secretary, treasurer, M.D., O.D., D.D.S., attorney at law, Esq., accountant, CPA. In such cases, the title is not entered.
408.3 Individual and organization names on a single line. Where it is apparent that the name of an individual and the name of an entity are stated on a single line and not in a designated individual name field, the name of the individual and the name of the entity shall be entered as two separate debtors, one as an individual and one as an entity. Additional filing fees for the additional debtor name(s) may be required.
408.4 Individual names. The failure to designate the last name of an individual debtor in an initial financing statement or an amendment adding such debtor to a financing statement should cause a filing to be refused. If the filing is accepted in error, or if only the last name is designated, the following data entry rules apply.
408.4.1 Freestanding initials. An initial in the first position of the name is treated as a first name. An initial in the second position of the name is treated as a middle name.
408.4.2 Combined initials and names. An initial and a name to which the initial apparently corresponds is entered into one name field only [e.g. "D. (David)" in the name "John D. (David) Rockefeller" is entered as "John" (first name); "D. (David)" (middle name); "Rockefeller" (last name)].
408.4.3 Multiple individual names on a single line. Two individual names contained in a single line are entered as two, different debtors [e.g. the debtor name "John and Mary Smith" is entered as two debtors: "John Smith", and "Mary Smith"].
408.4.4 One word names. A one word name is entered as a last name [e.g. "Cher" is treated as a last name].
408.4.5 Nicknames. A nickname is entered in the name field together with the name preceding the nickname, or if none, then as the first name (e.g., "William (Bill) Jones").
409 Verification of data entry. Debtor names are verified using double-blind key verification by an individual other than the individual which first performed data entry. Debtor addresses and secured party names and addresses are verified using visual inspection by an individual other than the individual which first performed data entry.
409.1 Double key entry is employed for data entered in the following fields.
409.1.1 Debtor name fields.
409.2 Visual inspection of data entry changes is employed for data in the following fields.
409.2.1 Debtor address fields.
409.2.2 Secured party name fields.
409.2.3 Secured party address fields.
410 Initial financing statement. A new record is opened in the UCC information management system for each initial financing statement that bears the file number of the financing statement and the date and time of filing.
410.1 The name and address of each debtor that are legibly set forth in the financing statement are entered into the record of the financing statement. Each such debtor name is included in the searchable index and is not removed until one year after the financing statement lapses. Debtor addresses might not be included in the searchable index except to the extent the filing office offers or intends to offer limited searches or limited copy requests as provided in rule 502.
410.2 The name and address of each secured party that are legibly set forth in the financing statement are entered into the record of the financing statement.
410.3 The record is indexed according to the name of the debtor(s) and is maintained for public inspection.
410.4 A lapse date is established for the financing statement, unless the initial financing statement indicates it is filed against a transmitting utility, and the lapse date is maintained as part of the record.
411 Amendment. A record is created for the amendment that bears the file number for the amendment and the date and time of filing.
411.1 Record. The record of the amendment is associated with the record of the related initial financing statement in a manner that causes the amendment to be retrievable each time a record of the financing statement is retrieved.
411.2 Indexing. The name and address of each additional debtor and secured parties are entered into the UCC information management system in the record of the financing statement. Each such additional debtor name is added to the searchable index and are not removed until one year after the financing statement lapses. Debtor addresses might not be included in the searchable index except to the extent the filing office offers or intends to offer limited searches or limited copy requests as provided in rule 502.
411.3 Lapse date. If the amendment is a continuation, a new lapse date is established for the financing statement and maintained as part of its record.
412 Correction statement. A record is created for the correction statement that bears the file number for the correction statement and the date and time of filing. The record of the correction statement is associated with the record of the related initial financing statement in a manner that causes the correction statement to be retrievable each time a record of the financing statement is retrieved.
413 Global filings.
413.1 Acceptance. The filing officer may accept for filing a single UCC document for the purpose of amending more than one financing statement, for one or both of the following purposes: amendment to change secured party name; amendment to change secured party address.
413.2 Requirements. A blanket filing shall consist of a written document describing the requested amendment on a form approved by the filing office, and a machine readable file furnished by the remitter and created to the filing officer's specifications containing appropriate indexing information. A copy of blanket filing specifications is available from the filing officer upon request. Acceptance of a blanket filing is conditioned upon the determination of the filing officer in the filing officer's sole discretion.
414 Archives - general.
414.1 Paper UCC documents.
414.1.1 Storage. Paper UCC documents will be stored in the order of the date they were received.
414.1.2 Retention. Paper UCC documents will be maintained until such time as the electronic image of the document is stored in an archival quality medium.
414.2.1 Storage. Paper documents will be scanned and stored as electronic TIFF (Tag Image File Format) images.
414.2.2 Retention. Electronic images of paper documents will be stored in the UCC information management system with the related indexing records for the time specified in rule 415.
414.3 Databases. Index and electronic image information in the UCC information management system will be backed up to tape for recovery puposes.
415 Archives - data retention. Data in the UCC information system relating to financing statements that have lapsed are retained for a minimum of five years from the date of lapse.
416 Archival Searches - Searches of documents maintained more than one year beyond the lapse date can be made by requesting a special search through the state's preferred vendor, accessIndiana at www.IN.gov.
417 Notice of bankruptcy. The filing officer takes no action upon receipt of a notification, formal or informal, of a bankruptcy proceeding involving a debtor named in the UCC information management system. Accordingly, financing statements will lapse as scheduled unless properly continued.
Numbers 418 through 499 are reserved.