S.D. Admin. R. 5:04:04:09

Current through Register Vol. 51, page 51, October 21, 2024

Section 5:04:04:09 - Acceptance and refusal of records - Role of filing officer

The duties and responsibilities of the filing officer with respect to the administration of the UCC are ministerial. When filing or refusing to file a UCC record pursuant to this chapter, the filing officer does not:

(1) Determine the legal sufficiency or insufficiency of a record;

(2) Determine that a security interest in collateral exists or does not exist;

(3) Determine that information in the record is correct or incorrect, in whole or in part; and

(4) Create a presumption that information in the record is correct or incorrect, in whole or in part.

S.D. Admin. R. 5:04:04:09

28 SDR 23, effective 7/18/2001.

General Authority: SDCL 57A-9-526.

Law Implemented: SDCL 57A-9-525.2.