Current through Register Vol. 47, No. 25, June 23, 2023
a) Errors of the filing office. The filing
officer may correct the errors of filing office personnel in the UCC information management system at any
time. If the correction occurs after the filing officer has issued a certification date, the filing officer
shall file a filing officer correction statement in the UCC information management system identifying the
record to which it relates and the date of the correction and explaining the nature of the corrective action
taken. The record shall be preserved as long as the record of the initial financing statement is preserved in
the UCC information management system.
1) In the case of a data entry error
that caused the record in the UCC information management system to be different from the originally submitted
document, the record indexed in the management system will be corrected to correspond with the originally
submitted record.
2) In the case of an error on the part of the
filer that is noticed after a certification date has been issued, the filing office is under no obligation to
make the corrections. It is the responsibility of the filer to correct any errors pursuant to Sections 9-511,
9-512 and 9-518 of the UCC [810 ILCS 5/9-511, 9 -512 and 9-518].
b) Data entry of names - designated fields. A filing should designate
whether a name is a 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 are entered into the UCC information management system exactly as set forth in the
UCC record, even if it appears that multiple names are set forth in the record, or if it appears that the
name of an individual has been included in the field designated for an organization name.
2) Individual names. On a form that designates separate fields for the
individual's surname, first personal name, and additional names/initials, the filing officer enters the names
into the respective fields in the UCC information management system exactly as set forth on the
form.
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 failure to transmit names accurately to the filing office may cause filings
to be ineffective.
c) 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.
Amended at 31 Ill. Reg. 8559, effective June 15, 2007
Amended at
38
Ill. Reg. 15638, effective 7/1/2014
