Current through Register Vol. 48, No. 12, March 22, 2024
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.