Nac: Chapter 104 - Uniform Commercial Code

Link to law: http://www.leg.state.nv.us/nac/NAC-104.html
Published: 2015

[Rev. 11/21/2013 3:49:16

PM--2013]



[NAC-104 Revised Date: 11-13]

CHAPTER 104 - UNIFORM COMMERCIAL CODE

FILING OF UNIFORM COMMERCIAL CODE DOCUMENT

General Provisions

104.100            Definitions.

104.105            “Amendment” defined.

104.110            “Assignment” defined.

104.120            “Filing officer” defined.

104.125            “Individual” defined.

104.127            “Information statement” defined.

104.130            “Initial financing statement”

defined.

104.135            “Organization” defined.

104.140            “Remitter” defined.

104.145            “UCC” defined.

104.150            “UCC document” defined.

104.155            Duties of filing officer

ministerial.

Requirements

104.170            Means of delivery of document to be

filed.

104.175            Methods of payment of fees.

104.180            Acceptable form of document.

Acceptance

104.200            Refusal to accept document for

filing: Grounds.

104.205            Refusal to accept document for

filing: Document and fee returned.

104.210            Filer responsible for legal

effectiveness of filing.

104.215            Filing document found satisfactory

after originally refused for filing.

Financing Statements

104.225            Secured party of record; status of

debtor; status of financing statement; lapse date.

104.230            Action on lapse date.

104.235            Continuation: Date for filing.

104.240            Continuation: Amount of extension;

effect on status.

104.243            Addendum form or additional party

form must be used to add additional debtors or additional secured parties.

104.245            Effect of amendment to financing

statement.

104.250            Effect of assignment.

104.255            Effect of filing termination of

financing statement.

104.260            Effect of filing information

statement.

Information Management System

104.300            Information included.

104.305            Storage of names of individuals.

104.310            Inclusion of prefix, suffix or

title with name of filer.

104.313            Acceptable characters.

104.314            Acceptable punctuation marks.

104.315            Use of name of trust or settlor.

104.320            Designation of name as individual

or organization.

104.325            Names entered as set forth in UCC

document.

104.330            Correction of error by filing

officer.

104.335            Notification of bankruptcy

proceeding.

Search Request

104.350            Searchable index.

104.355            Delivery of request.

104.360            Contents of request.

104.365            Limited search.

104.370            Use of standardized search logic

and applicable rules.

104.375            Reports resulting from search.

 

 

 

FILING OF UNIFORM COMMERCIAL CODE DOCUMENT

General Provisions

      NAC 104.100  Definitions. (NRS 104.9526)  As used

in this chapter, unless the context otherwise requires, the words and terms

defined in NAC 104.105 to 104.150,

inclusive, have the meanings ascribed to them in those sections.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001;

A by R072-11, 5-30-2012)

      NAC 104.105  “Amendment” defined. (NRS

104.9526)  “Amendment”

means a UCC document that purports to amend the information contained in a

financing statement. The term includes, without limitation, an assignment, a

continuation and a termination.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.110  “Assignment” defined. (NRS 104.9526)  “Assignment”

means an amendment that purports to assign all or part of the power of a

secured party to authorize an amendment to a financing statement.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.120  “Filing officer” defined. (NRS 104.9526)  “Filing

officer” means the Secretary of State.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.125  “Individual” defined. (NRS 104.9526)  “Individual”

means a natural person, or the decedent if the debtor is the estate of the

decedent.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.127  “Information statement” defined. (NRS 104.9526)  “Information

statement” means a UCC document that purports to indicate that a financing

statement is inaccurate or wrongfully filed.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2011;

A by R072-11, 5-30-2012, eff. 7-1-2013)—(Substituted in revision for NAC

104.115)

      NAC 104.130  “Initial financing statement” defined. (NRS 104.9526)  “Initial

financing statement” means a UCC document which contains the information

required to be included in an initial financing statement and which causes the

filing officer to establish the initial record of the existence of a financing

statement.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.135  “Organization” defined. (NRS 104.9526)  “Organization”

means a person other than an individual.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.140  “Remitter” defined. (NRS 104.9526)

     1.  “Remitter” means a person who tenders a

UCC document to the filing officer for filing, whether the person is a filer or

an agent or representative of a filer who is responsible for tendering the

document for filing.

     2.  The term does not include a person

responsible merely for the delivery of a UCC document to the filing officer,

including, without limitation, the United States Postal Service or a courier

service.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.145  “UCC” defined. (NRS 104.9526)  “UCC”

means the Uniform Commercial Code as adopted in this State.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.150  “UCC document” defined. (NRS 104.9526)  “UCC

document” means an initial financing statement, an amendment, an assignment, a

continuation statement, a termination statement, an information statement or an

information request. The term is not limited to a written document, but

includes a document transmitted electronically or through any other medium

authorized by the filing officer.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001;

A by R072-11, 5-30-2012; R072-11, 5-30-2012, eff. 7-1-2013)

      NAC 104.155  Duties of filing officer ministerial. (NRS 104.9526)  The

duties and responsibilities of the filing officer with respect to the

administration of the UCC are ministerial. The acceptance for filing of, or the

refusal to file, a UCC document pursuant to NAC 104.100

to 104.375, inclusive, does not:

     1.  Constitute a determination concerning the

legal sufficiency or insufficiency of the UCC document;

     2.  Constitute a determination that a

security interest in collateral exists or does not exist;

     3.  Constitute a determination that

information in the UCC document is correct or incorrect, in whole or in part;

or

     4.  Create a presumption that information in

the UCC document is correct or incorrect, in whole or in part.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

Requirements

      NAC 104.170  Means of delivery of document to be filed. (NRS 104.9526)

     1.  A UCC document may be tendered for filing

with the filing officer by:

     (a) Delivery in person at the street address of the

filing officer. The time of filing of a UCC document delivered by this method

is the time at which delivery of the UCC document is accepted by the filing

officer.

     (b) Delivery by a courier at the street address of

the filing officer. The time of filing of a UCC document delivered by this

method is the earlier of the time the UCC document is first examined by the

filing officer for processing or the close of business on the next business day

following the time of delivery, regardless of whether the filing office is open

for business at the time of delivery.

     (c) Delivery by the United States Postal Service at

the mailing address of the filing officer. The time of filing of a UCC document

delivered by this method is the close of business on the next business day

following the time of delivery, regardless of whether the filing office is open

for business at the time of delivery.

     (d) Delivery by electronic or telephonic

transmission to a facsimile machine of the filing officer at the telephone

number for the facsimile machine. The time of filing of a UCC document delivered

by this method is the earlier of the time the UCC document is first examined by

the filing officer for processing or the close of business on the next business

day following the time of delivery, regardless of whether the filing office is

open for business at the time of delivery.

     (e) Delivery by electronic transmission through the

website of the Secretary of State. The time of filing of a UCC document

delivered by this method is the actual time of acceptance of the UCC document

by the website, regardless of whether the filing office is open for business at

the time of delivery.

     2.  A UCC document may be transmitted

electronically using any technologies and protocols authorized by the filing

officer.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

REVISER’S NOTE.

      The regulation of the Secretary of State filed on

October 30, 2001, the source of this section, became effective on that date and

contains the following provisions not included in NAC:

      “Sec. 43.  Notwithstanding the

provisions of paragraph (e) of subsection 1 of section 13 of this regulation [NAC 104.170], the time of filing of a UCC document

delivered by electronic transmission through the website of the Secretary of

State pursuant to paragraph (e) of subsection 1 of section 13 of this

regulation before the website is enabled to accept such filings without

examination by a filing officer is the earlier of the time the UCC document is

first examined by the filing officer for processing or the close of business on

the next business day following the time of delivery, regardless of whether the

filing office is open for business at the time of delivery.”

 

      NAC 104.175  Methods of payment of fees. (NRS 104.9526)  Filing

fees and other fees for services concerning public records may be paid by any

of the following methods:

     1.  Cash payments made in legal tender of the

United States may be made in person to the cashier at the filing office.

     2.  A check payable in legal tender of the

United States, including a check in an amount to be filled in by the filing

officer but not to exceed a specified amount, will be accepted for payment by

the filing officer if the check is drawn on a bank acceptable to the filing

officer or if the drawer is acceptable to the filing officer. If a check

accepted by the filing officer as payment for a filing is returned for

insufficient funds, the filing officer will so indicate on the filing and the

filing shall be deemed void.

     3.  The filing officer will accept payment

via an electronic funds transfer in accordance with the rules of the National

Automated Clearing House Association from a remitter who has entered into an

appropriate arrangement for such a transfer that has been approved by the

National Automated Clearing House Association and who authorizes the relevant

transfer pursuant to that arrangement and those rules.

     4.  A remitter may open a trust account for

the prepayment of filing fees by submitting an application furnished by the

filing officer. Filing fees may be prepaid in amounts of not less than $100.

The filing officer will issue an account number to be used by a remitter who

wishes to pay filing fees in advance. The filing officer will deduct filing

fees from the remitter’s trust account when authorized to do so by the

remitter. The remitter must provide to the filing officer written authorization

to use the trust account to pay filing fees.

     5.  The filing officer will accept payment

from a remitter using a credit or debit card issued by a card issuer approved

by the filing officer. The remitter must provide the filing officer with the

card number, the expiration date of the card, the name of the approved card

issuer, the name of the individual to whom or the organization to which the

card was issued and the billing address for the card. Such a payment is not

tendered until the card issuer or its agent has confirmed to the filing officer

that payment will be forthcoming.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.180  Acceptable form of document. (NRS 104.9526)

     1.  The filing officer will only accept a UCC

document for filing that is on a form prescribed by the filing officer.

     2.  The inclusion by a filer of names in an

incorrect data-entry field on a form or the failure of a filer to transmit

names accurately to the filing officer may cause the filing to be ineffective.

     3.  All documents submitted by a filer

through direct data entry must use the designated name fields.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

Acceptance

      NAC 104.200  Refusal to accept document for filing: Grounds. (NRS 104.9526)

     1.  In addition to the grounds listed in NRS 104.9516 upon which the filing

officer may refuse to accept a record, the filing officer will refuse to accept

a UCC document if:

     (a) The UCC document contains the name or address

of more than one secured party or assignee and any part of the name or address

of a secured party or assignee is missing or illegible;

     (b) An address is not specified in the address

field of the form used for filing the UCC document; or

     (c) The UCC document is an amendment form that

includes more than one filing action.

     2.  As used in this section:

     (a) “Address” means a street address or post office

box, and a city, state and postal code, except that the address for a location

in a foreign country may exclude a state and any other information which is not

of standard use in that foreign country to identify an address.

     (b) “Amendment form” means UCC Financing Statement

Amendment, UCC3.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001;

A by R072-11, 5-30-2012)

      NAC 104.205  Refusal to accept document for filing: Document and fee returned.

(NRS

104.9526)  If

the filing officer finds grounds to refuse to accept a UCC document, the filing

officer will return the UCC document to the remitter and refund the filing fee.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.210  Filer responsible for legal effectiveness of filing. (NRS 104.9526)  If the

filing officer notices a potential defect in a UCC document, whether or not the

document was filed or refused for filing, the filing officer may so inform the

filer or remitter, but has no duty to do so. The responsibility for the legal

effectiveness of a filing rests with the filer and the remitter, and the filing

officer has no responsibility for the legal effectiveness of a filing.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.215  Filing document found satisfactory after originally refused for

filing. (NRS 104.9526)  If a

secured party or a remitter demonstrates to the satisfaction of the filing

officer that a UCC document which was refused for filing should not have been

so refused, the filing officer will:

     1.  File the UCC document as provided in NAC 104.100 to 104.375,

inclusive, with a filing date and time assigned when the filing occurs; and

     2.  File a filing officer statement that

provides the effective date and time of filing, which must be the date and time

the UCC document was originally tendered for filing.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

Financing Statements

      NAC 104.225  Secured party of record; status of debtor; status of financing

statement; lapse date. (NRS 104.9526)

     1.  Upon the filing of an initial financing

statement:

     (a) Each secured party named on the initial

financing statement must be a secured party of record, except that if the

initial financing statement names an assignee, the secured party who is the

assignor must not be a secured party of record and the secured party who is the

assignee must be a secured party of record.

     (b) The status of a debtor named on the initial

financing statement must be active. The status of such a debtor must continue

as active for 1 year after the financing statement lapses.

     (c) The status of the financing statement must be

active. A lapse date 5 years after the filing date must be calculated, unless

the initial financing statement indicates that it is filed:

          (1) With respect to a public-financing

transaction or a manufactured-home transaction, in which case the lapse date

must be 30 years after the filing date; or

          (2) Against a transmitting utility, in which

case there must be no lapse date.

     2.  A financing statement remains active for

1 year after it lapses, or if it indicates that it is filed against a

transmitting utility, for 1 year after it is terminated with respect to all

secured parties of record.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.230  Action on lapse date. (NRS 104.9526)  If a

continuation of a financing statement is not timely filed, the financing

statement lapses on its lapse date, but the filing officer will take no action

concerning the financing statement at that time. On the first anniversary of

the lapse date, the information management system will render the financing

statement inactive and the financing statement will no longer be made available

to a searcher unless inactive financing statements are requested by the

searcher and the financing statement is still retrievable by the information

management system.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.235  Continuation: Date for filing. (NRS 104.9526)

     1.  The first day on which a continuation of

a financing statement may be filed is:

     (a) The day of the sixth calendar month preceding

the month in which the financing statement will otherwise lapse that

corresponds to the day of the month on which the financing statement will

otherwise lapse; or

     (b) If there is no such corresponding day, the last

day of the sixth calendar month preceding the month in which the financing

statement will otherwise lapse.

     2.  The last day on which a continuation of a

financing statement may be filed is the date on which the financing statement

will otherwise lapse.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.240  Continuation: Amount of extension; effect on status. (NRS 104.9526)

     1.  Upon the timely filing of a continuation

of a financing statement by a secured party of record, the lapse date of the

financing statement is extended for 5 years.

     2.  The filing of a continuation of a

financing statement has no effect on the status of any party to the financing

statement.

     3.  Upon the filing of a continuation of a

financing statement, the status of the financing statement remains active.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.243  Addendum form or additional party form must be used to add

additional debtors or additional secured parties. (NRS 104.9526)

     1.  An addendum form or additional party form

must be used to add additional debtors or additional secured parties to an

initial financing statement or an amendment. If an additional debtor or

additional secured party is named on a form or attachment other than an

addendum form or additional party form, the additional debtor or secured party

will not be filed and indexed pursuant to NRS 104.9519.

     2.  As used in this section:

     (a) “Addendum form” means:

          (1) If an initial financing statement is being

filed, UCC Financing Statement Addendum, Form UCC1Ad.

          (2) If an amendment is being filed, UCC

Financing Statement Amendment Addendum, Form UCC3Ad.

     (b) “Additional party form” means:

          (1) If an initial financing statement is being

filed, UCC Financing Statement Additional Party, Form UCC1AP.

          (2) If an amendment is being filed, UCC

Financing Statement Amendment Additional Party, Form UCC3AP.

     (Added to NAC by Sec’y of State by R072-11, eff. 5-30-2012)

      NAC 104.245  Effect of amendment to financing statement. (NRS 104.9526)

     1.  An amendment to a financing statement

affects the status of the debtors and secured parties as follows:

     (a) An amendment that amends only the description

of collateral or one or more addresses has no effect on the status of any

debtor or secured party. If such an amendment:

          (1) Is authorized by less than all of the

secured parties, the amendment affects only the interests of each authorizing

secured party.

          (2) Adds collateral and is authorized by less

than all of the debtors, the amendment affects only the interests of each

authorizing debtor.

     (b) An amendment that changes a debtor’s name has

no effect on the status of any debtor or secured party, except that the related

initial financing statement and all related UCC documents that include an

identification of the initial financing statement will be cross-indexed in the

information management system so that a search under either the debtor’s old

name or the debtor’s new name will reveal the initial financing statement and

the related UCC documents. Such an amendment affects only the rights of its

authorizing secured parties.

     (c) An amendment that changes the name of a secured

party has no effect on the status of any debtor or any secured party, but the

new name will be added to the index as if the name were a new secured party of

record.

     (d) An amendment that adds the name of a new debtor

has no effect on the status of any party to the financing statement, except

that the name of the new debtor will be added as a new debtor on the financing

statement. The addition affects only the rights of the secured parties

authorizing the amendment.

     (e) An amendment that adds a new secured party has

no effect on the status of any party to the financing statement, except that

the name of the new secured party will be added as a new secured party on the

financing statement.

     (f) An amendment that deletes a debtor has no

effect on the status of any party to the financing statement, even if the

amendment purports to delete all debtors.

     (g) An amendment that deletes a secured party of

record has no effect on the status of any party to the financing statement,

even if the amendment purports to delete all secured parties of record.

     2.  An amendment has no effect on the status

of the financing statement, except that a continuation may extend the period of

effectiveness of the financing statement.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.250  Effect of assignment. (NRS 104.9526)

     1.  An assignment has no effect on the status

of the financing statement.

     2.  An assignment has no effect on the status

of the parties to the financing statement, except that each assignee named in

the assignment becomes a secured party of record.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.255  Effect of filing termination of financing statement. (NRS 104.9526)

     1.  The filing of a termination of a

financing statement has no effect on the status of any party to the financing

statement.

     2.  The filing of a termination of a

financing statement has no effect on the financing statement and the financing

statement will remain active in the information management system for 1 year

after it lapses, unless the termination relates to a financing statement that

indicates it is filed against a transmitting utility, in which case the

financing statement will become inactive 1 year after it is terminated with

respect to all secured parties of record.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.260  Effect of filing information statement. (NRS 104.9526)  The

filing of an information statement has no effect on the status of the financing

statement.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001;

A by R072-11, 5-30-2012; R072-11, 5-30-2012, eff. 7-1-2013)

Information Management System

      NAC 104.300  Information included. (NRS 104.9526)

     1.  The filing officer will use an

information management system to store, index and retrieve information relating

to financing statements and other UCC documents. The information management

system will include:

     (a) An index of the names of debtors named on

financing statements that have not lapsed.

     (b) Identification numbers, as follows:

          (1) Each initial financing statement will be

identified by a unique file number assigned pursuant to NRS 104.9519. The file number will

be stamped on a written initial financing statement or otherwise permanently

associated with the record maintained for the initial financing statement in

the information management system. A record will be created in the information

management system for each initial financing statement, and all information

composing the record will be maintained in the system. The record will be

identified by the same information assigned to the initial financing statement.

          (2) A UCC document other than an initial

financing statement will be identified by a unique file number assigned by the

filing officer. In the information management system, records of all UCC

documents other than initial financing statements will be linked to the record

of their related initial financing statement.

     2.  The type of UCC document from which data

is transferred will be identified in the information management system from

information supplied by the remitter.

     3.  The filing date and filing time of UCC

documents will be stored in the information management system. Calculation of

the lapse date of an initial financing statement will be based on the filing

date.

     4.  The names and addresses of debtors and

secured parties will be transferred from UCC documents to the information

management system using one or more data-entry or transmittal techniques.

     5.  Each financing statement will have the

status of active or inactive in the information management system.

     6.  The total number of pages in a UCC

document will be maintained in the information management system.

     7.  The information management system will

indicate whether or not a financing statement will lapse and, if so, when it

will lapse. The lapse date will be determined as provided in NRS 104.9515.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.305  Storage of names of individuals. (NRS 104.9526)  The

names of individuals will be stored in files that include only the names of

individuals and not the names of organizations. Separate data-entry fields will

be established for the first, middle and last names of individuals. A filer shall

place the name of a debtor who has only a single name in the last-name field.

The filing officer assumes no responsibility for the accurate designation of

the components of a name, but will accurately enter the data in accordance with

the designation provided by the filer.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.310  Inclusion of prefix, suffix or title with name of filer. (NRS 104.9526)

     1.  A filer shall not include in a UCC

document:

     (a) A prefix or title, including, without

limitation, “Doctor,” “Reverend,” “Mr.,” “Ms.” and “Mrs.”

     (b) A suffix or title that is not part of the name

of an individual, including, without limitation, “M.D.” and “Esq.”

     2.  A filer may include in a UCC document a

suffix that specifies the individual being named, including, without

limitation, “Senior,” “Junior,” “I,” “II” and “III.” Such a suffix must be

entered in the field designated for name suffixes.

     3.  Notwithstanding the provisions of

subsections 1 and 2, if a UCC document is submitted with designated name

fields, the data will be entered in the information management system exactly

as it appears in those name fields.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.313  Acceptable characters. (NRS 104.9526)  When

entering information concerning a debtor or secured party into the information

management system, the filing officer will not enter any character other than

the letters A through Z in any case, the numerals 0 through 9 and the

ampersand.

     (Added to NAC by Sec’y of State by R072-11, eff. 5-30-2012)

      NAC 104.314  Acceptable punctuation marks. (NRS 104.9526)

     1.  One or more of the following punctuation

marks are acceptable in the name of a secured party or debtor in any UCC

document:

     (a) A period;

     (b) A comma;

     (c) A question mark;

     (d) An exclamation point;

     (e) A colon;

     (f) A semicolon;

     (g) A hyphen;

     (h) Parentheses;

     (i) Braces;

     (j) Brackets;

     (k) Single quotation marks;

     (l) Double quotation marks;

     (m) A forward slash; and

     (n) A backward slash.

     2.  A UCC document which contains any mark

other than a mark listed in subsection 1 will be refused.

     (Added to NAC by Sec’y of State by R072-11, eff. 5-30-2012)

      NAC 104.315  Use of name of trust or settlor. (NRS 104.9526)

     1.  If a name is specified for a trust in its

organic documents, the full legal name of the trust as set forth in those

documents must be used in a UCC document and the trust will be treated as an

organization. If a trust is not so named, the name of the settlor must be used.

If the settlor is an organization, the name will be treated as an organization

name. If the settlor is an individual, the name will be treated as an

individual name.

     2.  A UCC document that uses the name of the

settlor must include other information provided by the filer to distinguish the

debtor trust from other trusts having the same settlor, and all financing

statements filed against trusts or trustees acting with respect to property

held in trust must indicate the nature of the debtor. If this is done in, or as

part of, the name of the debtor, it will be entered in the information

management system as if it were a part of the name.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.320  Designation of name as individual or organization. (NRS 104.9526)  A filing

must designate whether a name is the name of an individual or an organization.

If the name is that of an individual, the first and last names must be given,

and a middle name or initial and any permissible suffix may be given.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.325  Names entered as set forth in UCC document. (NRS 104.9526)

     1.  The filing officer will enter the name of

an organization as specified in a UCC document into the information management

system exactly as the name of the organization is 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.

     2.  The filing officer will enter the first,

middle and last names of an individual and any suffix as specified in a UCC

document into the information management system exactly as those names are set

forth in the UCC document.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.330  Correction of error by filing officer. (NRS 104.9526)  The

filing officer may at any time correct an error made by his or her employees in

the information management system. If the correction occurs after the filing

officer has issued a certification date, the filing officer will file a filing

officer statement in the information management system identifying the record

to which it relates, specifying the date of the correction and explaining the

nature of the corrective action taken. The record will be preserved as long as

the record of the initial financing statement is preserved in the information

management system.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.335  Notification of bankruptcy proceeding. (NRS 104.9526)  The

filing officer will take no action upon receipt of notification of a bankruptcy

proceeding involving a debtor named in the information management system,

regardless of whether that notification is formal or informal.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

Search Request

      NAC 104.350  Searchable index. (NRS 104.9526)  The

filing officer will maintain for public inspection a searchable index for all

records of UCC documents. The index will provide for the retrieval of a record

by the name of the debtor and by the file number of the initial financing

statement and each filed UCC document relating to the initial financing

statement.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.355  Delivery of request. (NRS 104.9526)  A UCC

search request may be delivered to the filing officer by any of the methods by

which a UCC document may be delivered to the filing officer pursuant to NAC 104.170. A UCC search request concerning a debtor

named on an initial financing statement may be made by an appropriate

indication on the face of the form for the initial financing statement if the

form is entitled to be filed and the appropriate filing fee and search fee are

tendered with the initial financing statement.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.360  Contents of request. (NRS 104.9526)

     1.  A UCC search request must contain:

     (a) The name of the debtor to be searched and

whether the debtor is an individual or an organization. A search request will

be processed using the name in the exact form it is submitted.

     (b) The name and address of the person to whom the

search report is to be sent.

     (c) The appropriate search fee.

     2.  If a filer requests a search at the time

a UCC document is filed, the search will be of the name of the debtor as set

forth on the form used for filing the UCC document. The requesting party must

be the remitter of the UCC document, and the search request shall be deemed to

request a search that would retrieve all financing statements filed on or

before the date the UCC document is filed.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.365  Limited search. (NRS 104.9526)

     1.  A UCC search request may limit the copies

requested by limiting the copies to the city of the debtor, the date or range

of dates of filing, or the identity of the secured party of record on the

financing statement.

     2.  A report created by the filing officer in

response to such a request will contain the following statement: “A limited

search may not reveal all filings against the debtor searched, and the

requester of the search bears the risk of relying on such a search.” The

request may ask for copies of UCC documents identified on the primary search

request.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.370  Use of standardized search logic and applicable rules. (NRS 104.9526)

     1.  Search results will be created by

applying standardized search logic to the name presented to the filing officer.

Human judgment will not play a role in determining the results of the search.

     2.  The following rules apply to searches:

     (a) There is no limit to the number of matches that

may be returned in response to the search criteria.

     (b) No distinction will be made between upper and

lower case letters.

     (c) Punctuation marks and accents will be

disregarded.

     (d) Words and abbreviations at the end of a name

that indicate the existence or nature of an organization as set forth in the

“IACA List of Ending Noise Words” adopted by the International Association of

Corporation Administrators will be disregarded. The list is hereby adopted by

reference and may be obtained free of charge from the Secretary of State, 200

North Carson Street, Carson City, Nevada 89701-4069, or on the Internet from

the website of the International Association of Corporation Administrators at http://www.iaca.org/sts/.

     (e) The word “the” at the beginning of the search

criteria will be disregarded.

     (f) All spaces will be disregarded.

     (g) For the first and middle names of individuals,

initials will be treated as the logical equivalent of all names that begin with

those initials. If no middle name or initial is provided, the middle name will

be equated with all middle names and initials. For example, a search request

for “John A. Smith” will cause the search to retrieve all filings against all

individual debtors with “John” as the first name, “Smith” as the last name, and

with the initial “A” or any name beginning with “A” in the middle-name field.

If the search request were for “John Smith,” with no designation in the

middle-name field, the search would retrieve all filings against individual

debtors with “John” as the first name, “Smith” as the last name, and with any

name or initial or no name or initial in the middle-name field.

     3.  After applying the rules provided in

subsection 2 to modify the name to be searched, the search will reveal only

names of debtors that:

     (a) Are contained in financing statements

designated “all” or “unlapsed”; and

     (b) Match the name requested.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)

      NAC 104.375  Reports resulting from search. (NRS 104.9526)  Reports

created in response to a search request will include the following:

     1.  Identification of the filing officer and

the certification of the filing officer required by the UCC.

     2.  The date the report was generated.

     3.  Identification of the name searched.

     4.  The certification date and time for which

the search is effective.

     5.  Identification of each initial financing

statement which has not lapsed and which was filed on or before the

certification date and time corresponding to the search criteria, by the name

of the debtor, the identification number, and the filing date and filing time.

     6.  For each initial financing statement on

the report, a listing of all related UCC documents filed by the filing officer

on or before the certification date.

     7.  Copies of all UCC documents revealed by

the search and requested by the person who requested the search.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)
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