SENATE BILL No. 1236

 

 

March 26, 2008, Introduced by Senator KAHN and referred to the Committee on Judiciary.

 

 

 

      A bill to amend 1962 PA 174, entitled

 

"Uniform commercial code,"

 

by amending sections 9515, 9516, 9520, and 9521 (MCL 440.9515,

 

440.9516, 440.9520, and 440.9521), as added by 2000 PA 348; and

 

to repeal acts and parts of acts.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

 1        Sec. 9515. (1) Except as otherwise provided in subsections

 

 2  (2), (5), (6), and (7), a filed financing statement is effective

 

 3  for a period of 5 years after the date of filing.

 

 4        (2) Except as otherwise provided in subsections (5), (6),

 

 5  and (7), an initial financing statement filed in connection with

 

 6  a manufactured-home transaction is effective for a period of 30

 

 7  years after the date of filing if it indicates that it is filed


 

 1  in connection with a manufactured-home transaction.

 

 2        (3) The effectiveness of a filed financing statement lapses

 

 3  on the expiration of the period of its effectiveness unless

 

 4  before the lapse a continuation statement is filed pursuant to

 

 5  subsection (4). Upon lapse, a financing statement ceases to be

 

 6  effective and any security interest or agricultural lien that was

 

 7  perfected by the financing statement becomes unperfected, unless

 

 8  the security interest is perfected otherwise. If the security

 

 9  interest or agricultural lien becomes unperfected upon lapse, it

 

10  is deemed never to have been perfected as against a purchaser of

 

11  the collateral for value.

 

12        (4) A continuation statement may be filed only within 6

 

13  months before the expiration of the 5-year period specified in

 

14  subsection (1) or the 30-year period specified in subsection (2),

 

15  whichever is applicable.

 

16        (5) Except as otherwise provided in section 9510, upon

 

17  timely filing of a continuation statement, the effectiveness of

 

18  the initial financing statement continues for a period of 5 years

 

19  commencing on the day on which the financing statement would have

 

20  become ineffective in the absence of the filing. Upon the

 

21  expiration of the 5-year period, the financing statement lapses

 

22  in the same manner as provided in subsection (3), unless, before

 

23  the lapse, another continuation statement is filed pursuant to

 

24  subsection (4). Succeeding continuation statements may be filed

 

25  in the same manner to continue the effectiveness of the initial

 

26  financing statement.

 

27        (6) If a debtor is an organization identified as a


 

 1  transmitting utility and a filed initial financing statement so

 

 2  indicates, the financing statement is effective until a

 

 3  termination statement is filed. A financing statement that is

 

 4  filed before the effective date of the amendatory act that added

 

 5  this sentence is effective for a period of 5 years after the date

 

 6  of filing and shall not be continued under this section if the

 

 7  financing statement indicates either of the following:

 

 8        (a) That the debtor is an individual purporting to be a

 

 9  transmitting utility.

 

10        (b) That the debtor is an individual showing his or her name

 

11  as an organization and purporting to be a transmitting utility.

 

12        (7) A record of a mortgage that is effective as a financing

 

13  statement filed as a fixture filing under section 9502(3) remains

 

14  effective as a financing statement filed as a fixture filing

 

15  until the mortgage is released or satisfied of record or its

 

16  effectiveness otherwise terminates as to the real property.

 

17        Sec. 9516. (1) Except as otherwise provided in subsection

 

18  (2), communication of a record to a filing office and tender of

 

19  the filing fee or acceptance of the record by the filing office

 

20  constitutes filing.

 

21        (2) Filing does not occur with respect to a record that a

 

22  filing office refuses to accept because of 1 or more of the

 

23  following:

 

24        (a) The record is not communicated by a method or medium of

 

25  communication authorized by the filing office.

 

26        (b) An amount equal to or greater than the applicable filing

 

27  fee is not tendered.

 

 1        (c) The filing office is unable to index the record because

 

 2  of 1 or more of the following:

 

 3        (i) In the case of an initial financing statement, the record

 

 4  does not provide a name for the debtor.

 

 5        (ii) In the case of an amendment or correction statement, the

 

 6  record does not identify the initial financing statement as

 

 7  required by section 9512 or 9518, as applicable, or identifies an

 

 8  initial financing statement whose effectiveness has lapsed under

 

 9  section 9515.

 

10        (iii) In the case of an initial financing statement that

 

11  provides the name of a debtor identified as an individual or an

 

12  amendment that provides a name of a debtor identified as an

 

13  individual that was not previously provided in the financing

 

14  statement to which the record relates, the record does not

 

15  identify the debtor's last name.

 

16        (iv) In the case of a record filed or recorded in the filing

 

17  office described in section 9501(1)(a), the record does not

 

18  provide a sufficient description of the real property to which it

 

19  relates.

 

20        (d) In the case of an initial financing statement or an

 

21  amendment that adds a secured party of record, the record does

 

22  not provide a name and mailing address for the secured party of

 

23  record.

 

24        (e) In the case of an initial financing statement or an

 

25  amendment that provides a name of a debtor which was not

 

26  previously provided in the financing statement to which the

 

27  amendment relates, the record does not provide or indicate 1 or


 

 1  more of the following:

 

 2        (i) Provide a mailing address for the debtor.

 

 3        (ii) Indicate whether the debtor is an individual or an

 

 4  organization.

 

 5        (iii) If the financing statement indicates that the debtor is

 

 6  an organization, provide 1 or more of the following:

 

 7        (A) A type of organization for the debtor.

 

 8        (B) A jurisdiction of organization for the debtor.

 

 9        (C) An organizational identification number for the debtor

 

10  or indicate that the debtor has none.

 

11        (f) In the case of an assignment reflected in an initial

 

12  financing statement under section 9514(1) or an amendment filed

 

13  under section 9514(2), the record does not provide a name and

 

14  mailing address for the assignee.

 

15        (g) In the case of a continuation statement, the record is

 

16  not filed within the 6-month period prescribed by section

 

17  9515(4).

 

18        (3) For purposes of subsection (2), both of the following

 

19  apply:

 

20        (a) A record does not provide information if the filing

 

21  office is unable to read or decipher the information.

 

22        (b) A record that does not indicate that it is an amendment

 

23  or identify an initial financing statement to which it relates,

 

24  as required by section 9512, 9514, or 9518, is an initial

 

25  financing statement.

 

26        (4) A record that is communicated to the filing office with

 

27  tender of the filing fee, but which the filing office refuses to


 

 1  accept for a reason other than one set forth in subsection (2) or

 

 2  section 9520(5), is effective as a filed record except as against

 

 3  a purchaser of the collateral which gives value in reasonable

 

 4  reliance upon the absence of the record from the files.

 

 5        Sec. 9520. (1) A filing office shall refuse to accept a

 

 6  record for filing for a reason set forth in section 9516(2) or

 

 7  subsection (5) and may refuse to accept a record for filing only

 

 8  for a reason set forth in section 9516(2) or subsection (5).

 

 9        (2) If a filing office refuses to accept a record for

 

10  filing, it shall communicate to the person that presented the

 

11  record the fact of and reason for the refusal and the date and

 

12  time the record would have been filed had the filing office

 

13  accepted it. The communication must be made at the time and in

 

14  the manner prescribed by filing-office rule but, in the case of a

 

15  filing office described in section 9501(1)(b), in no event more

 

16  than 2 business days after the filing office receives the record.

 

17        (3) A filed financing statement satisfying section 9502(1)

 

18  and (2) is effective, even if the filing office is required to

 

19  refuse to accept it for filing under subsection (1). However,

 

20  section 9338 applies to a filed financing statement providing

 

21  information described in section 9516(2)(e) that is incorrect at

 

22  the time the financing statement is filed.

 

23        (4) If a record communicated to a filing office provides

 

24  information that relates to more than 1 debtor, this part applies

 

25  as to each debtor separately.

 

26        (5) Notwithstanding any other provision of this act, if a

 

27  person presents a record to a filing office for filing or


 

 1  recording, the filing office may refuse to accept the record for

 

 2  filing or recording if 1 or more of the following circumstances

 

 3  exist:

 

 4        (a) The record is not required or authorized to be filed or

 

 5  recorded with the filing office.

 

 6        (b) The record is being filed or recorded for a purpose

 

 7  outside the scope of this article.

 

 8        (c) The filing office has reasonable cause to believe the

 

 9  record is materially false or fraudulent.

 

10        (d) The record is intended for an improper purpose, such as

 

11  to hinder, harass, or otherwise wrongfully interfere with a

 

12  person. For purposes of this subsection, an improper purpose

 

13  includes, but is not limited to, asserting a claim against a

 

14  current or former employee or officer of a federal, state,

 

15  county, or other local governmental unit that relates to the

 

16  performance of the officer's or employee's public duties, and for

 

17  which the filer does not hold a properly executed security

 

18  agreement or judgment from a court of competent jurisdiction.

 

19        (e) The record indicates that the debtor and the secured

 

20  party are substantially the same or that an individual debtor is

 

21  a transmitting utility.

 

22        (6) Subsection (5) does not create a duty on the filing

 

23  office to inspect, evaluate, or investigate a record that is

 

24  presented for filing or recording.

 

25        (7) If a correction statement filed under section 9518

 

26  alleges that a previously filed record was wrongfully filed and

 

27  should have been rejected under subsection (5), the filing office


 

 1  shall, without undue delay, determine whether the contested

 

 2  record was wrongfully filed and should have been rejected. To

 

 3  determine whether the record was wrongfully filed, the filing

 

 4  office may require the person who filed the correction statement

 

 5  or the secured party to provide any additional relevant

 

 6  information requested by the filing office, including an original

 

 7  or copy of a security agreement that is related to the record. If

 

 8  the filing office finds that the record was wrongfully filed and

 

 9  should have been rejected under subsection (5), the filing office

 

10  shall terminate the record and the record is void and

 

11  ineffective. The filing office shall notify the secured party

 

12  named in the contested record of the termination.

 

13        (8) If a filing office refuses to accept a record for filing

 

14  or recording pursuant to subsection (5) or determines that a

 

15  record was wrongfully filed and terminates the record pursuant to

 

16  subsection (7), the person who presented the record to the filing

 

17  office may commence an action in or apply for an order from the

 

18  circuit court to require the filing office to accept or reinstate

 

19  the record for filing or recording. If the court determines that

 

20  the record is appropriate for filing or recording, it shall order

 

21  the filing office to accept or reinstate the record. A record

 

22  ordered to be accepted or reinstated under this subsection is

 

23  effective as a filed record from the initial filing date except

 

24  as against a purchaser of the collateral which gives value in

 

25  reasonable reliance on the absence of the record from the files.

 

26        (9) A filing officer who, acting in a manner that does not

 

27  subject the filing officer to personal liability under the


 

 1  statutes of this state, improperly refuses to accept a record for

 

 2  filing or recording under subsection (5) or determines that a

 

 3  record was wrongfully filed and terminates the record under

 

 4  subsection (7) is not personally liable for the improper refusal

 

 5  or determination.

 

 6        (10) Subsections (5) and (7) do not apply to a financing

 

 7  statement filed by a regulated financial institution or a

 

 8  representative of a regulated financial institution. If a

 

 9  regulated financial institution that is attempting to file a

 

10  financing statement is organized under the law of a governmental

 

11  unit other than this state, the filing office may request the

 

12  regulated financial institution or its representative to provide

 

13  verification of regulation or licensure in the jurisdiction under

 

14  whose law the institution is organized. As used in this

 

15  subsection, "regulated financial institution" means a bank,

 

16  savings bank, savings association, building and loan association,

 

17  credit union, consumer finance company, industrial bank,

 

18  industrial loan company, insurance company, investment company,

 

19  mortgage servicer, or other financial institution subject to

 

20  regulatory oversight or examination by a state or federal agency.

 

21        Sec. 9521. (1) A filing office that accepts written records

 

22  for filing shall not refuse to accept a written initial financing

 

23  statement in the following form that conforms to the current

 

24  format prescribed by the national conference of commissioners on

 

25  uniform state laws, except for a reason set forth in section

 

26  9516(2) : or 9520(5).

 

 

1

                       UCC FINANCING STATEMENT

2

            FOLLOW INSTRUCTIONS (FRONT AND BACK) CAREFULLY

3

 A. NAME AND PHONE OF CONTACT AT FILER [optional]

4

    ______________________________________________________________

5

 B. SEND ACKNOWLEDGMENT TO: (Name and Address)

6

    ______________________________________THE ABOVE SPACE IS FOR

7

    ______________________________________FILING OFFICE USE ONLY

8

 1. DEBTOR'S EXACT FULL LEGAL NAME – insert only 1 debtor name

9

   (1a or 1b) – do not abbreviate or combine names

10

    1a. ORGANIZATION'S NAME

11

    ______________________________________________________________

12

 OR 1b. INDIVIDUAL'S LAST NAME  FIRST NAME  MIDDLE NAME  SUFFIX

13

    ______________________________________________________________

14

    1c. MAILING ADDRESS  CITY  STATE  POSTAL CODE  COUNTRY

15

    ______________________________________________________________

16

    1d. TAX ID. NO.   ADD'L INFO. RE   1e. TYPE OF ORGANIZATION

17

       SSN OR EIN    ORGANIZATION

18

                     DEBTOR

19

    ______________   ______________    ____________________________

20

    1f. JURISDICTION OF ORGANIZATION   1g. ORGANIZATIONAL

21

                                          ID. No., if any

22

    _______________________________   __________________ [  ] NONE

23

 2. ADDITIONAL DEBTOR'S EXACT FULL LEGAL NAME – insert only 1

24

    debtor name (2a or 2b) – do not abbreviate or combine names

25

    2a. ORGANIZATION'S NAME

26

    ______________________________________________________________

27

 OR 2b. INDIVIDUAL'S LAST NAME  FIRST NAME  MIDDLE NAME   SUFFIX

28

     ______________________________________________________________

29

    2c. MAILING ADDRESS  CITY  STATE  POSTAL CODE  COUNTRY

30

     ______________________________________________________________

31

    2d. TAX ID. NO.   ADD'L INFO. RE   2e. TYPE OF ORGANIZATION

32

       SSN OR EIN    ORGANIZATION

33

                     DEBTOR

34

    _____________    ______________    ____________________________

35

    2f. JURISDICTION OF ORGANIZATION   2g. ORGANIZATIONAL

36

                                          ID. No., if any

37

    _______________________________   __________________ [  ] NONE

1

 3. SECURED PARTY'S NAME (or name of total assignee of assignor

2

    S/P) – insert only 1 secured party name (3a or 3b)

3

    3a. ORGANIZATION'S NAME

4

    ______________________________________________________________

5

 OR 3b. INDIVIDUAL'S LAST NAME  FIRST NAME  MIDDLE NAME   SUFFIX

6

    ______________________________________________________________

7

    3c. MAILING ADDRESS  CITY  STATE  POSTAL CODE  COUNTRY

8

    ______________________________________________________________

9

 4. This FINANCING STATEMENT covers the following collateral:

10

    ______________________________________________________________

11

 5. ALTERNATIVE DESIGNATION [if applicable]:  [ ]  LESSEE/LESSOR

12

   [ ] CONSIGNEE/CONSIGNOR [ ] BAILEE/BAILOR [ ]  SELLER/BUYER

13

   [ ] AG. LIEN [ ] NON-UCC FILING

14

 6. [ ] This FINANCING STATEMENT is to be filed (for record) (or

15

   recorded) in the REAL ESTATE RECORDS.

16

   Attach Addendum [if applicable]

17

 7. Check to REQUEST SEARCH REPORT(S) on Debtor(s)

18

   [ ] All Debtors [ ] Debtor 1 [ ] Debtor 2

19

   [ADDITIONAL FEE]    [optional]

20

    ______________________________________________________________

21

 8. OPTIONAL FILER REFERENCE DATA

22

    ______________________________________________________________

23

FILING OFFICE COPY – NATIONAL UCC FILING STATEMENT (FORM UCC 1)

24

                           (REV. 07/29/98)

25

 

26

                            [BACK OF FORM]

27

                   UCC FINANCING STATEMENT ADDENDUM

28

Follow instructions (front and back) CAREFULLY.

29

 9. NAME OF FIRST DEBTOR (1a or 1b) ON RELATED FINANCING STATEMENT

30

    ______________________________________________________________

31

    9a. ORGANIZATION'S NAME

32

    ______________________________________________________________

33

 OR 9b. INDIVIDUAL'S LAST NAME  FIRST NAME  MIDDLE NAME   SUFFIX

1

    ______________________________________________________________

2

10. MISCELLANEOUS:

3

    ________________________________________THE ABOVE SPACE IS FOR

4

    ________________________________________FILING OFFICE USE ONLY

5

11. ADDITIONAL DEBTOR'S EXACT FULL LEGAL NAME – insert only 1

6

    name (11a or 11b) – do not abbreviate or combine names

7

    11a. ORGANIZATION'S NAME

8

     ______________________________________________________________

9

OR 11b. INDIVIDUAL'S LAST NAME  FIRST NAME  MIDDLE NAME   SUFFIX

10

     ______________________________________________________________

11

    11c. MAILING ADDRESS  CITY  STATE  POSTAL CODE   COUNTRY

12

    ______________________________________________________________

13

    11d. TAX ID. NO.  ADD'L INFO. RE  11e. TYPE OF ORGANIZATION

14

         SSN OR EIN   ORGANIZATION    

15

                      DEBTOR

16

         __________   _______________   ___________________________

17

    11f. JURISDICTION OF ORGANIZATION  11g. ORGANIZATIONAL

18

                                            ID. No., if any

19

    _________________________________   ___________________[ ] NONE

20

12. [ ] ADDITIONAL SECURED PARTY'S or [ ] ASSIGNOR S/P'S NAME -

21

    insert only 1 name (12a or 12b).

22

    12a. ORGANIZATION'S NAME

23

     ______________________________________________________________

24

 OR 12b. INDIVIDUAL'S LAST NAME  FIRST NAME  MIDDLE NAME   SUFFIX

25

     ______________________________________________________________

26

    12c. MAILING ADDRESS  CITY  STATE  POSTAL CODE   COUNTRY

27

     ______________________________________________________________

28

13. This FINANCING STATEMENT covers [ ] timber to be cut or

29

    [ ] as-extracted collateral, or is filed as a [ ]  fixture

30

    filing.

31

14. Description of real estate:

32

     ______________________________________________________________

33

15. Name and address of a RECORD OWNER of the above-described

34

    real estate (if Debtor does not have record interest):

1

    ______________________________________________________________

2

16. Additional collateral description:

3

     ______________________________________________________________

4

17. Check only if applicable and check only 1 box:

5

    Debtor is a [ ] Trust or [ ] Trustee acting with respect to

6

    property held in trust or [ ] Decedent's Estate

7

18. Check only if applicable and check only 1 box:

8

    [ ] Debtor is a TRANSMITTING UTILITY

9

    [ ] Filed in connection with a Manufactured-Home Transaction

10

         - effective 30 years

11

    [ ] Filed in connection with a Public-Finance Transaction -

12

        effective 30 years

13

 

14

FILING OFFICE COPY – NATIONAL UCC FILING STATEMENT (FORM UCC 1Ad)

15

(REV. 07/29/98)

 

 

16        (2) A filing office that accepts written records for filing

 

17  shall not refuse to accept a written financing statement

 

18  amendment in the following form on a form that conforms to the

 

19  current format prescribed by the national conference of

 

20  commissioners on uniform state laws, except for a reason set

 

21  forth in section 9516(2) : or 9520(5).

 

 

22

                  UCC FINANCING STATEMENT AMENDMENT

23

FOLLOW INSTRUCTIONS (FRONT AND BACK) CAREFULLY

24

A.  NAME AND PHONE OF CONTACT AT FILER [optional]

25

     ______________________________________________________________

26

B.  SEND ACKNOWLEDGMENT TO: (Name and Address)

27

    _______________________________________ THE ABOVE SPACE IS FOR

28

    _______________________________________ FILING OFFICE USE ONLY

29

1a. INITIAL FINANCING STATEMENT FILE NO.

1

     ______________________________________________________________

2

1b. [ ] This FINANCING STATEMENT AMENDMENT is to be filed  (for

3

    record) (or recorded) in the REAL ESTATE RECORDS.

4

2. [ ] TERMINATION: Effectiveness of the Financing Statement

5

    identified above is terminated with respect to security

6

    interest(s) of the Secured Party authorizing this Termination

7

    Statement.

8

3.  [ ] CONTINUATION: Effectiveness of the Financing Statement

9

    identified above with respect to security interest(s) of the

10

    Secured Party authorizing this Continuation Statement is con-

11

    tinued for the additional period provided by applicable law.

12

4.  [ ] ASSIGNMENT (full or partial): Give name of assignee in

13

    item 7a or 7b and address of assignee in item 7c; and also

14

    give name of assignor in item 9.

15

     ______________________________________________________________

16

5.  AMENDMENT (PARTY INFORMATION): This Amendment affects

17

    [ ] Debtor or [ ] Secured Party of record.  Check only 1 of

18

    these 2 boxes. Also check 1 of the following three boxes and

19

    provide appropriate information in items 6 and/or 7.

20

    [ ] CHANGE name and/or address: Give current record name in

21

    item 6a or 6b; also give new name (if name change) in

22

    item 7a or 7b and/or new address (if address change)  in

23

    item 7c.

24

    [ ] DELETE name: Give record name to be deleted in item 6a

25

    or 6b.

26

    [ ] ADD name: Complete item 7a or 7b, and also item 7c; also

27

    complete items 7d-7g (if applicable).

28

6. CURRENT RECORD INFORMATION:

29

    6a. ORGANIZATION'S NAME

30

     ______________________________________________________________

31

OR 6b. INDIVIDUAL'S LAST NAME  FIRST NAME  MIDDLE NAME   SUFFIX

32

     ______________________________________________________________

33

7. CHANGED (NEW) OR ADDED INFORMATION:

34

    7a. ORGANIZATION'S NAME

35

     ______________________________________________________________

36

OR 7b. INDIVIDUAL'S LAST NAME  FIRST NAME  MIDDLE NAME   SUFFIX

37

     ______________________________________________________________

38

    7c. MAILING ADDRESS  CITY  STATE  POSTAL CODE  COUNTRY

1

     ______________________________________________________________

2

    7d. TAX ID. NO.  ADD'L INFO. RE  7e. TYPE OF ORGANIZATION

3

        SSN OR EIN   ORGANIZATION

4

                     DEBTOR

5

    ______________   _______________   ____________________________

6

    7f. JURISDICTION OF ORGANIZATION  7g. ORGANIZATIONAL

7

                                          ID. No., if any

8

    ________________________________  __________________ [  ] NONE

9

8. AMENDMENT (COLLATERAL CHANGE): check only 1 box

10

    Describe collateral [ ] deleted or [ ] added, or give

11

    entire [ ] restated collateral description, or describe

12

    collateral [ ] assigned.

13

     ______________________________________________________________

14

9. NAME OF SECURED PARTY OF RECORD AUTHORIZING THIS AMENDMENT

15

    (name of assignor, if this is an Assignment). If this is an

16

    Amendment authorized by a Debtor which adds collateral or

17

    adds the authorizing Debtor, or if this is a Termination

18

    authorized by a Debtor, check here [ ] and enter name of

19

    DEBTOR authorizing this Amendment.

20

    9a. ORGANIZATION'S NAME

21

     ______________________________________________________________

22

 OR 9b. INDIVIDUAL'S LAST NAME  FIRST NAME  MIDDLE NAME   SUFFIX

23

     ______________________________________________________________

24

10. OPTIONAL FILE REFERENCE DATA

25

     ______________________________________________________________

26

 

27

FILING OFFICE COPY – NATIONAL UCC FINANCING STATEMENT AMENDMENT

28

                     (FORM UCC3) (REV. 07/29/98)

29

 

30

                            [BACK OF FORM]

31

               UCC FINANCING STATEMENT AMENDMENT ADDENDUM

32

FOLLOW INSTRUCTIONS (front and back) CAREFULLY

33

11. INITIAL FINANCING STATEMENT FILE NO. (same as item 1a on

34

    Amendment form)

35

    ______________________________________________________________

1

12. NAME OF PARTY AUTHORIZING THIS AMENDMENT (same as item 9 on

2

    Amendment form)

3

    12a. ORGANIZATION'S NAME

4

     ______________________________________________________________

5

OR 12b. INDIVIDUAL'S LAST NAME  FIRST NAME  MIDDLE NAME   SUFFIX

6

     ______________________________________________________________

7

13. USE THIS SPACE FOR ADDITIONAL INFORMATION

8

    ____________________________________ THIS SPACE IS FOR

9

    ____________________________________ FILING OFFICE USE ONLY

10

 

11

FILING OFFICE COPY – NATIONAL UCC FINANCING STATEMENT AMENDMENT

12

                 ADDENDUM (FORM UCC3Ad) (REV. 07/29/98)

 

 

13        (3) A form that a filing office may not refuse to accept

 

14  under subsection (1) or (2) must conform to the format prescribed

 

15  for the form by the National Conference of Commissioners.

 

16        Enacting section 1. Section 9527 of the uniform commercial

 

17  code, 1962 PA 174, MCL 440.9527, is repealed.