(810 ILCS 5/9-520)
Acceptance and refusal to accept record.
(a) Mandatory refusal to accept record. A filing office shall
refuse to accept a record for filing for a reason set forth in Section 9-516(b)
may refuse to accept a record for filing only for a reason set forth in Section
(b) Communication concerning refusal. If a filing office refuses
to accept a record for filing, it shall communicate to the person that
record the fact of and reason for the refusal and the date and time the record
have been filed had the filing office accepted it. The communication must be
at the time and in the manner prescribed by filing-office rule,
but in the case of a filing
office described in Section 9-501(a)(2),
in no event more than two
days after the filing office receives the record.
(c) When filed financing statement effective. A filed financing
statement satisfying Section 9-502(a) and (b) is effective, even if the filing
required to refuse to accept it for filing under subsection (a). However,
9-338 applies to a filed financing statement providing information described in
Section 9-516(b)(5) which is incorrect at the time the financing statement is
(d) Separate application to multiple debtors. If a record
communicated to a filing office provides information that relates to more than
debtor, this Part applies as to each debtor separately.
(Source: P.A. 91-893, eff. 7-1-01.)