Purpose

(1) 950 CMR 140.00 describes the practices and procedures of the Uniform Commercial Code Section of the Office of the Secretary of the Commonwealth relative to Revised Article 9 of the Uniform Commercial Code (UCC). They do not apply to a filing office in which mortgages or records of mortgages on real property are required to be filed or recorded. (2) The duties and responsibilities of the filing officer with respect to the administration of the UCC are ministerial. In accepting for filing or refusing to file a UCC record pursuant to 950 CMR 140.00, the filing officer does none of the following: (a) Determine the legal sufficiency or insufficiency of a record. (b) Determine that a security interest in collateral exists or does not exist. (c) Determine that information in the record is correct or incorrect, in whole or in part. (d) Create a presumption that information in the record is correct or incorrect, in whole or in part.