Data Entry

Data entry and indexing functions are performed as follows: (1) Filing Date. The time and date of filing are determined as provided in 950 CMR 140.06. (2) Lapse Date. A lapse date is calculated for each initial financing statement (unless the debtor is a transmitting utility). The lapse date is the same date of the same month as the filing date in the fifth year after the filing date or the relevant subsequent fifth anniversary thereof if a timely continuation statement is filed. If the initial financing statement indicates that it is filed with respect to a public finance transaction or a manufactured home transaction, the lapse date is the same date of the month as the filing date in the 30th year after the filing date. The relevant th st th anniversary for a February 29 filing date shall be March 1 in the fifth or 30 year following 40.40: continued the date of filing. The last day on which a continuation may be filed is the date upon which the financing statement lapses.