Procedure Upon Refusal

Except as provided in Rule 1360-08-01-.08, if the filing officer finds grounds to refuse a UCC record, the filing officer shall return the filing fee and recording tax, if any. Communication of the refusal, the reason(s) for the refusal, and other related information will be made to the remitter as soon as practicable and in no event more than two (2) business days after the refused UCC record was received by the filing office, by the same means by which such UCC record was delivered to the filing office or by mail or such more expeditious means as the filing office shall determine. Records of refusal, including a copy of the refused UCC record and the ground(s) for refusal, shall be maintained for a period of five (5) years from the initial rejection date.