A. The duties and responsibilities of the filing office with respect to the administration of the UCC are ministerial. In accepting for recordation or refusing to record a financing statement pursuant to this subtitle, the filing office does not:
- (1) Determine the legal sufficiency or insufficiency of a record;
- (2) Determine that a security interest in collateral exists or does not exist;
- (3) Determine that information in the record is correct or incorrect, in whole or in part; or
- (4) Create a presumption that information in the record is correct or incorrect, in whole or in part.
- B. The responsibility for the legal effectiveness of a financing statement filing rests with the filers and remitters, and the filing office bears no responsibility for effectiveness.
- C. The State and the filing office and their employees and agents are immune from liability that occurs as a result of errors in or omissions from information provided from the UCC information management system or any other errors or omissions with respect to financing statement filings.
Authority: Commercial Law Article, §§9-501.1 and 9-526; Corporations and Associations Article, §§1-203(8) and 1-203.2; Annotated Code of Maryland
Effective date: July 1, 2001 (28:12 Md. R. 1112)
Regulation .04A amended effective July 4, 2016 (43:13 Md. R. 714)
Regulation .05 amended effective December 21, 2015 (42:25 Md. R. 1546)
Regulation .06 amended effective July 4, 2016 (43:13 Md. R. 714)
Regulation .07 amended effective July 4, 2016 (43:13 Md. R. 714)