Wyo. Code R. 002-0002-1
Effective Date: 12/28/1990 to 07/01/1997
Rule Type: Superceded Rules & Regulations
Reference Number: 002.0002.1.12281990
Date Filed 12/28/90 Expr Date Supr Date Repeal Date Document Type RULES
Section 1. Authority. Pursuant to W.S. 34-21-1102, the Secretary of State is authorized to promulgate rules and regulations concerning the Wyoming Central Filing System.
(a) The Wyoming Central Filing System was adopted by the Wyoming Legislature in 1989. Central filing is a service to buyers of agricultural products. When a buyer registers with the Secretary of State, he receives information on what agricultural products are 'mortgaged.' If the buyer buys farm products which are 'mortgaged,' the buyer has the option of making out a two party check to the agricultural producer and the producer's lender. Agricultural products which are collateral for a loan, in most circumstances, do not come with 'clear title' which means that the buyer of farm products takes the risk that if the farmer does not use the proceeds of the sale to pay off his loan, then the lender can come against the buyer. The U.S. Congress adopted the Food Security Act of 1985, which created central filing as an option for the individual states, to address the unique problems faced by buyers of agricultural products.
(b) These rules provide:
(i) for other ways to distribute the list to buyers. The Wyoming Central Filing System law statutorily provides that the buyer information may be produced on microfiche or on paper and establishes charges for those two mediums. The law also allows the Secretary of State to distribute the information on other mediums and set a charge for them. The other mediums are 3-1/2' diskette, magnetic tape, and direct computer access via modem.
(ii) for the cut-off date in every month. Once the cut-off date has passed, any effective financing statement filed with the Secretary of State shall not be reflected on the most current buyer information list. It will appear on the next buyer information list.
(iii) the date by which a buyer of agricultural products must be registered with the Secretary of State to receive the most current list.
Section 3. Registration, Mediums and Charges. In order for a buyer to receive the protections afforded him under the federal Food Security Act of 1985 and the Wyoming Central Filing System Law of 1989, a buyer may register with the Secretary of State. The annual registration fee is $50.00. A buyer can choose how he wants his information. Different mediums have different charges which are based on the administrative cost of establishing the medium.
(a) Yearly registration fees:
(i) Yearly microfiche list for statewide crops: Free included in the $50.00 annual registration fee.
(ii) Yearly microfiche list for statewide livestock: Free included in the $50.00 annual registration fee.
(iii) Yearly microfiche list for statewide crops and livestock: $100.00.
(iv) Yearly personal computer diskette (3 1/2 inches) for statewide crops: $93.56.
(v) Yearly personal computer diskette (3 1/2 inches) for statewide livestock: $93.56.
(vi) Yearly personal computer diskette (3 1/2 inches) for statewide crops and livestock: $187.12.
(vii) Yearly magnetic tape for statewide crops: $162.00.
(viii) Yearly magnetic tape for statewide livestock: $162.00.
(ix) Yearly magnetic tape for statewide crops and livestock: $212.00.
(x) Yearly paper list for statewide crops: $600.00.
(xi) Yearly paper list for statewide livestock: $600.00.
(xii) Yearly paper list for statewide crops and livestock: $1,200.00.
(xiii) Yearly direct computer access via modem: $50.00 plus actual costs of accessing the computer which will vary month to month depending upon the nature and time of the computer queries.
(xiv) Yearly microfiche list for specific counties or specific farm products: $150.00.
(xv) Yearly personal computer diskette (3 1/2 inches) for specific counties or specific products: $193.56.
Section 4. Cut-off Dates for Effective Financing Statements. The list will be produced the fourth Thursday of each month beginning January 24, 1991 after 5:00 p.m. The fourth Thursday of each month will be the cut-off date. If the fourth Thursday falls on a holiday the list will be produced on the next state working day. The first list will be produced on December 28, 1989 after 5:00 p.m. Any effective financing statement received before the cut-off date for the current monthly cycle shall be included on the list. For instance, the December 28, 1989 list shall reflect all effective financing statements filed with the Secretary of State up to December 28, 1989 at 5:00 p.m. If an effective financing statement is filed on December 29, 1989 it will not be reflected on the December 28, 1989 list but rather on the January 25, 1990 list. Any products which are listed on the effective financing statement which was filed on December 29, 1989 that are sold during the month of January come with clear title to a buyer of the farm products unless the buyer has registered for direct computer access via modem. This type of registration binds the buyer to all information on file in the Central Filing System; not just the information contained on the latest produced list.
The list takes effect upon the buyer receiving notice. W.S. 34-21-1101 (a) (viii) provides that receipt of notice is the earliest of the date the buyer actually receives the list, the first day upon which delivery of the list is attempted by a carrier or five days after the list is mailed. Consequently, the latest day when the list goes into effect is five days after it is mailed.
If any buyer does not receive the list by noon of the fifth day after the list is mailed, the buyer should call the Secretary of State immediately because the list binds the buyer on that fifth date pursuant to the regulations of the Packers and Stockyards Administration, Section 205.208 (c). If a registered buyer does not receive the list by noon of the fifth day, the buyer may call the Secretary of State and may obtain specific effective financing statement information orally at no extra charge.
The mailing date is the next day after the cut-off date. For instance the December 28, 1989 lists shall be mailed on Friday, December 29, 1989.
Section 5. Buyer Registration Cut-off Date. Any buyer may register with the Secretary of State at any time during the year. The same monthly cycle shall apply to buyer registrations. The Secretary of State shall print five extra statewide livestock and statewide crop microfiche. Any buyer which registers after the cut-off date will be sent the latest produced microfiche as long as there are extras. If the Secretary of State finds that five extra copies of both lists are not sufficient, then the Secretary of State shall authorize that additional sets be produced.
Section 6. Telephone Inquiries. Nothing prevents any person from calling this office to determine if a particular name is on the Central Filing System. Information provided pursuant to an inquiry from a non-registrant is only valid and correct as of the day and time the information is provided.