Ala. Admin. Code r. 820-4-2-.05

Current through Register Vol. 43, No. 1, October 31, 2024

Section 820-4-2-.05 - Registration And Master Lists

(1) "Annual Registration." Buyers, commission merchants and selling agents may register with the Secretary of State for an annual period by submitting a registration form and tendering a fee as set by the Alabama Code. The Secretary of State may prorate the registration fees for purposes of matching revenues and expenditures in the same fiscal year.

(2) "Registration Form." The Secretary of State designates form U.C.C.-20 as the official form to be used in registering for a master list or portion thereof. Registrants are not required to use the U.C.C.-20 form, but must meet the requirements as listed in paragraph (c) of this rule.

(3) Requirements of Form U. C. C.-20. A registration form must include the following information:

(a) The name and address of the buyer, commission merchant, or selling agent. Any address changes shall be reported immediately to the Secretary of State.

(b) Farm product or products in which registrant is interested.

(c) County or certain counties in which the registrant is interested in such product or products listed in response to (2) above. A registrant, if not registered for any specified county or counties, shall be deemed to have registered for all counties.

(4) "Organization Of The Master List." The Secretary of State shall compile all effective financing statements into a list organized according by farm products and arranged within each such product:

(a) in alphabetical order according to the last name of the individual debtors or the case of debtors doing business other than as individuals, the first word in the name of such debtors which is not an article.

(b) in numerical order according to the social security number of the individual debtors or, in the case of debtors doing business other than as individuals, the Internal Revenue Service taxpayer identification number of such debtors.

(c) geographically by county where crop is produced.

(d) by crop year.

(5) "Contents Of The Master List." The master list will contain:

(a) the name and address of the secured party.

(b) the name and address of the person subjecting the product to a security interest.

(c) the social security number of the debtor or, in the case of a debtor doing business other than as an individual, the Internal Revenue Service taxpayer identification number of such debtor.

(d) a description of the farm products subject to the security interest created by the debtor, including the amount of the products where applicable, and a reasonable description of the property including county in which the property is located.

(6) "Distribution Of The Master List." Copies of the master list are prepared on a monthly basis and are distributed within five working days after the end of a month. Master lists are distributed by electronic means or by first class mail in a printed or microfiche format and are divided into five sections. Each section is initially divided by product type and subsequently organized in alphabetical order by the first word of the debtor's name, in numerical order by Social Security or Internal Revenue taxpayer identification number, by crop year and then in alphabetical order by the first word of the debtor's name, by county in which the product is produced and then in alphabetical order by the first word of the debtor's name, or by county of debtors' location and then in alphabetical order by the first word of the debtor's name.

(7) "Partial Lists." The master list is organized in such a manner that information regarding the debtor and collateral in question can be readily obtained for registrants requesting only portions of the master list. These lists are prepared on a monthly basis and are distributed within five working days after the end of a month. These lists are distributed by electronic means or by first class mail in a printed or microfiche format and are divided into two sections. One section will be organized in alphabetical order by debtor name. The other section will be organized in numerical order by social security or Internal Revenue Service taxpayer identification number. These portions contain:

(a) A heading for each farm product for which the registrant has registered and contain for each such product a subheading for each debtor with effective financing statements on file with the system.

(b) Name, address, and social security number or, if other than a natural person, Internal Revenue Service taxpayer identification number, of each debtor (or other person subjecting a farm product to a security interest).

(c) Further details of the farm product subject to the security interest if such details were supplied on the effective financing statement.

(d) Name and address of the secured party.

(8) "Availability Of Direct Computer Access." Registrants may elect to obtain computer terminal hook-up for on-line access in addition to receiving the master list or a portion thereof in written or microfiche format. The costs for this access are the direct costs required of the Secretary of State to provide this service and a registration fee.

(9) "Telephone Requests." Within twenty-four hours after receipt of a telephone request, the Secretary of State shall furnish oral confirmation of any effective financing statement in the system to any farm products buyer purchasing from a debtor, commission merchant, or selling agent selling for a seller covered by such statement. The oral confirmation will be followed by written confirmation, mailed by the end of the next business day following oral confirmation. The fee for the written confirmation is established by the Code of Alabama. Telephone requests for information will only be accepted by debtor name, debtor Social Security or Internal Revenue Service taxpayer identification number, or filing number.

(10) "Non-Receipt of Master List Or Portions Thereof." Registrants will be considered notified if the Alabama Secretary of State has mailed the list by first class mail within five working days of the end of the previous month and if the Secretary hasn't received notice from the registrant of non-receipt of the list within five working days of when the list was distributed. Registrants notifying the Division of non-receipt will receive a new list within five working days of the notice of non-receipt.

Authors: Valeria Harman, Charles E. Grainger, Jr.

Ala. Admin. Code r. 820-4-2-.05

New Rule: January 10, 2001; effective February 14, 2001. Amended: Filed January 9, 2003; effective February 13, 2003.

Formerly Rules 820-X-5-.01 through 820-X-5-.10, as per certification filed January 10, 2001; effective February 14, 2001.

Statutory Authority:Code of Ala. 1975, §§ 7-9-307, 7-9-407.