La. Admin. Code tit. 7 § XXXVII-105

Current through Register Vol. 50, No. 11, November 20, 2024

Section XXXVII-105 - Filing Procedures

A. Any person holding a security interest in a farm product may file security devices which are accompanied by a related EFS with the Central Registry. All security devices must be originals or a certified copy.

B. All effective financing statements must be submitted on Form CR-1 as prescribed by the commissioner.

C. All amendments, assignments, extensions and cancellations of an EFS must be submitted on Form CR-2 as prescribed by the commissioner.

D. All effective financing statements or amendments, assignments, extensions and cancellations of effective financing statements must be accompanied by the required fee unless approval for billing has been granted by the commissioner and completed in accordance with the instructions on the form.

E. The Central Registry will notify the secured party in writing at the address provided by the secured party of the time and date of filing of any EFS or an amendment, extension or cancellation of an EFS. In the case of assignments to an EFS, the Central Registry will notify the assignee at the address provided on the assignment form (CR-2).

F. Any EFS or amendment, assignment, extension or cancellation of a EFS that does not conform to all provisions of this Section will be rejected and returned to the secured party.

La. Admin. Code tit. 7, § XXXVII-105

Promulgated by the Department of Agriculture and Forestry, Office of Management and Finance, LR 12:826 (December 1986), amended LR 13:561 (October 1987), LR 15:1042 (December 1989).

AUTHORITY NOTE: Promulgated in accordance with R.S. 3:3652, R.S. 3:3654 and Public Law 99-198 (Food Security Act of 1985).