The filing officer shall take no action upon receipt of a notification, formal or informal, of a bankruptcy proceeding involving a debtor named in the UCC information management system. Financing statements lapse in the UCC information management system as scheduled unless properly continued.
Minn. R. agency 133, ch. 8280, FILING AND DATA ENTRY PROCEDURES, pt. 8280.0410
Statutory Authority: L 2000 c 399 art 1s 139