Colorado Code
Part 5 - Filing
§ 4-9-518. Claim Concerning Inaccurate or Wrongfully Filed Record

(1) Identify the record to which it relates by:

(2) Indicate that it is an information statement; and

(1) Identify the record to which it relates by:
(A) The file number assigned to the initial financing statement to which the record relates; and
(B) If the information statement relates to a record filed or recorded in a filing office described in section 4-9-501 (a)(1), the date that the initial financing statement was filed or recorded;
(2) Indicate that it is an information statement; and
(3) Provide the basis for the person's belief that the person that filed the record was not entitled to do so under section 4-9-509 (d).

Source: L. 2001: Entire article R&RE, p. 1389, § 1, effective July 1. L. 2008: (a) amended and (d) added, p. 266, § 1, effective August 5. L. 2010: (a)(2) amended, (HB 10-1422), ch. 419, p. 2063, § 6, effective August 11. L. 2012: Entire section amended, (HB 12-1262), ch. 170, p. 603, § 14, effective July 1, 2013. L. 2013: (a)(2), (a)(3), and (f) repealed, (HB 13-1284), ch. 379, p. 2222, § 2, effective July 1.

Sometimes a person files a termination statement or other record relating to a filed financing statement without being entitled to do so. A secured party of record with respect to the financing statement who believes that such a record has been filed may, but need not, file an information statement indicating that the person that filed the record was not entitled to do so. See subsection (c). An information statement has no legal effect. Its sole purpose is to provide some limited public notice that the efficacy of a filed record is disputed. If the person that filed the record was not entitled to do so, the filed record is ineffective, regardless of whether the secured party of record files an information statement. Likewise, if the person that filed the record was entitled to do so, the filed record is effective, even if the secured party of record files an information statement. See Section 9-510(a), 9-518(e). Because an information statement filed under subsection (c) has no legal effect, a secured party of record -- even one who is aware of the unauthorized filing of a record -- has no duty to file one. Just as searchers bear the burden of determining whether the filing of initial financing statement was authorized, searchers bear the burden of determining whether the filing of every subsequent record was authorized.
Inasmuch as the filing of an information statement has no legal effect, this section does not provide a mechanism by which a secured party can correct an error that it discovers in its own financing statement.
This section does not displace other provisions of this Article that impose liability for making unauthorized filings or failing to file or send a termination statement (see Section 9-625(e)), nor does it displace any available judicial remedies.