How to avoid a “seriously misleading” filing

As a business owner, you may have some experience poking around the Minnesota Secretary of State’s website. You might have been searching for the relevant forms on corporate status, financing statements, or the numerous other filings. Keeping up with the nuances of these forms can be frustrating because you would rather spend your time perfecting your product or service. A commonly overlooked wrinkle to filing security interests in Minnesota was passed by the legislature back in 2011. The purpose of the new language was to create more certainty when trying to ascertain who holds a security interest in collateral when the debtor is an...