(1) A filing office shall refuse to accept a record for filing for a reason set forth in KRS 355.9-516(2) and may refuse to accept a record for filing only for a reason set forth in KRS 355.9-516(2) or 355.9-518.
(2) If a filing office refuses to accept a record for filing, it shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it. The communication must be made at the time and in the manner prescribed by filing- office rule but in no event more than two (2) business days after the filing office receives the record.
(3) A filed financing statement satisfying KRS 355.9-502(1) and (2) is effective, even if the filing office is required to refuse to accept it for filing under subsection (1) of this section or refuses to accept for filing for a reason set forth in this section or KRS 355.9-518. However, KRS 355.9-338 applies to a filed financing statement providing information described in KRS 355.9-516(2)(e) which is incorrect at the time the financing statement is filed.
(4) If a record communicated to a filing office provides information that relates to more than one (1) debtor, this part of this article applies as to each debtor separately.