Section 55-9-513 – Termination statement.
(a) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and: (1) there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an […]
Section 55-9-514 – Assignment of powers of secured party of record.
(a) Except as otherwise provided in Subsection (c) of this section, an initial financing statement may reflect an assignment of all of the secured party’s power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party. (b) Except […]
Section 55-9-515 – Duration and effectiveness of financing statement; effect of lapsed financing statement.
(a) Except as otherwise provided in Subsections (b), (e), (f) and (g) of this section, a filed financing statement is effective for a period of five years after the date of filing. (b) Except as otherwise provided in Subsections (e), (f) and (g) of this section, an initial financing statement filed in connection with a […]
Section 55-9-516 – What constitutes filing; effectiveness of filing.
(a) Except as otherwise provided in Subsection (b) of this section, communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing. (b) Filing does not occur with respect to a record that the secretary of state refuses to accept because: […]
Section 55-9-517 – Effect of indexing errors.
The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record. History: 1978 Comp., § 55-9-517, enacted by Laws 2001, ch. 139, § 88. ANNOTATIONS OFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights […]
Section 55-9-518 – Claim concerning inaccurate or wrongfully filed record.
(a) A person may file in the filing office an information statement with respect to a record indexed there under the person’s name if the person believes that the record is inaccurate or was wrongfully filed. (b) An information statement under Subsection (a) of this section must: (1) identify the record to which it relates […]
Section 55-9-519 – Numbering, maintaining and indexing records; communicating information provided in records.
(a) For each record filed in a filing office, the filing office shall: (1) assign a unique number to the filed record; (2) create a record that bears the number assigned to the filed record and the date and time of filing; and (3) maintain the filed record for public inspection. (b) The filing office […]
Section 55-9-501 – Filing office.
(a) Except as otherwise provided in Subsection (b) of this section, if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is: (1) the office of the county clerk where a record […]
Section 55-9-502 – Contents of financing statement; record of mortgage as financing statement; time of filing financing statement.
(a) Subject to Subsection (b) of this section, a financing statement is sufficient only if it: (1) provides the name of the debtor; (2) provides the name of the secured party or a representative of the secured party; and (3) indicates the collateral covered by the financing statement. (b) Except as otherwise provided in Subsection […]
Section 55-9-409 – Restrictions on assignment of letter-of-credit rights ineffective.
(a) A term in a letter of credit or a rule of law, statute, regulation, custom or practice applicable to the letter of credit which prohibits, restricts or requires the consent of an applicant, issuer or nominated person to a beneficiary’s assignment of or creation of a security interest in a letter-of-credit right is ineffective […]