§ 47-9703 – Security interest perfected before effective date
47-9703. Security interest perfected before effective date A. A security interest that is enforceable immediately before July 1, 2001 and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this chapter, as added in 1999, if, on July 1, 2001, the […]
§ 47-9704 – Security interest unperfected before effective date
47-9704. Security interest unperfected before effective date A security interest that is enforceable immediately before July 1, 2001 but that would be subordinate to the rights of a person that becomes a lien creditor at that time: 1. Remains an enforceable security interest for one year after July 1, 2001; 2. Remains enforceable thereafter if […]
§ 47-9617 – Rights of transferee of collateral
47-9617. Rights of transferee of collateral A. A secured party’s disposition of collateral after default: 1. Transfers to a transferee for value all of the debtor’s rights in the collateral; 2. Discharges the security interest under which the disposition is made; and 3. Discharges any subordinate security interest or other subordinate lien. B. A transferee […]
§ 47-9705 – Effectiveness of action taken before effective date
47-9705. Effectiveness of action taken before effective date A. If action, other than the filing of a financing statement, is taken before July 1, 2001 and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien creditor had the security interest become enforceable before […]
§ 47-9618 – Rights and duties of certain secondary obligors
47-9618. Rights and duties of certain secondary obligors A. A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: 1. Receives an assignment of a secured obligation from the secured party; 2. Receives a transfer of collateral from the secured party and agrees to […]
§ 47-9706 – When initial financing statement suffices as continuation statement
47-9706. When initial financing statement suffices as continuation statement A. The filing of an initial financing statement in the office specified in section 47-9501 continues the effectiveness of a financing statement filed before July 1, 2001 if: 1. The filing of an initial financing statement in that office would be effective to perfect a security […]
§ 47-9619 – Transfer of record or legal title; definition
47-9619. Transfer of record or legal title; definition A. In this section, " transfer statement" means a record authenticated by a secured party and stating: 1. That the debtor has defaulted in connection with an obligation secured by specified collateral; 2. That the secured party has exercised its postdefault remedies with respect to the collateral; […]
§ 47-9707 – Amendment of pre-effective-date financing statement; definition
47-9707. Amendment of pre-effective-date financing statement; definition A. In this section, " pre-effective-date financing statement" means a financing statement filed before July 1, 2001. B. After July 1, 2001, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement […]
§ 47-9620 – Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral
47-9620. Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral A. Except as otherwise provided in subsection G of this section, a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if: 1. The debtor consents to the acceptance under subsection C of […]
§ 47-9708 – Persons entitled to file initial financing statement or continuation statement
47-9708. Persons entitled to file initial financing statement or continuation statement A person may file an initial financing statement or a continuation statement under this article if: 1. The secured party of record authorizes the filing; and 2. The filing is necessary under this article: (a) To continue the effectiveness of a financing statement filed […]