Section 440.9505 – Filing and Compliance With Other Statutes and Treaties for Consignments, Leases, Other Bailments, and Other Transactions.
440.9505 Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions. Sec. 9505. (1) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in […]
Section 440.9506 – Effect of Errors or Omissions.
440.9506 Effect of errors or omissions. Sec. 9506. (1) A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading. (2) Except as otherwise provided in subsection (3), a financing statement that fails sufficiently to […]
Section 440.9507 – Effect of Certain Events on Effectiveness of Financing Statement.
440.9507 Effect of certain events on effectiveness of financing statement. Sec. 9507. (1) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition. […]
Section 440.9501 – Filing Office.
440.9501 Filing office. Sec. 9501. (1) Except as otherwise provided in subsection (2), the office in which to file a financing statement to perfect the security interest or agricultural lien is 1 of the following: (a) The office designated for the filing or recording of a record of a mortgage on the related real property, […]
Section 440.9501a – Fraudulent Financing Statement; Affidavit; Form; Notice; Termination of Financing Statement; Filing Fee; Notice of Termination; Action to Reinstate Financing Statement; Court Order; Payment of Costs and Expenses; Violation as Felony; Penalty; “Regulated Financial Institution” Defined.
440.9501a Fraudulent financing statement; affidavit; form; notice; termination of financing statement; filing fee; notice of termination; action to reinstate financing statement; court order; payment of costs and expenses; violation as felony; penalty; “regulated financial institution” defined. Sec. 9501a. (1) A person identified as a debtor in a financing statement filed with the secretary of state […]
Section 440.9502 – Contents of Financing Statement; Record of Mortgage as Financing Statement; Time of Filing Financing Statement.
440.9502 Contents of financing statement; record of mortgage as financing statement; time of filing financing statement. Sec. 9502. (1) Subject to subsection (2), a financing statement is sufficient only if it does all of the following: (a) Provides the name of the debtor. (b) Provides the name of the secured party or a representative of […]
Section 440.9503 – Name of Debtor and Secured Party; “Name of the Settlor or Testator” Defined.
440.9503 Name of debtor and secured party; “name of the settlor or testator” defined. Sec. 9503. (1) A financing statement sufficiently provides the name of the debtor if it meets all of the following that apply to the debtor: (a) Except as otherwise provided in subdivision (c), if the debtor is a registered organization or […]
Section 440.9504 – Indication of Collateral.
440.9504 Indication of collateral. Sec. 9504. A financing statement sufficiently indicates the collateral that it covers if the financing statement provides 1 of the following: (a) A description of the collateral pursuant to section 9108. (b) An indication that the financing statement covers all assets or all personal property. History: 1962, Act 174, Eff. Jan. […]