Section 440.9609 – Secured Party’s Right to Take Possession After Default.
440.9609 Secured party’s right to take possession after default. Sec. 9609. (1) After default, a secured party may do 1 or more of the following: (a) Take possession of the collateral. (b) Without removal, render equipment unusable and dispose of collateral on a debtor’s premises under section 9610. (2) A secured party may proceed under […]
Section 440.9610 – Disposition of Collateral After Default.
440.9610 Disposition of collateral after default. Sec. 9610. (1) After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing. (2) Every aspect of a disposition of collateral, including the method, manner, time, place, and […]
Section 440.9524 – Delay by Filing Office.
440.9524 Delay by filing office. Sec. 9524. Delay by the filing office beyond a time limit prescribed by this part is excused if both of the following apply: (a) The delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing office. […]
Section 440.9525 – Fee for Filing and Indexing Record; Other Fees.
440.9525 Fee for filing and indexing record; other fees. Sec. 9525. (1) Except as otherwise provided in subsection (3) or (4), the fee for filing and indexing a record under this part is $15.00. (2) A filing office shall charge a person a fee for responding to a request for a search of the records […]
Section 440.9526 – Filing-Office Rules.
440.9526 Filing-office rules. Sec. 9526. (1) The secretary of state shall adopt and publish rules to implement this article. The filing-office rules must be consistent with this article and adopted and published in accordance with the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328. (2) To keep the filing-office rules and […]
Section 440.9527 – Repealed. 2008, Act 383, Eff. Mar. 29, 2009.
440.9527 Repealed. 2008, Act 383, Eff. Mar. 29, 2009. Compiler’s Notes: The repealed section pertained to submission of report by secretary of state on the operation of the filing office.
Section 440.9518 – Information Statement Concerning Inaccurate or Wrongfully Filed Record.
440.9518 Information statement concerning inaccurate or wrongfully filed record. Sec. 9518. (1) 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. (2) An information statement under subsection (1) must […]
Section 440.9519 – Numbering, Maintaining, and Indexing Records; Communicating Information Provided in Records.
440.9519 Numbering, maintaining, and indexing records; communicating information provided in records. Sec. 9519. (1) For each record filed in a filing office, the filing office shall do all of the following: (a) Assign a unique number to the filed record. (b) Create a record that bears the number assigned to the filed record and the […]
Section 440.9520 – Acceptance and Refusal to Accept Record; Wrongful Filing; Action to Require Secretary of State to Accept Record; Personal Liability; Filing by Regulated Financial Institution.
440.9520 Acceptance and refusal to accept record; wrongful filing; action to require secretary of state to accept record; personal liability; filing by regulated financial institution. Sec. 9520. (1) A filing office shall refuse to accept a record for filing for a reason set forth in section 9516(2) or, if the filing office is the secretary […]
Section 440.9521 – Form and Format of Written Initial Financing Statement and Amendment.
440.9521 Form and format of written initial financing statement and amendment. Sec. 9521. (1) Except for a reason set forth in section 9516(2) or 9520(5), a filing office that accepts written records for filing shall not refuse to accept a written initial financing statement that conforms to the form and format of UCC financing statement […]