Section 440.9511 – Secured Party of Record.
440.9511 Secured party of record. Sec. 9511. (1) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is […]
Section 440.9512 – Amendment of Financing Statement.
440.9512 Amendment of financing statement. Sec. 9512. (1) Subject to section 9509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (5), otherwise amend the information provided in, a financing statement by filing an amendment that does both of the following: (a) Identifies, by its […]
Section 440.9409 – Restrictions on Assignment of Letter-of-Credit Rights Ineffective.
440.9409 Restrictions on assignment of letter-of-credit rights ineffective. Sec. 9409. (1) A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit that prohibits, restricts, or requires the consent of an applicant, issuer, or nominated person to a beneficiary’s assignment of or creation […]
Section 440.9410 – Repealed. 2000, Act 348, Eff. July 1, 2001.
440.9410 Repealed. 2000, Act 348, Eff. July 1, 2001. Compiler’s Notes: The repealed section pertained to establishment of subscription service.
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. […]
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 […]