§ 25-9-706 – When initial financing statement suffices to continue effectiveness of financing statement.
25-9-706. When initial financing statement suffices to continue effectiveness of financing statement. (a) Initial financing statement in lieu of continuation statement. – The filing of an initial financing statement in the office specified in G.S. 25-9-501 continues the effectiveness of a financing statement filed before July 1, 2001 if: (1) The filing of an initial […]
§ 25-9-707 – Amendment of pre-effective-date financing statement.
25-9-707. Amendment of pre-effective-date financing statement. (a) "Pre-effective-date financing statement". – In this section, "pre-effective-date financing statement" means a financing statement filed before July 1, 2001. (b) Applicable law. – 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 […]
§ 25-9-708 – Persons entitled to file initial financing statement or continuation statement.
25-9-708. Persons entitled to file initial financing statement or continuation statement. A person may file an initial financing statement or a continuation statement under this Part if: (1) The secured party of record authorizes the filing; and (2) The filing is necessary under this Part: a. To continue the effectiveness of a financing statement filed […]
§ 25-9-709 – Priority.
25-9-709. Priority. (a) Law governing priority. – This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, former Article 9 determines priority. (b) Priority if security interest becomes enforceable under G.S. 25-9-203. – For purposes of G.S. 25-9-322(a), the priority of […]
§ 25-9-710 – Special transitional provision for maintaining and searching local-filing office records.
25-9-710. Special transitional provision for maintaining and searching local-filing office records. (a) In this section: (1) "Former-Article-9 records" means: a. Financing statements and other records that have been filed in the local-filing office before July 1, 2001, and that are, or upon processing and indexing will be, reflected in the index maintained, as of June […]
§ 25-9-702 – Savings clause.
25-9-702. Savings clause. (a) Pre-effective-date transactions or liens. – Except as otherwise provided in this Part, this act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2001. (b) Continuing validity. – Except as otherwise provided in subsection (c) of this […]
§ 25-9-703 – Security interest perfected before effective date.
25-9-703. Security interest perfected before effective date. (a) Continuing priority over lien creditor: perfection requirements satisfied. – 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 act if, […]
§ 25-9-704 – Security interest unperfected before effective date.
25-9-704. Security interest unperfected before effective date. A security interest that is enforceable immediately before July 1, 2001 but which 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 […]
§ 25-9-705 – Effectiveness of action taken before effective date.
25-9-705. Effectiveness of action taken before effective date. (a) Pre-effective-date action; one-year perfection period unless reperfected. – 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 […]
§ 25-9-624 – Waiver.
25-9-624. Waiver. (a) Waiver of disposition notification. – A debtor or secondary obligor may waive the right to notification of disposition of collateral under G.S. 25-9-611 only by an agreement to that effect entered into and authenticated after default. (b) Waiver of mandatory disposition. – A debtor may waive the right to require disposition of […]