§ 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 […]
§ 25-9-627 – Determination of whether conduct was commercially reasonable.
25-9-627. Determination of whether conduct was commercially reasonable. (a) Greater amount obtainable under other circumstances; no preclusion of commercial reasonableness. – The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is […]
§ 25-9-628 – Nonliability and limitation on liability of secured party; liability of secondary obligor.
25-9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor. (a) Limitation of liability of secured party for noncompliance with Article. – Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person: (1) The secured […]
§ 25-9-701 – Effective date.
25-9-701. Effective date. This act takes effect on July 1, 2001. References in this Part to "this act" refer to PARTS I, II, and III of the session law by which this Part is added to Article 9 of Chapter 25 of the General Statutes. References in this Part to "former Article 9" are to […]
§ 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, […]