§ 25-9-604 – Procedure if security agreement covers real property or fixtures.
25-9-604. Procedure if security agreement covers real property or fixtures. (a) Enforcement: personal and real property. – If a security agreement covers both personal and real property, a secured party may proceed: (1) Under this Part as to the personal property without prejudicing any rights with respect to the real property; or (2) As to […]
§ 25-9-605 – Unknown debtor or secondary obligor.
25-9-605. Unknown debtor or secondary obligor. A secured party does not owe a duty based on its status as secured party: (1) To a person that is a debtor or obligor, unless the secured party knows: a. That the person is a debtor or obligor; b. The identity of the person; and c. How to […]
§ 25-9-606 – Time of default for agricultural lien.
25-9-606. Time of default for agricultural lien. For purposes of this Part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created. (2000-169, s. 1.)
§ 25-9-607 – Collection and enforcement by secured party.
25-9-607. Collection and enforcement by secured party. (a) Collection and enforcement generally. – If so agreed, and in any event after default, a secured party: (1) May notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party; (2) May […]
§ 25-9-608 – Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.
25-9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus. (a) Application of proceeds, surplus, and deficiency if obligation secured. – If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) A secured party shall apply or pay over for application […]
§ 25-9-520 – Acceptance, refusal to accept record, and cancellation of record.
25-9-520. Acceptance, refusal to accept record, and cancellation of record. (a) Mandatory refusal to accept record. – A filing office shall refuse to accept a record for filing for a reason set forth in G.S. 25-9-516(b) and may refuse to accept a record for filing only for a reason set forth in G.S. 25-9-516(b). (b) […]
§ 25-9-521 – Uniform form of written financing statement and amendment.
25-9-521. Uniform form of written financing statement and amendment. (a) Initial financing statement form. – A filing office that accepts written records may not refuse to accept a written initial financing statement in the following form and format except for a reason set forth in G.S. 25-9-516(b): UCC FINANCING STATEMENT (Form UCC1) (Rev. 04-20-11) (b) […]
§ 25-9-522 – Maintenance and destruction of records.
25-9-522. Maintenance and destruction of records. (a) Post-lapse maintenance and retrieval of information. – The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under G.S. 25-9-515 with respect to all secured parties of record. […]
§ 25-9-523 – Information from filing office.
25-9-523. Information from filing office. (a) Acknowledgment of filing written record. – If a person that files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image of the record showing the number assigned to the record pursuant to G.S. 25-9-519(a)(1) and the date and time […]
§ 25-9-524 – Delay by filing office.
25-9-524. Delay by filing office. Delay by the filing office beyond a time limit prescribed by this Part is excused if: (1) 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; and (2) The filing office exercises reasonable […]