70A-9a-509. Persons entitled to file a record.
- (1) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if:
- (a) the debtor authorizes the filing in an authenticated record or pursuant to Subsection (2) or (3); or
- (b) the person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.
- (2) By authenticating or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering:
- (a) the collateral described in the security agreement; and
- (b) property that becomes collateral under Subsection 70A-9a-315(1)(b), whether or not the security agreement expressly covers proceeds.
- (3) By acquiring collateral in which a security interest or agricultural lien continues under Subsection 70A-9a-315(1)(a), a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under Subsection 70A-9a-315(1)(b).
- (4) A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if:
- (a) the secured party of record authorizes the filing; or
- (b) the amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by Subsection 70A-9a-513(1) or (3), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.
- (5) If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under Subsection (4).
Enacted by Chapter 252, 2000 General Session