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Title XXVI TRADE AND COMMERCE

Chapter 400

previous next Effective - 01 Jul 2001, see footnotebottom

  400.9-511.  Secured party of record. — (a)  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 filed under section 400.9-514(a), the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.

  (b)  If an amendment of a financing statement which provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record.  If an amendment is filed under section 400.9-514(b), the assignee named in the amendment is a secured party of record.

  (c)  A person remains a secured party of record until the filing of an amendment of the financing statement which deletes the person.

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(L. 2001 S.B. 288)

Effective 7-01-01


---- end of effective   01 Jul 2001 ----

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