41-09-73. (9-502) Contents of financing statement - Record of mortgage as financing
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statement - Time of filing financing statement - Amending financing statement.
1. Subject to subsection 2, a financing statement is sufficient only if the statement:
a. Provides the name of the debtor;
b. Provides the name of the secured party or a representative of the secured party;
c. Indicates the collateral covered by the financing statement; and
d. If it is a financing statement that is to be filed to gain protection under the central
notice system, includes a reasonable description of the property, including the
county in which the property is located, and any other additional information
required by the Food Security Act of 1985 [Pub. L. 99-198; Stat. 1535; 7 U.S.C.
1631], as prescribed by the secretary of state, and, to be sufficient a financing
statement must include the name and address of the secured party; and unless
electronically filed, the signatures of the debtor and secured parties.
2. Except as otherwise provided in subsection 2 of section 41-09-72, to be sufficient, a
financing statement that covers as-extracted collateral or timber to be cut, or which is
filed as a fixture filing and covers goods that are or are to become fixtures, must satisfy
subsection 1 and also:
a. Indicate that it covers this type of collateral;
b. Indicate that it is to be filed for record in the real property records;
c. Provide a description of the real property to which the collateral is related
sufficient to give constructive notice of a mortgage under the law of this state if
the description were contained in a record of the mortgage of the real property;
and
d. If the debtor does not have an interest of record in the real property, provide the
name of a record owner.
3. A record of a mortgage is effective, from the date of recording, as a financing
statement filed as a fixture filing or as a financing statement covering as-extracted
collateral or timber to be cut only if:
a. The record indicates the goods or accounts that it covers;
b. The goods are or are to become fixtures related to the real property described in
the record or the collateral is related to the real property described in the record
and is as-extracted collateral or timber to be cut;
c. The record satisfies the requirements for a financing statement in this section,
but:
(1)The record need not indicate that it is to be filed in the real property records;
(2)The record sufficiently provides the name of a debtor who is an individual if
the record provides the individual name of the debtor or the surname and
first personal name of the debtor, even if the debtor is an individual to whom
subdivision d of subsection 1 of section 41-09-74 applies; and
(3)The mortgage may not include a social security number or internal revenue
service taxpayer identification number; and
d. The record is duly recorded.
4. A financing statement may be filed before a security agreement is made or a security
interest otherwise attaches.
5. A financing statement filed to gain protection under the central notice system must be
amended within three months of a material change to reflect that change. The
amended financing statement must be signed by both the debtor and secured party
and filed in the same manner as the original financing statement. An electronically filed
amendment does not need to be signed.
6. a. Any social security number or internal revenue service taxpayer identification
number submitted on a financing statement filed pursuant to this chapter as a
central indexing filing is an exempt record as defined by subsection 5 of section
44-04-17.1 and may not be disclosed as part of any search under
section 41-09-94 or 41-09-96 or as part of a copy of the record. A filing office or
an officer or employee of the filing office may not be held civilly or criminally liable
for the inadvertent disclosure of a social security or internal revenue service
taxpayer identification number if the filer has placed the number in an improper
field on the form prescribed by the secretary of state or the filer submitted a filing
other than on the form prescribed by the secretary of state.
b. A debtor's social security number or internal revenue service taxpayer
identification number may not be recorded in the real property records as
provided for under section 11-18-23.2.
41-09-74. (9-503) Name of debtor and secured party. 1. A financing statement sufficiently provides the name of the debtor:
a. Except as otherwise provided in subdivision c, if the debtor is a registered
organization, or the collateral is held in a trust that is a registered organization,
only if the financing statement provides the name that is stated to be the
registered organization's name on the public organic record most recently filed
with or issued or enacted by the registered organization's jurisdiction of
organization which purports to state, amend, or restate the registered
organization's name;
b. Subject to subsection 6, if the collateral is being administered by the personal
representative of a decedent, only if the financing statement provides, as the
name of the debtor, the name of the decedent and, in a separate part of the
financing statement, indicates that the collateral is being administered by a
personal representative;
c. If the collateral is held in a trust that is not a registered organization, only if the
financing statement:
(1)Provides, as the name of the debtor:
(a)If the organic record of the trust specifies a name for the trust, the
name so specified; or
(b)If the organic record of the trust does not specify a name for the trust,
the name of the settlor or testator; and
(2)In a separate part of the financing statement:
(a)If the name is provided in accordance with subparagraph a of
paragraph 1, indicates that the collateral is held in a trust; or
(b)If the name is provided in accordance with subparagraph b of
paragraph 1, provides additional information sufficient to distinguish
the trust from other trusts having one or more of the same settlors or
the same testator and indicates that the collateral is held in a trust,
unless the additional information so indicates;
d. Subject to subsection 7, if the debtor is an individual to whom this state has
issued a driver's license or identity card that has not expired, only if the financing
statement provides the name of the individual which is indicated on the driver's
license or identity card;
e. If the debtor is an individual to whom subdivision d does not apply, only if the
financing statement provides the individual name of the debtor or the surname
and first personal name of the debtor; and
f. In other cases:
(1)If the debtor has a name, only if the financing statement provides the
organizational name of the debtor; and
(2)If the debtor does not have a name, only if the financing statement provides
the names of the partners, members, associates, or other persons
comprising the debtor, in a manner that each name provided would be
sufficient if the person named were the debtor. 2. A financing statement that provides the name of the debtor in accordance with
subsection 1 is not rendered ineffective by the absence of:
a. A trade name or other name of the debtor; or
b. Unless required under paragraph 2 of subdivision f of subsection 1, names of
partners, members, associates, or other persons comprising the debtor.
3. A financing statement that provides only the debtor's trade name does not sufficiently
provide the name of the debtor.
4. Failure to indicate the representative capacity of a secured party or representative of a
secured party does not affect the sufficiency of a financing statement.
5. A financing statement may provide the name of more than one debtor and the name of
more than one secured party.
6. The name of the decedent indicated on the order appointing the personal
representative of the decedent issued by the court having jurisdiction over the
collateral is sufficient as the "name of the decedent" under subdivision b of
subsection 1.
7. If this state has issued to an individual more than one driver's license or identity card of
a kind described in subdivision d of subsection 1, the one that was issued most
recently is the one to which subdivision d of subsection 1 refers.
8. The "name of the settlor or testator" means:
a. If the settlor is a registered organization, the name of the registered organization
indicated on the public organic record filed with or issued or enacted by the
registered organization's jurisdiction of organization; or
b. In other cases, the name of the settlor or testator indicated in the trust's organic
record.