41-09-80. (9-509) Persons entitled to file a record.
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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 a signed 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 signing 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 subdivision b of subsection 1 of section
41-09-35, regardless of whether the security agreement expressly covers
proceeds. 3. By acquiring collateral in which a security interest or agricultural lien continues under
subdivision a of subsection 1 of section 41-09-35, a debtor authorizes the filing of an
initial financing statement, and an amendment, covering the collateral and property
that becomes collateral under subdivision b of subsection 1 of section 41-09-35. 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 under section 41-09-84, the debtor authorizes the filing, and the
termination statement indicates that the debtor authorized it to be filed. The filing
office shall notify the secured party of a filing under this subsection. 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.
41-09-81. (9-510) Effectiveness of filed record. 1. A filed record is effective only to the extent that it was filed by a person that may file it
under section 41-09-80. 2. A record authorized by one secured party of record does not affect the financing
statement with respect to another secured party of record. 3. A continuation statement that is not filed within the six-month period prescribed by
subsection 4 of section 41-09-86 is ineffective.
41-09-82. (9-511) Secured party of record. 1. 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 subsection 1 of section 41-09-85, the assignee named in the
initial financing statement is the secured party of record with respect to the financing
statement. 2. 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 subsection 2
of section 41-09-85, the assignee named in the amendment is a secured party of
record. 3. A person remains a secured party of record until the filing of an amendment of the
financing statement which deletes the person.
41-09-83. (9-512) Amendment of financing statement. 1. Subject to section 41-09-80, a person may add or delete collateral covered by,
continue or terminate the effectiveness of, or, subject to subsection 5, otherwise
amend the information provided in, a financing statement by filing an amendment that:
a. Identifies, by its file number, the initial financing statement to which the
amendment relates; and
b. If the amendment relates to an initial financing statement filed or recorded in a
filing office described in subdivision a of subsection 1 of section 41-09-72,
provides the information specified in subsection 2 of section 41-09-73.
2. Except as otherwise provided in section 41-09-86, the filing of an amendment does not
extend the period of effectiveness of the financing statement. 3. A financing statement that is amended by an amendment that adds collateral is
effective as to the added collateral only from the date of the filing of the amendment. 4. A financing statement that is amended by an amendment that adds a debtor is
effective as to the added debtor only from the date of the filing of the amendment. 5. An amendment is ineffective to the extent it:
a. Purports to delete all debtors and fails to provide the name of a debtor to be
covered by the financing statement; or
b. Purports to delete all secured parties of record and fails to provide the name of a
new secured party of record.
41-09-84. (9-513) Termination statement - Remedies - Fees. 1. If a financing statement covering consumer goods is filed after December 31, 1973,
then within one month or within ten days following written demand by the debtor after
there is no outstanding secured obligation and no commitment to make advances,
incur obligations, or otherwise give value, the secured party shall file electronically in
the central indexing system, a termination statement to the effect that the secured
party no longer claims a security interest under the financing statement, which must be
identified by file number. In other cases when there is no outstanding secured
obligation and no written commitment between the secured party and the debtor to
make advances, incur obligations, or otherwise give value, the secured party, unless
requested by the debtor in writing to continue the filing, shall file electronically a
termination statement to the effect that the secured party no longer claims a security
interest under the financing statement nor under the central notice system, which shall
be identified by file number. If the affected secured party fails to file a termination
statement as required by this subsection within sixty days of when the secured
obligation is fully satisfied, and the debtor has not requested in writing that the filing be
continued, then under section 41-09-120 the secured party is liable to the debtor for
one hundred dollars and for any loss caused to the debtor by such failure. The debtor's
written request for a filing to be continued may be made at any time and be effective
under this section. If the affected secured party fails to file a termination statement
within ten days after proper written demand by the debtor, then under section
41-09-120 the secured party is liable to the debtor for one hundred dollars and for any
loss caused to the debtor by such failure. 2. Except as otherwise provided in section 41-09-81, upon the filing of a termination
statement, the financing statement to which the termination statement relates ceases
to be effective. Except as provided in section 41-09-81, for purposes of subsection 7 of
section 41-09-90, subsection 1 of section 41-09-93, and subsection 2 of section
41-09-94, the electronic filing of a termination statement relating to a financing
statement that indicates that the debtor is a transmitting utility also causes the
effectiveness of the financing statement to lapse. 3. The fee for filing and indexing a termination statement is included in the fee for filing
the financing statement.
41-09-85. (9-514) Assignment of powers of secured party of record. 1. Except as otherwise provided in subsection 3, an initial financing statement may reflect
an assignment of all of the secured party's power to authorize an amendment to the
financing statement by providing the name and mailing address of the assignee as the
name and address of the secured party. 2. Except as otherwise provided in subsection 3, a secured party of record may assign of
record all or part of its power to authorize an amendment to a financing statement by
filing in the filing office an amendment of the financing statement which:
a. Identifies, by its file number, the initial financing statement to which it relates;
b. Provides the name of the assignor; and
c. Provides the name and mailing address of the assignee.
3. An assignment of record of a security interest in a fixture covered by a record of a
mortgage which is effective as a financing statement filed as a fixture filing under
subsection 3 of section 41-09-73 may be made only by an assignment of record of the
mortgage in the manner provided by law of this state other than this title.