70A-9a-511. Secured party of record.

170 words·~1 min read·/ut/title-70a/chapter-9a/70a-9a-511

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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 70A-9a-514(1) , 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 70A-9a-514(2) , 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.

Enacted by Chapter 252 , 2000 General Session