70A-9a-511 - Secured party of record.
70A-9a-511. Secured party of record.
(1) A secured party of record with respect to a financing statement is a person whosename is provided as the name of the secured party or a representative of the secured party in aninitial financing statement that has been filed. If an initial financing statement is filed underSubsection 70A-9a-514(1), the assignee named in the initial financing statement is the securedparty of record with respect to the financing statement.
(2) If an amendment of a financing statement which provides the name of a person as asecured party or a representative of a secured party is filed, the person named in the amendmentis a secured party of record. If an amendment is filed under Subsection 70A-9a-514(2), theassignee 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 thefinancing statement which deletes the person.
Enacted by Chapter 252, 2000 General Session