§ 4-9-514 — Assignment of powers of secured party of record

(a) Except as
otherwise provided in subsection (c) of this section, 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.

(b) Except as otherwise provided in subsection (c) of this section, 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 that:

(1) Identifies, by its file number, the initial financing statement to which it
relates;

(1.5) Provides the date that the initial financing statement was filed or
recorded;

(2) Provides the name of the assignor; and

(3) Provides the name and mailing address of the assignee.

(c) 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 section 4-9-502 (c) 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.

(d) An assignment that was filed in accordance with this section prior to
August 5, 2009, and that is on file in the filing office as of August 5, 2009, whether
or not it provides the date that the initial financing statement was filed or recorded,
shall be deemed to have been filed pursuant to and in accordance with this section
as amended and shall have the same effect as if filed pursuant to this section as
amended.

Legislative History

Source: L. 2001: Entire article R&RE, p. 1386, � 1, effective July 1. L. 2009: IP(b) and (b)(2) amended and (b)(1.5) and (d) added, (SB 09-084), ch. 141, p. 602, �� 1, 2, effective August 5.