§ 554.9502 — Contents of financing statement — record of mortgage as financing statement — time of filing financing statement

Iowa § 554.9502

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 554: UNIFORM COMMERCIAL CODE

Text

— time of filing financing statement.
1. Sufficiency of financing statement. Subject to subsection 2, a financing statement is
sufficient only if it:
a. provides the name of the debtor;
b. provides the name of the secured party or a representative of the secured party; and
c. indicates the collateral covered by the financing statement.
2. Real-property-related financing statements. Except as otherwise provided in section
554.9501, subsection 2, 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. Record of mortgage as financing statement. 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; and

(2) the record sufficiently provides the name of a debtor who is an individual if it 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 section 554.9503, subsection 1, paragraph “d” applies;
and
d. the record is duly recorded.
4. Filing before security agreement or attachment. A financing statement may be filed
before a security agreement is made or a security interest otherwise attaches.