§ 26-1-9.1-502 — Contents of financing statement; record of mortgage as financing statement; time of filing financing statement

Indiana § 26-1-9.1-502

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 9.1: Secured Transactions

Text

(a) Subject to subsection (b), a financing
statement is sufficient only if it:
(1) provides the name of the debtor;
(2) provides the name of the secured party or a representative of
the secured party; and
(3) indicates the collateral covered by the financing statement.
(b) Except as otherwise provided in IC 26-1-9.1-501(b), 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 (a) and also:
(1) indicate that it covers this type of collateral;
(2) indicate that it is to be filed in the real property records;
(3) provide a description of the real property to which the
collateral is related that is 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
(4) if the debtor does not have an interest of record in the real
property, provide the name of a record owner.
(c) 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:
(1) the record indicates the goods or accounts that it covers;
(2) 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;
(3) the record satisfies the requirements for a financing statement
in this section, but:
(A) the record need not indicate that it is to be filed in the real
property records; and
(B) 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 IC 26-1-9.1-503(a)(4) applies;
and
(4) the record is recorded.
(d) A financing statement may be filed before a security agreement
is made or a security interest otherwise attaches.
(e) To the extent that IC 36-2-11-15 applies to require the
identification of the preparer of a financing statement, the failure of the
financing statement to identify the preparer does not affect the
sufficiency of the financing statement.

Legislative History

As added by P.L.57-2000, SEC.45. Amended by P.L.165-2001, SEC.12; P.L.54-2011, SEC.12; P.L.158-2022, SEC.11.