§ 41-09-28 — (9-308) When security interest or agricultural lien is perfected - Continuity of perfection

North Dakota § 41-09-28

• Jurisdiction: North Dakota
• Title 41: Uniform Commercial Code
• Ch. 41-09: Secured Transactions

Text

perfection.
1. Except as otherwise provided in this section and section 41-09-29, a security interest
is perfected if it has attached and all of the applicable requirements for perfection in
sections 41-09-30 through 41-09-36 have been satisfied. A security interest is
perfected when it attaches if the applicable requirements are satisfied before the
security interest attaches.
2. An agricultural lien is perfected if it has become effective and all of the applicable
requirements for perfection in section 41-09-30 have been satisfied. An agricultural lien
is perfected when it becomes effective if the applicable requirements are satisfied
before the agricultural lien becomes effective.
3. A security interest or agricultural lien is perfected continuously if it is originally
perfected by one method under this chapter and is later perfected by another method
under this chapter, without an intermediate period when it was unperfected.
4. Perfection of a security interest in collateral also perfects a security interest in a
supporting obligation for the collateral.
5. Perfection of a security interest in a right to payment or performance also perfects a
security interest in a security interest, mortgage, or other lien on personal or real
property securing the right.
6. Perfection of a security interest in a securities account also perfects a security interest
in the security entitlements carried in the securities account.
7. Perfection of a security interest in a commodity account also perfects a security
interest in the commodity contracts carried in the commodity account.