North Dakota § 41-09-34.1 (9-314A) Perfection by possession and control of chattel paper

North Dakota Statutes

§ 41-09-34.1 — (9-314A) Perfection by possession and control of chattel paper

North Dakota § 41-09-34.1

Title 41Uniform Commercial Code

Ch. 41-09Secured Transactions

This text of North Dakota § 41-09-34.1 ((9-314A) Perfection by possession and control of chattel paper) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 41-09-34.1 (2026).

Text

1.A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritative electronic copy of the electronic record evidencing the chattel paper.

2.A security interest is perfected under subsection 1 not earlier than the time the secured party takes possession and obtains control and remains perfected under subsection 1 only while the secured party retains possession and control.

3.Subsections 3 and 6 through 9 of section 41-09-33 applies to perfection by possession of an authoritative tangible copy of a record evidencing chattel paper.

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1. A secured party may perfect a security interest in chattel paper by taking possession of
each authoritative tangible copy of the record evidencing the chattel paper and
obtaining control of each authoritative electronic copy of the electronic record
evidencing the chattel paper.
2. A security interest is perfected under subsection 1 not earlier than the time the secured
party takes possession and obtains control and remains perfected under subsection 1
only while the secured party retains possession and control.
3. Subsections 3 and 6 through 9 of section 41-09-33 applies to perfection by possession
of an authoritative tangible copy of a record evidencing chattel paper.