North Dakota § 41-09-85 (9-514) Assignment of powers of secured party of record

North Dakota Statutes

§ 41-09-85 — (9-514) Assignment of powers of secured party of record

North Dakota § 41-09-85

Title 41Uniform Commercial Code

Ch. 41-09Secured Transactions

This text of North Dakota § 41-09-85 ((9-514) Assignment of powers of secured party of record) 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 § 41-09-85 (2026).

Text

1.Except as otherwise provided in subsection 3, 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.

2.Except as otherwise provided in subsection 3, 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 which:

a.Identifies, by its file number, the initial financing statement to which it relates;

b.Provides the name of the assignor; and

c.Provides the name and mailing address of the assignee.

3.An assignment of record of a security interest in a fixture

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1. Except as otherwise provided in subsection 3, 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.
2. Except as otherwise provided in subsection 3, 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 which:
a. Identifies, by its file number, the initial financing statement to which it relates;
b. Provides the name of the assignor; and
c. Provides the name and mailing address of the assignee.

3. 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
subsection 3 of section 41-09-73 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.