§ 49-04-19 — Security interests against transmitting utilities - Filing instruments with secretary of state

North Dakota § 49-04-19

• Jurisdiction: North Dakota
• Title 49: Public Utilities
• Ch. 49-04: Duties of Public Utilities

Text

secretary of state.
1. When used in this section, the term "transmitting utility" means persons, corporations,
limited liability companies, or other legal entities, and lessees, trustees and receivers,
now or hereafter operating, maintaining, or controlling in this state equipment or
facilities for the production, generation, transmission, or distribution of electric or
telecommunications services or the transmission or distribution of crude oil, gas,
petroleum products, steam, or water by pipeline.
2. a. Notwithstanding the provisions of section 41-09-30 and sections 41-09-72
through 41-09-97, all filings required under the Uniform Commercial Code in
order to perfect a security interest against the personal property or fixtures of a
debtor transmitting utility shall be made and maintained only in the office of the
secretary of state of North Dakota.
b. When the financing statement covers goods of a transmitting utility as herein
defined which are or are to become fixtures, no description of the real estate to
which such fixtures are or may become attached is required.
c. Filing of a financing statement against the property of a transmitting utility is
effective until five years after the maturity date contained therein in the case of
personal property and until fifteen years after the maturity date in the case of
fixtures annexed to real property, or if no maturity date is contained therein, until
released or terminated.
3. Unless displaced by the specific provisions of this section, the Uniform Commercial
Code and other applicable laws remain in full force and effect and supplement the
provisions of this section.