§ 9-514 — Assignment of Powers of Secured Party of Record

Section 9--514. Assignment of Powers of Secured Party of Record.\n (a) Assignment reflected on initial financing statement. Except as\notherwise provided in subsection (c), an initial financing statement may\nreflect an assignment of all of the secured party's power to authorize\nan amendment to the financing statement by providing the name and\nmailing address of the assignee as the name and address of the secured\nparty.\n (b) Assignment of filed financing statement. Except as otherwise\nprovided in subsection (c), a secured party of record may assign of\nrecord all or part of its power to authorize an amendment to a financing\nstatement by filing in the filing office an amendment of the financing\nstatement which:\n (1) identifies, by its file number, the initial financing\n statement to which it relates;\n (2) provides the name of the assignor; and\n (3) provides the name and mailing address of the assignee.\n (c) Assignment of record of mortgage. An assignment of record of a\nsecurity interest in a fixture covered by a record of a mortgage which\nis effective as a financing statement filed as a fixture filing under\nSection 9--502(c) may be made only by an assignment of record of the\nmortgage in the manner provided by law of this state other than this\nchapter.\n