TITLE 6A

Uniform Commercial Code

CHAPTER 6A-9

Secured Transactions

PART 6A-9-501

Filing

SECTION 6A-9-502



   § 6A-9-502  Contents of financing

statement; record of mortgage as financing statement; time of filing financing

statement. –

(a) Sufficiency of financing statement. Subject to subsection (b), a

financing statement is sufficient only if it:



   (1) Provides the name of the debtor;



   (2) Provides the name of the secured party or a

representative of the secured party; and



   (3) Indicates the collateral covered by the financing

statement.



   (b) Real-property-related financing statements. Except

as otherwise provided in § 6A-9-501(b), to be sufficient, a financing

statement that covers as-extracted collateral or timber to be cut, or which is

filed as a fixture filing and covers goods that are or are to become fixtures,

must satisfy subsection (a) and also:



   (1) Indicate that it covers this type of collateral;



   (2) Indicate that it is to be filed in the real property

records;



   (3) Provide a description of the real property to which the

collateral is related; and



   (4) If the debtor does not have an interest of record in the

real property, provide the name of a record owner.



   (c) Record of mortgage as financing statement. A

record of a mortgage is effective, from the date of recording, as a financing

statement filed as a fixture filing or as a financing statement covering

as-extracted collateral or timber to be cut only if:



   (1) The record indicates the goods or accounts that it covers;



   (2) The goods are or are to become fixtures related to the

real property described in the record or the collateral is related to the real

property described in the record and is as-extracted collateral or timber to be

cut;



   (3) The record satisfies the requirements for a financing

statement in this section, but:



   (i) The record need not indicate that it is to be filed in

the real property records; and



   (ii) The record sufficiently provides the name of a debtor

who is an individual if it provides the individual name of the debtor or the

surname and first personal name of the debtor, even if the debtor is an

individual to whom subdivision 6A-9-503(a)(4) applies; and



   (4) The record is duly recorded.



   (d) Filing before security agreement or attachment. A

financing statement may be filed before a security agreement is made or a

security interest otherwise attaches.



History of Section.

(P.L. 2000, ch. 182, § 6; P.L. 2000, ch. 420, § 6; P.L. 2011, ch.

173, § 2; P.L. 2011, ch. 192, § 2; P.L. 2014, ch. 528, §

46.)