Source: https://www.law.cornell.edu/ucc/9/9-502
Timestamp: 2017-06-23 13:57:46
Document Index: 115278247

Matched Legal Cases: ['§ 9', 'art 5', '§ 9', '§ 9', '§ 9', '§ 9']

§ 9-502. CONTENTS OF FINANCING STATEMENT; RECORD OF MORTGAGE AS FINANCING STATEMENT; TIME OF FILING FINANCING STATEMENT. | UCC - Uniform Commercial Code | LII / Legal Information Institute
Uniform Commercial Code › U.C.C. - ARTICLE 9 - SECURED TRANSACTIONS (2010) › Part 5. Filing › § 9-502. CONTENTS OF FINANCING STATEMENT; RECORD OF MORTGAGE AS FINANCING STATEMENT; TIME OF FILING FINANCING STATEMENT. § 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
(2) provides the name of the secured
party or a representative of the secured party; and
(b) [Real-property-related financing
statements.] Except as otherwise provided in Section 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:
(2) indicate that it is to be filed [for record] in the
(3) provide a description of the real property to which
the collateral is related [sufficient to give constructive notice of a mortgage under
the law of this State if the description were contained in a record of the mortgage
of the real property]; 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;
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;
statement in this section, but
(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.
Legislative Note: Language in brackets is optional. Where the State has any special recording system for real property other than the usual grantor-grantee index (as, for instance, a tract system or a title registration or Torrens system) local adaptations of subsection (b) and Section 9-519(d) and (e) may be necessary. See, e.g., Mass. Gen. Laws Chapter 106, Section 9-410.
A State should enact the 2010 amendments to Section 9-502 only if the State enacts Alternative A of the 2010 amendments to Section 9-503.
‹ § 9-501. FILING OFFICE.
§ 9-503. NAME OF DEBTOR AND SECURED PARTY. ›