reglab/housing_qa huggingface dataset:
MI Comp L § 440.9507 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-1. - Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement (440.9501...440.9518)|Section 440.9507 - Effect of Certain Events on Effectiveness of Financing Statement.

440.9507 Effect of certain events on effectiveness of financing statement.Sec. 9507.  (1) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition.  (2) Except as otherwise provided in subsection (3) and section 9508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under section 9506.  (3) If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under section 9503(1) so that the financing statement becomes seriously misleading under section 9506, both of the following apply:  (a) The financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within 4 months after, the filed financing statement becomes seriously misleading.  (b) The financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than 4 months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement that renders the financing statement not seriously misleading is filed within 4 months after the financing statement became seriously misleading. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 2000, Act 348, Eff. July 1, 2001 ;-- Am. 2012, Act 88, Eff. July 1, 2013
MI Comp L § 440.9508 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-1. - Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement (440.9501...440.9518)|Section 440.9508 - Effectiveness of Financing Statement if New Debtor Becomes Bound by Security Agreement.

440.9508 Effectiveness of financing statement if new debtor becomes bound by security agreement. Sec. 9508.  (1) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral.  (2) If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under subsection (1) to be seriously misleading under section 9506, both of the following apply:  (a) The financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within 4 months after, the new debtor becomes bound under section 9203(4).  (b) The financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than 4 months after the new debtor becomes bound under section 9203(4) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.  (3) This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under section 9507(1). History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9509 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-1. - Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement (440.9501...440.9518)|Section 440.9509 - Persons Entitled to File a Record.

440.9509 Persons entitled to file a record. Sec. 9509.  (1) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if 1 of the following occurs:  (a) The debtor authorizes the filing in an authenticated record or pursuant to subsection (2) or (3).  (b) The person holds an agricultural lien that has become effective at time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.  (2) By authenticating or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering both of the following:  (a) The collateral described in the security agreement.  (b) Property that becomes collateral under section 9315(1)(b), whether or not the security agreement expressly covers proceeds.  (3) By acquiring collateral in which a security interest or agricultural lien continues under section 9315(1)(a), a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under section 9315(1)(b).  (4) A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if 1 of the following applies:  (a) The secured party of record authorizes the filing.  (b) The amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by section 9513(1) or (3), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.  (5) If there is more than 1 secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under subsection (4). History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9510 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-1. - Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement (440.9501...440.9518)|Section 440.9510 - Effectiveness of Filing Record.

440.9510 Effectiveness of filing record. Sec. 9510.  (1) A filed record is effective only to the extent that it was filed by a person that may file it under section 9509.  (2) A record authorized by 1 secured party of record does not affect the financing statement with respect to another secured party of record.  (3) A continuation statement that is not filed within the 6-month period prescribed by section 9515(4) is ineffective. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9511 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-1. - Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement (440.9501...440.9518)|Section 440.9511 - Secured Party of Record.

440.9511 Secured party of record. Sec. 9511.  (1) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under section 9514(1), the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.  (2) If an amendment of a financing statement that provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under section 9514(2), the assignee named in the amendment is a secured party of record.  (3) A person remains a secured party of record until the filing of an amendment of the financing statement that deletes the person. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9512 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-1. - Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement (440.9501...440.9518)|Section 440.9512 - Amendment of Financing Statement.

440.9512 Amendment of financing statement. Sec. 9512.  (1) Subject to section 9509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (5), otherwise amend the information provided in, a financing statement by filing an amendment that does both of the following:  (a) Identifies, by its file number, and, if applicable, by liber and page, the initial financing statement to which the amendment relates.  (b) If the amendment relates to an initial financing statement filed or recorded in a filing office described in section 9501(1)(a), provides the date that the initial financing statement was filed or recorded and the information specified in section 9502(2).  (2) Except as otherwise provided in section 9515, the filing of an amendment does not extend the period of effectiveness of the financing statement.  (3) A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment.  (4) A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment.  (5) An amendment is ineffective to the extent 1 or more of the following apply to it:  (a) It purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement.  (b) It purports to delete all secured parties of record and fails to provide the name of a new secured party of record. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9513 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-1. - Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement (440.9501...440.9518)|Section 440.9513 - Termination Statement.

440.9513 Termination statement. Sec. 9513.  (1) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and 1 or more of the following apply:  (a) There is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value.  (b) The debtor did not authorize the filing of the initial financing statement.  (2) To comply with subsection (1), a secured party shall cause the secured party of record to file the termination statement within 1 of the following periods:  (a) Within 1 month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value.  (b) If earlier, within 20 days after the secured party receives an authenticated demand from a debtor.  (3) In cases not governed by subsection (1), within 20 days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if 1 or more of the following apply:  (a) Except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value.  (b) The financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation.  (c) The financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession.  (d) The debtor did not authorize the filing of the initial financing statement.  (4) Except as otherwise provided in section 9510, upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in section 9510, for purposes of sections 9519(7), 9522(1), and 9523(3), the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9514 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-1. - Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement (440.9501...440.9518)|Section 440.9514 - Assignment of Powers of Secured Party of Record.

440.9514 Assignment of powers of secured party of record. Sec. 9514.  (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 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 that does all of the following:  (a) Identifies, by its file number, the initial financing statement to which it relates.  (b) Provides the name of the assignor.  (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 section 9502(3) may be made only by an assignment of record of the mortgage in the manner provided by law of this state other than this act. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9517 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-1. - Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement (440.9501...440.9518)|Section 440.9517 - Effect of Indexing Errors.

440.9517 Effect of indexing errors. Sec. 9517.  The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9518 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-1. - Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement (440.9501...440.9518)|Section 440.9518 - Information Statement Concerning Inaccurate or Wrongfully Filed Record.

440.9518 Information statement concerning inaccurate or wrongfully filed record.Sec. 9518.  (1) A person may file in the filing office an information statement with respect to a record indexed there under the person's name if the person believes that the record is inaccurate or was wrongfully filed.  (2) An information statement under subsection (1) must do all of the following:  (a) Identify the record to which it relates by both of the following:  (i) The file number assigned to the initial financing statement to which the record relates.  (ii) If the information statement relates to a record filed or recorded in a filing office described in section 9501(1)(a), the date that the initial financing statement was filed or recorded and the information specified in section 9502(2).  (b) Indicate that it is an information statement.  (c) Provide the basis for the person's belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person's belief that the record was wrongfully filed.  (3) A person may file in the filing office an information statement with respect to a record filed there if the person is a secured party of record with respect to the financing statement to which the record relates and believes that the person that filed the record was not entitled to do so under section 9509(4).  (4) An information statement under subsection (3) must do all of the following:  (a) Identify the record to which it relates by both of the following:  (i) The file number assigned to the initial financing statement to which the record relates.  (ii) If the information statement relates to a record filed or recorded in a filing office described in section 9501(1)(a), the date and time that the initial financing statement was filed or recorded and the information specified in section 9502(2).  (b) Indicate that it is an information statement.  (c) Provide the basis for the person's belief that the person that filed the record was not entitled to do so under section 9509(4).  (5) The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record. History: Add. 2000, Act 348, Eff. July 1, 2001 ;-- Am. 2012, Act 88, Eff. July 1, 2013
MI Comp L § 440.9521 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-2. - Subpart 2. Duties and Operation of Filing Office (440.9519...440.9527)|Section 440.9521 - Form and Format of Written Initial Financing Statement and Amendment.

440.9521 Form and format of written initial financing statement and amendment.Sec. 9521.  (1) Except for a reason set forth in section 9516(2) or 9520(5), a filing office that accepts written records for filing shall not refuse to accept a written initial financing statement that conforms to the form and format of UCC financing statement (Form UCC1) or UCC financing statement addendum (Form UCC1Ad) as promulgated by the American Law Institute and the Uniform Law Commission and adopted by the secretary of state, or as approved by the International Association of Commercial Administrators and adopted by the secretary of state, or any other form adopted by the secretary of state.  (2) Except for a reason set forth in section 9516(2) or 9520(5), a filing office that accepts written records for filing shall not refuse to accept a written financing statement amendment that conforms to the form and format of the UCC financing statement amendment (Form UCC3) or the UCC financing statement amendment addendum (Form UCC3Ad) as promulgated by the American Law Institute and the Uniform Law Commission, or to the form and format of any other revision to or version of either of those forms that are promulgated by the American Law Institute and the Uniform Law Commission, or as approved by the International Association of Commercial Administrators, and adopted by the secretary of state. History: Add. 2000, Act 348, Eff. July 1, 2001 ;-- Am. 2008, Act 383, Eff. Mar. 29, 2009 ;-- Am. 2012, Act 88, Eff. July 1, 2013 ;-- Am. 2021, Act 115, Imd. Eff. Nov. 22, 2021
MI Comp L § 440.9522 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-2. - Subpart 2. Duties and Operation of Filing Office (440.9519...440.9527)|Section 440.9522 - Maintenance and Destruction of Records.

440.9522 Maintenance and destruction of records. Sec. 9522.  (1) The filing office shall maintain a record of the information provided in a filed financing statement for at least 1 year after the effectiveness of the financing statement has lapsed under section 9515 with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and 1 of the following:  (a) If the record was filed or recorded in the filing office described in section 9501(1)(a), by using the file number assigned to the initial financing statement to which the record relates and the date that the record was filed or recorded.  (b) If record was filed in the filing office described in section 9501(1)(b), by using the file number assigned to the initial financing statement to which the record relates.  (2) Except to the extent that a statute governing disposition of public records provides otherwise, the filing office immediately may destroy any written record evidencing a financing statement. However, if the filing office destroys a written record, it shall maintain another record of the financing statement that complies with subsection (1). History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9524 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-5 - Part 5 Filing (440.9501...440.9527)|174-1962-9-5-2. - Subpart 2. Duties and Operation of Filing Office (440.9519...440.9527)|Section 440.9524 - Delay by Filing Office.

440.9524 Delay by filing office. Sec. 9524.  Delay by the filing office beyond a time limit prescribed by this part is excused if both of the following apply:  (a) The delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing office.  (b) The filing office exercises reasonable diligence under the circumstances. History: Add. 2000, Act 348, Eff. July 1, 2001