reglab/statecodes huggingface dataset:
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-513 — Termination Statement.

336.9-513 TERMINATION STATEMENT.
(a)
Consumer goods.
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) 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; or
(2) the debtor did not authorize the filing of the initial financing statement.
(b)
Time for compliance with subsection (a).
To comply with subsection (a), a secured party shall cause the secured party of record to file the termination statement:
(1) within one 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; or
(2) if earlier, within 20 days after the secured party receives an authenticated demand from a debtor.
(c)
Other collateral.
In cases not governed by subsection (a), 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) 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;
(2) 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;
(3) the financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession; or
(4) the debtor did not authorize the filing of the initial financing statement.
(d)
Effect of filing termination statement.
Except as otherwise provided in section 336.9-510, 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 336.9-510, for purposes of sections 336.9-519(g), 336.9-522(a), and 336.9-523(c), 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:
2000 c 399 art 1 s 84; 2018 c 182 art 1 s 93
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-514 — Assignment Of Powers Of Secured Party Of Record.

336.9-514 ASSIGNMENT OF POWERS OF SECURED PARTY OF RECORD.
(a)
Assignment reflected on initial financing statement.
Except as otherwise provided in subsection (c), an initial financing statement may reflect an assignment of all of the secured party's power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party.
(b)
Assignment of filed financing statement.
Except as otherwise provided in subsection (c), 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 which:
(1) identifies, by its file number, the initial financing statement to which it relates;
(2) provides the name of the assignor; and
(3) provides the name and mailing address of the assignee.
(c)
Assignment of record of mortgage.
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 336.9-502(c) may be made only by an assignment of record of the mortgage in the manner provided by law of this state other than the Uniform Commercial Code.
History:
2000 c 399 art 1 s 85
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-515 — Duration And Effectiveness Of Financing Statement; Effect Of Lapsed Financing Statement.

336.9-515 DURATION AND EFFECTIVENESS OF FINANCING STATEMENT; EFFECT OF LAPSED FINANCING STATEMENT.
(a)
Five-year effectiveness.
Except as otherwise provided in subsections (b), (e), (f), and (g), a filed financing statement is effective for a period of five years after the date of filing.
(b)
Public finance or manufactured home transaction.
Except as otherwise provided in subsections (e), (f), and (g), an initial financing statement filed in connection with a public finance transaction or manufactured home transaction is effective for a period of 30 years after the date of filing if it indicates that it is filed in connection with a public finance transaction or manufactured home transaction.
(c)
Lapse and continuation of financing statement.
The effectiveness of a filed financing statement lapses on the expiration of the period of its effectiveness unless before the lapse a continuation statement is filed pursuant to subsection (d). Upon lapse, a financing statement ceases to be effective and any security interest or agricultural lien that was perfected by the financing statement becomes unperfected, unless the security interest is perfected otherwise. If the security interest or agricultural lien becomes unperfected upon lapse, it is deemed never to have been perfected as against a purchaser of the collateral for value.
(d)
When continuation statement may be filed.
A continuation statement may be filed only within six months before the expiration of the five-year period specified in subsection (a) or the 30-year period specified in subsection (b), whichever is applicable.
(e)
Effect of filing continuation statement.
Except as otherwise provided in section 336.9-510, upon timely filing of a continuation statement, the effectiveness of the initial financing statement continues for a period of five years commencing on the day on which the financing statement would have become ineffective in the absence of the filing. Upon the expiration of the five-year period, the financing statement lapses in the same manner as provided in subsection (c), unless, before the lapse, another continuation statement is filed pursuant to subsection (d). Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement.
(f)
Transmitting utility financing statement.
If a debtor is a transmitting utility and a filed initial financing statement so indicates, the financing statement is effective until a termination statement is filed.
(g)
Record of mortgage as financing statement.
A record of a mortgage that is effective as a financing statement filed as a fixture filing under section 336.9-502 (c) remains effective as a financing statement filed as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property.
History:
2000 c 399 art 1 s 86; 2011 c 31 art 1 s 13,16
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-517 — Effect Of Indexing Errors.

336.9-517 EFFECT OF INDEXING ERRORS.
The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record.
History:
2000 c 399 art 1 s 88
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-518 — Claim Concerning Inaccurate Or Wrongfully Filed Record.

336.9-518 CLAIM CONCERNING INACCURATE OR WRONGFULLY FILED RECORD.
(a)
Statement with respect to record indexed under person's name.
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.
(b)
Contents of statement under subsection (a).
An information statement under subsection (a) must:
(1) identify the record to which it relates by the file number assigned to the initial financing statement to which the record relates;
(2) indicate that it is an information statement; and
(3) 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.
(c)
Statement by secured party of record.
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 336.9-509 (d).
(d)
Contents of statement under subsection (c).
An information statement under subsection (c) must:
(1) identify the record to which it relates by the file number assigned to the initial financing statement to which the record relates;
(2) indicate that it is an information statement; and
(3) provide the basis for the person's belief that the person that filed the record was not entitled to do so under section 336.9-509 (d).
(e)
Record not affected by information statement.
The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record.
History:
2000 c 399 art 1 s 89; 2011 c 31 art 1 s 15,16
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-520 — Acceptance And Refusal To Accept Record.

336.9-520 ACCEPTANCE AND REFUSAL TO ACCEPT RECORD.
(a)
Mandatory refusal to accept record.
A filing office shall refuse to accept a record for filing for a reason set forth in section 336.9-516(b) and may refuse to accept a record for filing only for a reason set forth in section 336.9-516(b).
(b)
Communication concerning refusal.
If a filing office refuses to accept a record for filing, it shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it. The communication must be made at the time and in the manner prescribed by filing office rule, but in no event more than two business days after the filing office receives the record.
(c)
When filed financing statement effective.
A filed financing statement satisfying section 336.9-502(a) and (b) is effective, even if the filing office is required to refuse to accept it for filing under subsection (a). However, section 336.9-338 applies to a filed financing statement providing information described in section 336.9-516(b)(5) which is incorrect at the time the financing statement is filed.
(d)
Separate application to multiple debtors.
If a record communicated to a filing office provides information that relates to more than one debtor, this part applies as to each debtor separately.
History:
2000 c 399 art 1 s 91
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-521 — Uniform Form Of Written Financing Statement And Amendment.

336.9-521 UNIFORM FORM OF WRITTEN FINANCING STATEMENT AND AMENDMENT.
(a)
Initial financing statement form.
A filing office that accepts written records may not refuse to accept a written initial financing statement in the form and format adopted by the National Conference of Commissioners on Uniform State Laws, except for a reason set forth in section 336.9-516(b).
(b)
Amendment form.
A filing office that accepts written records may not refuse to accept a written amendment of an initial financing statement record in the form and format adopted by the National Conference of Commissioners on Uniform State Laws, except for a reason set forth in section 336.9-516(b).
(c)
IACA forms.
Forms adopted by the International Association of Commercial Administrators are accepted for filing, except for a reason set forth in section 336.9-516(b).
History:
2000 c 399 art 1 s 92; 2001 c 195 art 1 s 13; 2009 c 98 s 25
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-522 — Maintenance And Destruction Of Records.

336.9-522 MAINTENANCE AND DESTRUCTION OF RECORDS.
(a)
Post-lapse maintenance and retrieval of information.
The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under section 336.9-515 with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and by using the file number assigned to the initial financing statement to which the record relates.
(b)
Destruction of written records.
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 which complies with subsection (a).
History:
2000 c 399 art 1 s 93
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-523 — Information From Filing Office; Sale Or License Of Records.

336.9-523 INFORMATION FROM FILING OFFICE; SALE OR LICENSE OF RECORDS.
(a)
Acknowledgment of filing written record.
If a person that files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image of the record showing the number assigned to the record pursuant to section 336.9-519(a)(1) and the date and time of the filing of the record. However, if the person furnishes a copy of the record to the filing office, the filing office may instead:
(1) note upon the copy the number assigned to the record pursuant to section 336.9-519(a)(1) and the date and time of the filing of the record; and
(2) send the copy to the person.
(b)
Acknowledgment of filing other record.
If a person files a record other than a written record, the filing office shall communicate to the person an acknowledgment that provides:
(1) the information in the record;
(2) the number assigned to the record pursuant to section 336.9-519(a)(1); and
(3) the date and time of the filing of the record.
(c)
Communication of requested information.
The filing office shall communicate or otherwise make available in a record the following information to any person that requests it:
(1) whether there is on file on a date and time specified by the filing office, but not a date earlier than three business days before the filing office receives the request, any financing statement that:
(A) designates a particular debtor (or, if the request so states, designates a particular debtor at the address specified in the request);
(B) has not lapsed under section 336.9-515 with respect to all secured parties of record; and
(C) if the request so states, has lapsed under section 336.9-515 and a record of which is maintained by the filing office under section 336.9-522(a);
(2) the date and time of filing of each financing statement; and
(3) the information provided in each financing statement.
(d)
Medium for communicating information.
In complying with its duty under subsection (c), the filing office may communicate information in any medium. However, if requested, the filing office shall communicate information by issuing its written certificate.
(e)
Timeliness of filing office performance.
The filing office shall perform the acts required by subsections (a) through (d) at the time and in the manner prescribed by filing office rule, but not later than two business days after the filing office receives the request.
(f)
Public availability of records.
At least weekly, the secretary of state shall offer to sell or license to the public on a nonexclusive basis, in bulk, copies of all records filed in it under this part, in every medium from time to time available to the filing office.
History:
2000 c 399 art 1 s 94
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-524 — Delay By Filing Office.

336.9-524 DELAY BY FILING OFFICE.
Delay by the filing office beyond a time limit prescribed by this part is excused if:
(1) 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; and
(2) the filing office exercises reasonable diligence under the circumstances.
History:
2000 c 399 art 1 s 95
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-525 — Fees.

336.9-525 FEES.
(a)
Initial financing statement or other record: general rule.
Except as otherwise provided in subsection (d), the fee for filing and indexing a record under this part is $20. $5 of the fee collected for each filing made online must be deposited in the uniform commercial code account.
(b)
Number of names.
The number of names required to be indexed does not affect the amount of the fee in subsection (a).
(c)
Response to information request.
The fee for responding to a request for information from the filing office, including for issuing a certificate showing whether there is on file any financing statement naming a particular debtor and providing images of that financing statement, if requested, is $20. $5 of the fee collected for each request delivered online must be deposited in the uniform commercial code account.
(d)
Record of mortgage.
This section does not require a fee with respect to a record of a mortgage which is effective as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut under section 336.9-502(c). However, the recording and satisfaction fees that otherwise would be applicable to the record of the mortgage apply.
History:
2000 c 399 art 1 s 96; 2004 c 251 s 17; 2007 c 148 art 2 s 62; 2009 c 98 s 26
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-526 — Duty To Report.

336.9-526 DUTY TO REPORT.
The secretary of state shall report annually on or before January 1 to the legislature on the operation of the filing office.
History:
2000 c 399 art 1 s 97
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-527 — Satellite Offices Authorized.

336.9-527 SATELLITE OFFICES AUTHORIZED.
The secretary of state may establish satellite offices by written agreements with public officials within the state for the purpose of meeting the filing officer responsibilities described in sections 336.9-528 to 336.9-530. The term of the agreement must be set by, and may be renewed by, mutual agreement. The agreement may be terminated upon 60 days' notice. The secretary must maintain a list of those public officials authorized to act as satellite offices. The secretary of state must make this list available in an electronic format and the list must be updated at least monthly.
History:
2000 c 399 art 1 s 98
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-528 — Filing; Assignment Of Filing Information At Satellite Offices.

336.9-528 FILING; ASSIGNMENT OF FILING INFORMATION AT SATELLITE OFFICES.
Satellite offices shall accept Uniform Commercial Code documents and respond to requests for information pursuant to the provisions of sections 336.9-101 to 336.9-708. A filing made at a satellite office is filed and effective at the same time and under the same rules provided for filing in any other manner in the Uniform Commercial Code information system. The filing date, time, and file number for any Uniform Commercial Code document accepted at a satellite office must be automatically assigned by the Uniform Commercial Code information management system operated by the secretary of state, and the file number must be the next available file number in the Uniform Commercial Code information management system.
History:
2000 c 399 art 1 s 99
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-529 — Maintenance And Retrieval Of Documents And Data.

336.9-529 MAINTENANCE AND RETRIEVAL OF DOCUMENTS AND DATA.
The secretary of state shall maintain all Uniform Commercial Code documents and the database used to index them regardless of where or how the Uniform Commercial Code document was filed. The Uniform Commercial Code documents and database must be housed in the Uniform Commercial Code information management system. Uniform Commercial Code documents and data shall be available from the secretary of state or any satellite office. The secretary of state shall arrange by mutual agreement with county recorders for the storage and retrieval of existing Uniform Commercial Code documents.
Any filing office within the Uniform Commercial Code information management system may respond to requests for information, and the secretary of state shall establish and administer a system to facilitate those responses.
History:
2000 c 399 art 1 s 100
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-530 — Satellite Offices; Uniformity Of Services Assured.

336.9-530 SATELLITE OFFICES; UNIFORMITY OF SERVICES ASSURED.
Subdivision 1.
Performance standards.
All filing officers must perform the responsibilities in sections 336.9-501 to 336.9-530 and rules adopted under Laws 2000, chapter 399, article 1, section 139 in a uniform manner, whether services are provided by the secretary of state or at a satellite office location. Reports by citizens describing concerns with performance of filing officer responsibilities must be made to the secretary of state. The secretary of state is responsible for responding to reports about performance in a manner the secretary of state determines is appropriate.
Subd. 2.
Failure to meet performance standards.
If, upon investigation of citizen reports described in subdivision 1, the secretary of state determines that performance by a satellite office of the filing officer responsibilities has been so unsatisfactory that customer service has been severely impaired, the secretary of state must terminate the satellite office's status and ability to perform filing office responsibilities. If a satellite office's ability to perform filing office responsibilities is terminated by the secretary of state, the change in status must be posted in the former satellite office and must also be publicly posted in the county courthouse in the county in which the former satellite office is located and must be made available in an electronic format.
History:
2000 c 399 art 1 s 101
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-531 — Electronic Access; Liability; Retention.

336.9-531 ELECTRONIC ACCESS; LIABILITY; RETENTION.
(a)
Electronic access.
The secretary of state may allow private parties to have electronic access to the central filing system and to other computerized records maintained by the secretary of state on a fee basis, except that: (1) visual access to electronic display terminals at the public counters at the Secretary of State's Office must be without charge and must be available during public counter hours; and (2) access by law enforcement personnel, acting in an official capacity, must be without charge. If the central filing system allows a form of electronic access to information regarding the obligations of debtors, the access must be available 24 hours a day, every day of the year.
A Social Security number maintained by the secretary of state under this section is private data on individuals or nonpublic data, as defined in section 13.02.
(b)
Liability.
The secretary of state, county recorders, and their employees and agents are not liable for any loss or damages arising from errors in or omissions from information entered into the central filing system as a result of the electronic transmission of tax lien notices under sections 268.058, subdivision 1, paragraph (c); 270C.63, subdivision 4; 272.483; and 272.488, subdivisions 1 and 3.
The state, the secretary of state, counties, county recorders, and their employees and agents are immune from liability that occurs as a result of errors in or omissions from information provided from the central filing system.
(c)
Retention.
Once the image of a paper record has been captured by the central filing system, the secretary of state may remove or direct the removal from the files and destroy the paper record.
History:
2001 c 195 art 1 s 14; 2004 c 228 art 1 s 63; 2005 c 151 art 2 s 17; 2010 c 333 art 1 s 22; 2013 c 110 s 10
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-602 — Waiver And Variance Of Rights And Duties.

336.9-602 WAIVER AND VARIANCE OF RIGHTS AND DUTIES.
Except as otherwise provided in section 336.9-624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections:
(1) section 336.9-207(b)(4)(C), which deals with use and operation of the collateral by the secured party;
(2) section 336.9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3) section 336.9-607(c), which deals with collection and enforcement of collateral;
(4) sections 336.9-608(a) and 336.9-615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) sections 336.9-608(a) and 336.9-615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) section 336.9-609 to the extent that it imposes upon a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace;
(7) sections 336.9-610(b), 336.9-611, 336.9-613, and 336.9-614, which deal with disposition of collateral;
(8) section 336.9-615(f), which deals with calculation of a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor;
(9) section 336.9-616, which deals with explanation of the calculation of a surplus or deficiency;
(10) sections 336.9-620, 336.9-621, and 336.9-622, which deal with acceptance of collateral in satisfaction of obligation;
(11) section 336.9-623, which deals with redemption of collateral;
(12) section 336.9-624, which deals with permissible waivers; and
(13) sections 336.9-625 and 336.9-626, which deal with the secured party's liability for failure to comply with this article.
History:
2000 c 399 art 1 s 103
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-603 — Agreement On Standards Concerning Rights And Duties.

336.9-603 AGREEMENT ON STANDARDS CONCERNING RIGHTS AND DUTIES.
(a)
Agreed standards.
The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in section 336.9-602 if the standards are not manifestly unreasonable.
(b)
Agreed standards inapplicable to breach of peace.
Subsection (a) does not apply to the duty under section 336.9-609 to refrain from breaching the peace.
History:
2000 c 399 art 1 s 104
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-604 — Procedure If Security Agreement Covers Real Property Or Fixtures.

336.9-604 PROCEDURE IF SECURITY AGREEMENT COVERS REAL PROPERTY OR FIXTURES.
(a)
Enforcement: personal and real property.
If a security agreement covers both personal and real property, a secured party may proceed:
(1) under this part as to the personal property without prejudicing any rights with respect to the real property; or
(2) as to both the personal property and the real property in accordance with the rights with respect to the real property, in which case the other provisions of this part do not apply.
(b)
Enforcement: fixtures.
Subject to subsection (c), if a security agreement covers goods that are or become fixtures, a secured party may proceed:
(1) under this part; or
(2) in accordance with the rights with respect to real property, in which case the other provisions of this part do not apply.
(c)
Removal of fixtures.
Subject to the other provisions of this part, if a secured party holding a security interest in fixtures has priority over all owners and encumbrancers of the real property, the secured party, after default, may remove the collateral from the real property.
(d)
Injury caused by removal.
A secured party that removes collateral shall promptly reimburse any encumbrancer or owner of the real property, other than the debtor, for the cost of repair of any physical injury caused by the removal. The secured party need not reimburse the encumbrancer or owner for any diminution in value of the real property caused by the absence of the goods removed or by any necessity of replacing them. A person entitled to reimbursement may refuse permission to remove until the secured party gives adequate assurance for the performance of the obligation to reimburse.
History:
2000 c 399 art 1 s 105
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-605 — Unknown Debtor Or Secondary Obligor.

336.9-605 UNKNOWN DEBTOR OR SECONDARY OBLIGOR.
A secured party does not owe a duty based on its status as secured party:
(1) to a person that is a debtor or obligor, unless the secured party knows:
(A) that the person is a debtor or obligor;
(B) the identity of the person; and
(C) how to communicate with the person; or
(2) to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:
(A) that the person is a debtor; and
(B) the identity of the person.
History:
2000 c 399 art 1 s 106
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-606 — Time Of Default For Agricultural Lien.

336.9-606 TIME OF DEFAULT FOR AGRICULTURAL LIEN.
For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.
History:
2000 c 399 art 1 s 107
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-608 — Application Of Proceeds Of Collection Or Enforcement; Liability For Deficiency And Right To Surplus.

336.9-608 APPLICATION OF PROCEEDS OF COLLECTION OR ENFORCEMENT; LIABILITY FOR DEFICIENCY AND RIGHT TO SURPLUS.
(a)
Application of proceeds, surplus, and deficiency if obligation secured.
If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply:
(1) A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under section 336.9-607 in the following order to:
(A) the reasonable expenses of collection and enforcement and, to the extent provided for by agreement and not prohibited by law, reasonable attorneys fees and legal expenses incurred by the secured party;
(B) the satisfaction of obligations secured by the security interest or agricultural lien under which the collection or enforcement is made; and
(C) the satisfaction of obligations secured by any subordinate security interest in or other lien on the collateral subject to the security interest or agricultural lien under which the collection or enforcement is made if the secured party receives an authenticated demand for proceeds before distribution of the proceeds is completed.
(2) If requested by a secured party, a holder of a subordinate security interest or other lien shall furnish reasonable proof of the interest or lien within a reasonable time. Unless the holder complies, the secured party need not comply with the holder's demand under paragraph (1)(C).
(3) A secured party need not apply or pay over for application noncash proceeds of collection and enforcement under section 336.9-607 unless the failure to do so would be commercially unreasonable. A secured party that applies or pays over for application noncash proceeds shall do so in a commercially reasonable manner.
(4) A secured party shall account to and pay a debtor for any surplus, and the obligor is liable for any deficiency.
(b)
No surplus or deficiency in sales of certain rights to payment.
If the underlying transaction is a sale of accounts, chattel paper, payment intangibles, or promissory notes, the debtor is not entitled to any surplus, and the obligor is not liable for any deficiency.
History:
2000 c 399 art 1 s 109
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-609 — Secured Party's Right To Take Possession After Default.

336.9-609 SECURED PARTY'S RIGHT TO TAKE POSSESSION AFTER DEFAULT.
(a)
Possession; rendering equipment unusable; disposition on debtor's premises.
After default, a secured party:
(1) may take possession of the collateral; and
(2) without removal, may render equipment unusable and dispose of collateral on a debtor's premises under section 336.9-610.
(b)
Judicial and nonjudicial process.
A secured party may proceed under subsection (a):
(1) pursuant to judicial process; or
(2) without judicial process, if it proceeds without breach of the peace.
(c)
Assembly of collateral.
If so agreed, and in any event after default, a secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties.
History:
2000 c 399 art 1 s 110
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-610 — Disposition Of Collateral After Default.

336.9-610 DISPOSITION OF COLLATERAL AFTER DEFAULT.
(a)
Disposition after default.
After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing.
(b)
Commercially reasonable disposition.
Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit or in parcels, and at any time and place and on any terms.
(c)
Purchase by secured party.
A secured party may purchase collateral:
(1) at a public disposition; or
(2) at a private disposition only if the collateral is of a kind that is customarily sold on a recognized market or the subject of widely distributed standard price quotations.
(d)
Warranties on disposition.
A contract for sale, lease, license, or other disposition includes the warranties relating to title, possession, quiet enjoyment, and the like which by operation of law accompany a voluntary disposition of property of the kind subject to the contract.
(e)
Disclaimer of warranties.
A secured party may disclaim or modify warranties under subsection (d):
(1) in a manner that would be effective to disclaim or modify the warranties in a voluntary disposition of property of the kind subject to the contract of disposition; or
(2) by communicating to the purchaser a record evidencing the contract for disposition and including an express disclaimer or modification of the warranties.
(f)
Record sufficient to disclaim warranties.
A record is sufficient to disclaim warranties under subsection (e) if it indicates "there is no warranty relating to title, possession, quiet enjoyment, or the like in this disposition" or uses words of similar import.
History:
2000 c 399 art 1 s 111
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-611 — Notification Before Disposition Of Collateral.

336.9-611 NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.
(a)
Notification date.
In this section, "notification date" means the earlier of the date on which:
(1) a secured party sends to the debtor and any secondary obligor an authenticated notification of disposition; or
(2) the debtor and any secondary obligor waive the right to notification.
(b)
Notification of disposition required.
Except as otherwise provided in subsection (d), a secured party that disposes of collateral under section 336.9-610 shall send to the persons specified in subsection (c) a reasonable authenticated notification of disposition.
(c)
Persons to be notified.
To comply with subsection (b), the secured party shall send an authenticated notification of disposition to:
(1) the debtor;
(2) any secondary obligor; and
(3) if the collateral is other than consumer goods:
(A) any other person from which the secured party has received, before the notification date, an authenticated notification of a claim of an interest in the collateral;
(B) any other secured party or lienholder that, ten days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:
(i) identified the collateral;
(ii) was indexed under the debtor's name as of that date; and
(iii) was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and
(C) any other secured party that, ten days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in section 336.9-311(a).
(d)
Subsection (b) inapplicable: perishable collateral; recognized market.
Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market.
(e)
Compliance with subsection (c)(3)(b).
A secured party complies with the requirement for notification prescribed by subsection (c)(3)(B) if:
(1) not later than 20 days or earlier than 30 days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor's name in the office indicated in subsection (c)(3)(B); and
(2) before the notification date, the secured party:
(A) did not receive a response to the request for information; or
(B) received a response to the request for information and sent an authenticated notification of disposition to each secured party named in that response whose financing statement covered the collateral.
History:
2000 c 399 art 1 s 112
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-612 — Timeliness Of Notification Before Disposition Of Collateral.

336.9-612 TIMELINESS OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.
(a)
Reasonable time is question of fact.
Except as otherwise provided in subsection (b), whether a notification is sent within a reasonable time is a question of fact.
(b)
Ten-day period sufficient in nonconsumer transaction.
In a transaction other than a consumer transaction, a notification of disposition sent after default and ten days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition.
History:
2000 c 399 art 1 s 113
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-613 — Contents And Form Of Notification Before Disposition Of Collateral: General.

336.9-613 CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL: GENERAL.
Except in a consumer goods transaction, the following rules apply:
(1) The contents of a notification of disposition are sufficient if the notification:
(A) describes the debtor and the secured party;
(B) describes the collateral that is the subject of the intended disposition;
(C) states the method of intended disposition;
(D) states that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and
(E) states the time and place of a public disposition or the time after which any other disposition is to be made.
(2) Whether the contents of a notification that lacks any of the information specified in paragraph (1) are nevertheless sufficient is a question of fact.
(3) The contents of a notification providing substantially the information specified in paragraph (1) are sufficient, even if the notification includes:
(A) information not specified by that paragraph; or
(B) minor errors that are not seriously misleading.
(4) A particular phrasing of the notification is not required.
(5) The following form of notification and the form appearing in section 336.9-614(3), when completed, each provides sufficient information:
NOTIFICATION OF DISPOSITION OF COLLATERAL
(Name of debtor, obligor, or other person to which the notification is sent)
(Name, address, and telephone number of secured party)
(Include only if debtor(s) are not an addressee)
(For a public disposition:)
We will sell (or lease or license, as applicable) the .....(describe collateral)..... (to the highest qualified bidder) in public as follows:
Date:
.
Time:
.
Place:
.
(For a private disposition:)
We will sell (or lease or license, as applicable) the .....(describe collateral)..... privately sometime after ...(day and date)....
You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell (or lease or license, as applicable) (for a charge of $.......). You may request an accounting by calling us at ...(telephone number)....
History:
2000 c 399 art 1 s 114
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-617 — Rights Of Transferee Of Collateral.

336.9-617 RIGHTS OF TRANSFEREE OF COLLATERAL.
(a)
Effects of disposition.
A secured party's disposition of collateral after default:
(1) transfers to a transferee for value all of the debtor's rights in the collateral;
(2) discharges the security interest under which the disposition is made; and
(3) discharges any subordinate security interest or other subordinate lien.
(b)
Rights of good faith transferee.
A transferee that acts in good faith takes free of the rights and interests described in subsection (a), even if the secured party fails to comply with this article or the requirements of any judicial proceeding.
(c)
Rights of other transferee.
If a transferee does not take free of the rights and interests described in subsection (a), the transferee takes the collateral subject to:
(1) the debtor's rights in the collateral;
(2) the security interest or agricultural lien under which the disposition is made; and
(3) any other security interest or other lien.
History:
2000 c 399 art 1 s 118; 2001 c 195 art 1 s 17
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-618 — Rights And Duties Of Certain Secondary Obligors.

336.9-618 RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS.
(a)
Rights and duties of secondary obligor.
A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor:
(1) receives an assignment of a secured obligation from the secured party;
(2) receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or
(3) is subrogated to the rights of a secured party with respect to collateral.
(b)
Effect of assignment, transfer, or subrogation.
An assignment, transfer, or subrogation described in subsection (a):
(1) is not a disposition of collateral under section 336.9-610; and
(2) relieves the secured party of further duties under this article.
History:
2000 c 399 art 1 s 119
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-621 — Notification Of Proposal To Accept Collateral.

336.9-621 NOTIFICATION OF PROPOSAL TO ACCEPT COLLATERAL.
(a)
Persons to which proposal to be sent.
A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:
(1) any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral;
(2) any other secured party or lienholder that, ten days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:
(A) identified the collateral;
(B) was indexed under the debtor's name as of that date; and
(C) was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and
(3) any other secured party that, ten days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in section 336.9-311(a).
(b)
Proposal to be sent to secondary obligor in partial satisfaction.
A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection (a).
History:
2000 c 399 art 1 s 122
2023 Minnesota Statutes › Chapters 324 - 342 — Trade Regulations, Consumer Protection › Chapter 336 — Uniform Commercial Code › Section 336.9-622 — Effect Of Acceptance Of Collateral.

336.9-622 EFFECT OF ACCEPTANCE OF COLLATERAL.
(a)
Effect of acceptance.
A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures:
(1) discharges the obligation to the extent consented to by the debtor;
(2) transfers to the secured party all of a debtor's rights in the collateral;
(3) discharges the security interest or agricultural lien that is the subject of the debtor's consent and any subordinate security interest or other subordinate lien; and
(4) terminates any other subordinate interest.
(b)
Discharge of subordinate interest notwithstanding noncompliance.
A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this article.
History:
2000 c 399 art 1 s 123