reglab/statecodes huggingface dataset:
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 4. Rights of Third Parties › 30-9A-409. Restrictions on assignment of letter-of-credit rights ineffective

30-9A-409. Restrictions on assignment of letter-of-credit rights ineffective.
(1) A term in a letter of credit or a rule of law, including a provision in a statute or governmental rule or regulation, custom, or practice applicable to the letter of credit that prohibits, restricts, or requires the consent of an applicant, issuer, or nominated person to a beneficiary's assignment of or creation of a security interest in a letter-of-credit right is ineffective to the extent that the term or rule of law, custom, or practice:
(a) would impair the creation, attachment, or perfection of a security interest in the letter-of-credit right; or
(b) provides that the assignment or the creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the letter-of-credit right.
(2) To the extent that a term in a letter of credit is ineffective under subsection (1) but would be effective under law other than this chapter or a custom or practice applicable to the letter of credit, to the transfer of a right to draw or otherwise demand performance under the letter of credit, or to the assignment of a right to proceeds of the letter of credit, the creation, attachment, or perfection of a security interest in the letter-of-credit right:
(a) is not enforceable against the applicant, issuer, nominated person, or transferee beneficiary;
(b) imposes no duties or obligations on the applicant, issuer, nominated person, or transferee beneficiary; and
(c) does not require the applicant, issuer, nominated person, or transferee beneficiary to recognize the security interest, pay or render performance to the secured party, or accept payment or other performance from the secured party.
History: En. Sec. 70, Ch. 305, L. 1999; amd. Sec. 15, Ch. 179, L. 2001; Sec. 30-9-449, MCA 1999; redes. 30-9A-409 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 4. Rights of Third Parties › 30-9A-420. Removal of improper or fraudulent liens -- notice to secured party and debtor

30-9A-420. Removal of improper or fraudulent liens -- notice to secured party and debtor.
(1) If a filing officer receives a complaint or has reason to believe that a lien submitted or filed with the filing officer's office is improper or fraudulent, the filing officer may reject the submission or remove the filing from existing files after giving notice and an opportunity to respond to the secured party and the debtor.
(2) A person adversely affected by a lien that is determined to be improper or fraudulent by the filing officer may recover treble damages from the person responsible for submitting the lien.
History: En. Sec. 4, Ch. 335, L. 1993; Sec. 30-9-432, MCA 1999; redes. 30-9A-420 by Code Commissioner, 2001; amd. Sec. 1, Ch. 69, L. 2007.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-501. Filing office

30-9A-501. Filing office.
(1) Except as otherwise provided in subsection (2), if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is:
(a) the office designated for the filing or recording of a mortgage on the real property if:
(i) the collateral is as-extracted collateral or timber to be cut; or
(ii) the financing statement is filed as a fixture filing and the collateral is goods that are or are to become fixtures; or
(b) the office of secretary of state in all other cases, including if the collateral is goods that are or are to become fixtures and the financing statement is not filed as a fixture filing.
(2) The office in which to file a financing statement to perfect a security interest in collateral, including fixtures, of a transmitting utility is the office of secretary of state. The financing statement also constitutes a fixture filing as to the collateral indicated in the financing statement that is or is to become fixtures.
(3) The office in which a financial institution is required to file an effective financing statement, as defined in 7 U.S.C. 1631, is the office of the secretary of state.
History: En. Sec. 71, Ch. 305, L. 1999; Sec. 30-9-521, MCA 1999; redes. 30-9A-501 by Code Commissioner, 2001; amd. Sec. 3, Ch. 207, L. 2005; amd. Sec. 32, Ch. 44, L. 2007.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-502. Contents of financing statement -- mortgage as financing statement -- time of filing financing statement

30-9A-502. Contents of financing statement -- mortgage as financing statement -- time of filing financing statement.
(1) Subject to subsection (2), a financing statement is sufficient only if it:
(a) provides the name of the debtor;
(b) provides the name of the secured party or a representative of the secured party; and
(c) indicates the collateral covered by the financing statement.
(2) Except as otherwise provided in 30-9A-501(2), to be sufficient, a financing statement that covers as-extracted collateral or timber to be cut or that is filed as a fixture filing and covers goods that are or are to become fixtures must comply with the requirements of subsection (1) and also:
(a) indicate that it covers this type of collateral;
(b) indicate that it is to be filed for record in the real property records;
(c) provide a description of the real property to which the collateral is related sufficient to give constructive notice of the mortgage under the law of this state if the description were contained in a record of the mortgage of the real property; and
(d) if the debtor does not have an interest of record in the real property, provide the name of a record owner.
(3) A record of 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:
(a) the record indicates the goods or accounts that it covers;
(b) 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;
(c) the record complies with 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 30-9A-503(1)(d) applies; and
(d) the record is recorded.
(4) A financing statement may be filed before a security agreement is made or a security interest otherwise attaches.
History: En. Sec. 72, Ch. 305, L. 1999; Sec. 30-9-522, MCA 1999; redes. 30-9A-502 by Code Commissioner, 2001; amd. Sec. 11, Ch. 75, L. 2013.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-504. Indication of collateral

30-9A-504. Indication of collateral.
A financing statement sufficiently indicates the collateral that it covers if the financing statement provides:
(1) a description of the collateral pursuant to 30-9A-108; or
(2) an indication that the financing statement covers all assets or all personal property.
History: En. Sec. 74, Ch. 305, L. 1999; Sec. 30-9-524, MCA 1999; redes. 30-9A-504 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-505. Filing and compliance with other statutes and treaties for consignments, leases, bailments, and other transactions

30-9A-505. Filing and compliance with other statutes and treaties for consignments, leases, bailments, and other transactions.
(1) A consignor, lessor, or bailor of goods or a buyer of a payment intangible or promissory note may file a financing statement or may comply with a statute or treaty described in 30-9A-311(1), using the terms "consignor", "consignee", "lessor", "lessee", "bailor", "bailee", "owner", "registered owner", "buyer", "seller", or words of similar import, instead of the terms "secured party" and "debtor."
(2) This part applies to the filing of a financing statement under subsection (1) and, as appropriate, to compliance that is equivalent to filing a financing statement under 30-9A-311(2), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, owner, or buyer that attaches to the collateral is perfected by the filing or compliance.
History: En. Sec. 75, Ch. 305, L. 1999; Sec. 30-9-525, MCA 1999; redes. 30-9A-505 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-506. Effect of errors or omissions

30-9A-506. Effect of errors or omissions.
(1) A financing statement substantially complying with the requirements of this part is effective, even if it includes minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.
(2) Except as otherwise provided in subsection (3), a financing statement that fails sufficiently to provide the name of the debtor in accordance with 30-9A-503(1) is seriously misleading.
(3) If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with 30-9A-503(1), the name provided does not make the financing statement seriously misleading.
(4) For purposes of 30-9A-508(2), the "debtor's correct name" in subsection (3) means the correct name of the new debtor.
History: En. Sec. 76, Ch. 305, L. 1999; Sec. 30-9-526, MCA 1999; redes. 30-9A-506 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-507. Effect of certain events on effectiveness of financing statement

30-9A-507. Effect of certain events on effectiveness of financing statement.
(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 30-9A-508 and subsection (3) of this section, 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 the standard set forth in 30-9A-506.
(3) If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under 30-9A-503(1) so that the financing statement becomes seriously misleading under the standard set forth in 30-9A-506:
(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; and
(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: En. Sec. 77, Ch. 305, L. 1999; Sec. 30-9-527, MCA 1999; redes. 30-9A-507 by Code Commissioner, 2001; amd. Sec. 13, Ch. 75, L. 2013.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-508. Effectiveness of financing statement if new debtor becomes bound by security agreement

30-9A-508. Effectiveness of financing statement if new debtor becomes bound by security agreement.
(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 the standard set forth in 30-9A-506:
(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 30-9A-203(4); and
(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 30-9A-203(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 30-9A-507(1).
History: En. Sec. 78, Ch. 305, L. 1999; Sec. 30-9-528, MCA 1999; redes. 30-9A-508 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-509. Persons entitled to file record

30-9A-509. Persons entitled to file record.
(1) A person may file an initial financing statement, an amendment that adds collateral covered by a financing statement, or an amendment that adds a debtor to a financing statement only if:
(a) the debtor authorizes the filing in an authenticated record or pursuant to subsection (2) or (3); or
(b) the person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.
(2) By authenticating a security agreement, a debtor authorizes the filing of an initial financing statement and an amendment covering:
(a) the collateral described in the security agreement; and
(b) property that becomes collateral under 30-9A-315(1)(b), whether or not the security agreement expressly covers proceeds.
(3) 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:
(a) the secured party of record authorizes the filing; or
(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 30-9A-513(1) or (3), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.
(4) If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under subsection (3).
History: En. Sec. 79, Ch. 305, L. 1999; amd. Sec. 16, Ch. 179, L. 2001; Sec. 30-9-529, MCA 1999; redes. 30-9A-509 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-510. Effectiveness of filed record

30-9A-510. Effectiveness of filed record.
(1) A filed record is effective only to the extent that it was filed by a person that may file it under 30-9A-509.
(2) A record authorized by one 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 30-9A-515(4) is ineffective.
History: En. Sec. 80, Ch. 305, L. 1999; Sec. 30-9-530, MCA 1999; redes. 30-9A-510 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-511. Secured party of record

30-9A-511. Secured party of record.
(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 30-9A-514(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 30-9A-514(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: En. Sec. 81, Ch. 305, L. 1999; Sec. 30-9-531, MCA 1999; redes. 30-9A-511 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-512. Amendment of financing statement

30-9A-512. Amendment of financing statement.
(1) Subject to 30-9A-509, 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:
(a) identifies, by its file number, the debtor, the creditor, and the initial financing statement to which the amendment relates; and
(b) if the amendment relates to an initial financing statement filed or recorded in a filing office described in 30-9A-501(1)(b), provides the date that the initial financing statement was filed or recorded and the information specified in 30-9A-502(2).
(2) Except as otherwise provided in 30-9A-515, 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 it:
(a) purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or
(b) purports to delete all secured parties of record and fails to provide the name of a new secured party of record.
History: En. Sec. 82, Ch. 305, L. 1999; Sec. 30-9-532, MCA 1999; redes. 30-9A-512 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-513. Termination statement

30-9A-513. Termination statement.
(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:
(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; or
(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:
(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; or
(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:
(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; or
(d) the debtor did not authorize the filing of the initial financing statement.
(4) Except as otherwise provided in 30-9A-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 30-9A-510, for purposes of 30-9A-519(7), 30-9A-522(1), and 30-9A-523(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: En. Sec. 83, Ch. 305, L. 1999; amd. Sec. 17, Ch. 179, L. 2001; Sec. 30-9-533, MCA 1999; redes. 30-9A-513 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-514. Assignment powers of secured party of record

30-9A-514. Assignment powers of secured party of record.
(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 by 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:
(a) identifies, by its file number, the initial financing statement to which it relates;
(b) provides the name of the assignor; and
(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 real property mortgage that is effective as a fixture filing under 30-9A-502(3) may be made only by an assignment of record of the mortgage in the manner provided by law of this state other than chapters 1 through 9A.
History: En. Sec. 84, Ch. 305, L. 1999; Sec. 30-9-534, MCA 1999; redes. 30-9A-514 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-515. Duration and effectiveness of financing statement -- effect of lapsed financing statement

30-9A-515. Duration and effectiveness of financing statement -- effect of lapsed financing statement.
(1) Except as otherwise provided in subsections (2), (5), (6), and (7), a filed financing statement is effective for a period of 5 years after the date of filing.
(2) Except as otherwise provided in subsections (5), (6), and (7), 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.
(3) 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 (4). 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 without filing. 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.
(4) A continuation statement may be filed only within 6 months before the expiration of the 5-year period specified in subsection (1) or the 30-year period specified in subsection (2), whichever is applicable.
(5) Except as otherwise provided in 30-9A-510, upon timely filing of a continuation statement, the effectiveness of the initial financing statement continues for a period of 5 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 5-year period, the financing statement lapses in the same manner as provided in subsection (3), unless, before the lapse, another continuation statement is filed pursuant to subsection (4). Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement.
(6) 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.
(7) A record of mortgage that is effective as a fixture filing under 30-9A-502(3) remains effective as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property.
History: En. Sec. 85, Ch. 305, L. 1999; Sec. 30-9-535, MCA 1999; redes. 30-9A-515 by Code Commissioner, 2001; amd. Sec. 14, Ch. 75, L. 2013.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-517. Effect of indexing errors

30-9A-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: En. Sec. 87, Ch. 305, L. 1999; Sec. 30-9-537, MCA 1999; redes. 30-9A-517 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-518. Claim concerning inaccurate or wrongfully filed record

30-9A-518. Claim concerning inaccurate or wrongfully filed record.
(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:
(a) identify the record to which it relates by:
(i) the file number assigned to the initial financing statement to which the record relates; and
(ii) if the information statement relates to a record filed in a filing office described in 30-9A-501(1)(a), the date that the initial financing statement was filed or recorded and the information specified in 30-9A-502(2);
(b) indicate that it is an information statement; and
(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 30-9A-509(4).
(4) An information statement under subsection (3) must:
(a) identify the record to which it relates by:
(i) the file number assigned to the initial financing statement to which the record relates; and
(ii) if the information statement relates to a record filed in a filing office described in 30-9A-501(1)(a), the date that the initial financing statement was filed and the information specified in 30-9A-502(2);
(b) indicate that it is an information statement; and
(c) provide the basis for the person's belief that the person that filed the record was not entitled to do so under 30-9A-509(4).
(5) The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record.
History: En. Sec. 88, Ch. 305, L. 1999; Sec. 30-9-538, MCA 1999; redes. 30-9A-518 by Code Commissioner, 2001; amd. Sec. 16, Ch. 75, L. 2013.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-520. Acceptance and refusal to record

30-9A-520. Acceptance and refusal to record.
(1) A filing office shall refuse to accept a record for filing for a reason set forth in 30-9A-502 and 30-9A-516(2) and may refuse to accept a record for filing only for a reason set forth in 30-9A-502 and 30-9A-516(2).
(2) 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 2 business days after the filing office receives the record.
(3) A filed financing statement complying with 30-9A-502(1) and (2) is effective, even if the filing office is required to refuse to accept it for filing under subsection (1). However, 30-9A-338 applies to a filed financing statement providing information described in 30-9A-516(2)(e) that is incorrect at the time the financing statement is filed.
(4) 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: En. Sec. 90, Ch. 305, L. 1999; Sec. 30-9-540, MCA 1999; redes. 30-9A-520 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-521. Uniform form of written financing statement and amendment

30-9A-521. Uniform form of written financing statement and amendment.
(1) A filing office that accepts written records may not refuse to accept a written initial financing statement in the form and format set forth in the official text of the 2010 amendments to Article 9 of the Uniform Commercial Code promulgated by The American Law Institute and the National Conference of Commissioners on Uniform State Laws, except for a reason set forth in 30-9A-516(2).
(2) A filing office that accepts written records may not refuse to accept a written record in the form and format set forth as Form UCC3 and Form UCC3Ad in the final official text of the 2010 amendments to Article 9 of the Uniform Commercial Code promulgated by The American Law Institute and the National Conference of Commissioners on Uniform State Laws, except for a reason set forth in 30-9A-516(2).
History: En. Sec. 91, Ch. 305, L. 1999; Sec. 30-9-541, MCA 1999; redes. 30-9A-521 by Code Commissioner, 2001; amd. Sec. 17, Ch. 75, L. 2013.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-522. Maintenance and destruction of records

30-9A-522. Maintenance and destruction of records.
(1) Subject to the requirements of Title 2, chapter 6, part 11, 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 filed financing statement has lapsed under 30-9A-515 with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and:
(a) if the record was filed or recorded in the filing office described in 30-9A-501(1)(a), by using the file number assigned to the initial financing statement to which the record relates and the date and time that the record was filed or recorded; or
(b) if the record was filed or recorded in the filing office described in 30-9A-501(1)(b), by using the date and time 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 may immediately 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: En. Sec. 92, Ch. 305, L. 1999; Sec. 30-9-542, MCA 1999; redes. 30-9A-522 by Code Commissioner, 2001; amd. Sec. 48, Ch. 348, L. 2015.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-523. Information from filing office -- sale or license of records

30-9A-523. Information from filing office -- sale or license of records.
(1) 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 30-9A-519(1)(a) 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:
(a) note upon the copy the number assigned to the record pursuant to 30-9A-519(1)(a) and the date and time of the filing of the record; and
(b) send the copy to the person.
(2) If a person files a record other than a written record, the filing office shall communicate to the person an acknowledgment that provides:
(a) the information in the record;
(b) the number assigned to the record pursuant to 30-9A-519(1)(a); and
(c) the date and time of the filing of the record.
(3) The filing office shall communicate or otherwise make available in a record the following information to any person that requests it:
(a) whether there is on file on a date and time specified by the filing office, but not a date earlier than 3 business days before the filing office receives the request, any financing statement that:
(i) designates a particular debtor;
(ii) has not lapsed under 30-9A-515 with respect to all secured parties of record; and
(iii) if the request so states, has lapsed under 30-9A-515 and a record of which is maintained by the filing office under 30-9A-522(1);
(b) the date and time of filing of each financing statement; and
(c) the information provided in each financing statement.
(4) In complying with its duty under subsection (3), the filing office may communicate information in any medium. However, if requested, the filing office shall communicate information by issuing a record that can be admitted into evidence in the courts of this state without extrinsic evidence of its authenticity.
(5) The filing office shall perform the acts required by subsections (1) through (4) at the time and in the manner prescribed by filing-office rule, but not later than 2 business days after the filing office receives the request.
(6) At least weekly, the filing office 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 a reasonable form or medium from time to time available to the filing office.
History: En. Sec. 93, Ch. 305, L. 1999; Sec. 30-9-543, MCA 1999; redes. 30-9A-523 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-524. Delay by filing office

30-9A-524. Delay by filing office.
Delay by the filing office beyond a time limit prescribed in 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 the control of the filing office; and
(2) the filing office exercises reasonable diligence under the circumstances.
History: En. Sec. 94, Ch. 305, L. 1999; Sec. 30-9-544, MCA 1999; redes. 30-9A-524 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-525. Fees

30-9A-525. Fees.
(1) Except as otherwise provided in subsections (2) and (3), the fee for each of the following must be set and deposited by the secretary of state as prescribed in 2-15-405:
(a) filing and indexing a record under this part, other than an initial financing statement filed in connection with a public-finance transaction or a manufactured-home transaction;
(b) filing and indexing an initial financing statement of the kind described in 30-9A-502(3); and
(c) responding to a request for information from the filing office, including for communicating whether there is on file any financing statement naming a particular debtor.
(2) This section does not require a fee with respect to a record of mortgage that 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 30-9A-502(3). However, the recording and satisfaction fees that otherwise would be applicable to the record of mortgage apply.
(3) The secretary of state shall charge a fee commensurate with current filing fees to file and index a financing statement or related record for a transaction that involves collateral that is located within the boundaries of an Indian reservation and that is subject to the laws of the governing body of the tribe or tribes of the Indian reservation.
History: En. Sec. 95, Ch. 305, L. 1999; amd. Sec. 18, Ch. 179, L. 2001; amd. Secs. 14, 29(1), Ch. 396, L. 2001; Sec. 30-9-545, MCA 1999; redes. 30-9A-525 by Code Commissioner, 2001; amd. Sec. 1, Ch. 568, L. 2023.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-526. Filing-office rules

30-9A-526. Filing-office rules.
(1) The secretary of state shall adopt and publish rules to carry out the provisions of this chapter. The filing-office rules must be:
(a) consistent with this chapter; and
(b) adopted and published in accordance with Title 2, chapter 4.
(2) To keep the filing-office rules and practices of the filing office in harmony with the rules and practices of filing offices in other jurisdictions that enact substantially this part and to keep the technology used by the filing office compatible with the technology used by filing offices in other jurisdictions that enact substantially this part, the secretary of state, so far as is consistent with the purposes, policies, and provisions of this chapter, in adopting, amending, and repealing filing-office rules shall:
(a) consult with filing offices in other jurisdictions that enact substantially this part;
(b) consult the most recent version of the model rules promulgated by the international association of corporate administrators or any successor organization; and
(c) take into consideration the rules and practices of and the technology used by filing offices in other jurisdictions that enact substantially this part.
History: En. Sec. 96, Ch. 305, L. 1999; Sec. 30-9-546, MCA 1999; redes. 30-9A-526 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 5. Filing › 30-9A-527. Duty to report

30-9A-527. Duty to report.
If there have been any changes affecting filing-office rules, the secretary of state shall report to the state administration and veterans' affairs interim committee by September 15 in the year preceding the regular legislative session on the operation of the filing office. The report must contain a statement of the extent to which:
(1) the filing-office rules are not in harmony with the rules of filing offices in other jurisdictions that enact substantially this part and the reasons for these variations; and
(2) the filing-office rules are not in harmony with the most recent version of the model rules promulgated by the international association of corporate administrators or any successor organization and the reasons for these variations.
History: En. Sec. 97, Ch. 305, L. 1999; Sec. 30-9-547, MCA 1999; redes. 30-9A-527 by Code Commissioner, 2001; amd. Sec. 7, Ch. 155, L. 2013.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 6. Default › 30-9A-601. Rights after default -- judicial enforcement -- consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes

30-9A-601. Rights after default -- judicial enforcement -- consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.
(1) After default, a secured party has the rights provided in this part and, except as otherwise provided in 30-9A-602, those provided by agreement of the parties. A secured party:
(a) may reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest, or agricultural lien by any available judicial procedure; and
(b) if the collateral is documents, may proceed either as to the documents or as to the goods they cover.
(2) A secured party in possession of collateral or control of collateral under 30-7-107, 30-9A-104, 30-9A-105, 30-9A-106, or 30-9A-107 has the rights and duties provided in 30-9A-207.
(3) The rights under subsections (1) and (2) are cumulative and may be exercised simultaneously.
(4) Except as otherwise provided in 30-9A-605 and subsection (7) of this section, after default, a debtor and an obligor have the rights provided in this part and by agreement of the parties.
(5) If a secured party has reduced its claim to judgment, the lien of any levy that may be made upon the collateral by virtue of an execution based upon the judgment relates back to the earliest of:
(a) the date of perfection of the security interest or agricultural lien in the collateral;
(b) the date of filing a financing statement covering the collateral; or
(c) any date specified in a statute under which the agricultural lien was created.
(6) A sale pursuant to an execution is a foreclosure of the security interest or agricultural lien by judicial procedure within the meaning of this section. A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this chapter.
(7) Except as otherwise provided in 30-9A-607(3), this part imposes no duties upon a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or promissory notes.
History: En. Sec. 98, Ch. 305, L. 1999; Sec. 30-9-601, MCA 1999; redes. 30-9A-601 by Code Commissioner, 2001; amd. Sec. 85, Ch. 575, L. 2005.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 6. Default › 30-9A-602. Waiver and variance of rights and duties

30-9A-602. Waiver and variance of rights and duties.
Except as provided in 30-9A-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) 30-9A-207(2)(d)(iii), which deals with use and operation of the collateral by the secured party;
(2) 30-9A-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3) 30-9A-607(3), which deals with collection and enforcement of collateral;
(4) 30-9A-608(1) and 30-9A-615(3) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) 30-9A-608(1) and 30-9A-615(4) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) 30-9A-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) 30-9A-610(2), 30-9A-611, 30-9A-613, and 30-9A-614, which deal with disposition of collateral;
(8) 30-9A-615(6), 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) 30-9A-616, which deals with explanation of the calculation of a surplus or deficiency;
(10) 30-9A-620 through 30-9A-622, which deal with acceptance of collateral in satisfaction of obligation;
(11) 30-9A-623, which deals with redemption of collateral;
(12) 30-9A-624, which deals with permissible waivers; and
(13) 30-9A-625 and 30-9A-626, which deal with the secured party's liability for failure to comply with this chapter.
History: En. Sec. 99, Ch. 305, L. 1999; Sec. 30-9-602, MCA 1999; redes. 30-9A-602 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 6. Default › 30-9A-603. Agreement on standards concerning rights and duties

30-9A-603. Agreement on standards concerning rights and duties.
(1) 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 if the standards are not manifestly unreasonable.
(2) Subsection (1) does not apply to the duty under 30-9A-609 to refrain from breaching the peace.
History: En. Sec. 100, Ch. 305, L. 1999; Sec. 30-9-603, MCA 1999; redes. 30-9A-603 by Code Commissioner, 2001.
2023 Montana Code Annotated › Title 30. Trade and Commerce › Chapter 9A. Uniform Commercial Code Secured Transactions › Part 6. Default › 30-9A-604. Procedure if security agreement covers real property or fixtures

30-9A-604. Procedure if security agreement covers real property or fixtures.
(1) If a security agreement covers both personal and real property, a secured party may proceed:
(a) under this part as to the personal property without prejudicing any rights and remedies with respect to the real property; or
(b) as to both the personal property and the real property in accordance with the rights and remedies with respect to the real property, in which case the other provisions of this part do not apply.
(2) Subject to subsection (3), if a security agreement covers goods that are or become fixtures, a secured party may proceed:
(a) under this part; or
(b) in accordance with the rights and remedies with respect to real property, in which case the other provisions of this part do not apply.
(3) 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, on default, may remove the collateral from the real property.
(4) 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: En. Sec. 101, Ch. 305, L. 1999; Sec. 30-9-604, MCA 1999; redes. 30-9A-604 by Code Commissioner, 2001.