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Can you summarize IACO 554.9501?
UNIFORM COMMERCIAL CODE > Filing office.
Short Summary
This legal document pertains to the filing of financing statements to perfect security interests or agricultural liens. The document specifies the designated filing offices based on the type of collateral and the nature of the financing statement. If the collateral is as-extracted collateral or timber to be cut, or if the financing statement is filed as a fixture filing and the collateral is goods that are or are to become fixtures, the filing should be made at the office designated for filing or recording a mortgage on the related real property. In all other cases, including when the collateral is goods that are or are to become fixtures and the financing statement is not filed as a fixture filing, the filing should be made at the office of the secretary of state. However, for transmitting utilities, the office of the secretary of state is the designated filing office for financing statements to perfect security interests in collateral, including fixtures. The financing statement also serves as a fixture filing for the indicated collateral that is or is to become fixtures.
Whom does it apply to?
Creditors seeking to perfect a security interest or agricultural lien
What does it govern?
Perfection of security interests and agricultural liens
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Iowa