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Can you summarize IACO 554.9511?
UNIFORM COMMERCIAL CODE > Secured party of record.
Short Summary
This legal document pertains to the concept of a secured party of record in the context of financing statements. It outlines the criteria for determining the secured party of record in an initial financing statement and in amendments to financing statements. The secured party of record is the person or assignee named in the initial financing statement or amendment. The document also states that a person remains a secured party of record until their name is deleted through an amendment of the financing statement. This document is governed by the Iowa Code, specifically the Uniform Commercial Code under the Commerce section.
Whom does it apply to?
Persons involved in financing statements and amendments
What does it govern?
Secured party of record
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Iowa