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Can you summarize MNST 336.9-310?
UNIFORM COMMERCIAL CODE > WHEN FILING REQUIRED TO PERFECT SECURITY INTEREST OR AGRICULTURAL LIEN; SECURITY INTERESTS AND AGRICULTURAL LIENS TO WHICH FILING PROVISIONS DO NOT APPLY.
Short Summary
This legal document, part of the Minnesota Statutes’ Uniform Commercial Code, addresses the requirements for filing to perfect security interests and agricultural liens. In general, a financing statement must be filed to perfect these interests, unless specific exemptions apply. The exemptions include security interests that are perfected through other means, such as possession or control, and certain types of collateral. The document also clarifies that the assignment of a perfected security interest or agricultural lien does not require a new filing to maintain its perfected status against creditors and transferees. No penalties are mentioned in this document.
Whom does it apply to?
Creditors and secured parties
What does it govern?
Security interests and agricultural liens
What are exemptions?
There are several exemptions listed in subsection (b) of the document, including security interests that are perfected through other means, such as possession or control, and certain types of collateral.
What are the Penalties?
No penalties are mentioned in this document.
Jurisdiction
Minnesota