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Can you summarize MNST 336.9-511?
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. A secured party of record 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 amendment of a financing statement is filed, the person named in the amendment becomes a secured party of record. 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 Minnesota Statutes under the section on Trade Regulations and Consumer Protection, specifically the Uniform Commercial Code.
Whom does it apply to?
Persons involved in financing statements
What does it govern?
Secured party of record
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota