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Can you summarize MNST 336.9-514?
UNIFORM COMMERCIAL CODE > ASSIGNMENT OF POWERS OF SECURED PARTY OF RECORD.
Short Summary
This legal document pertains to the assignment of powers of a secured party of record. It outlines the procedures for reflecting an assignment on an initial financing statement and assigning of record all or part of the power to authorize an amendment to a financing statement. The document specifies that an assignment of record of a security interest in a fixture covered by a record of a mortgage can only be made through an assignment of record of the mortgage as provided by the law of the state. This document falls under the Trade Regulations and Consumer Protection section of the Minnesota Statutes, specifically the Uniform Commercial Code.
Whom does it apply to?
Secured parties of record
What does it govern?
Assignment of powers of secured party of record
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota