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Can you summarize MNST 336.9-805?
UNIFORM COMMERCIAL CODE > EFFECTIVENESS OF ACTION TAKEN BEFORE EFFECTIVE DATE.
Short Summary
This legal document addresses the effectiveness of actions taken before the effective date of Laws 2011, chapter 31, under the Minnesota Statutes. It states that the filing of a financing statement before the effective date is effective to perfect a security interest to the extent it satisfies the applicable requirements for perfection under article 9 as amended by Laws 2011, chapter 31. It also clarifies that Laws 2011, chapter 31, does not render ineffective an effective financing statement filed before its effective date, as long as it satisfies the applicable requirements for perfection under the previous version of article 9. The document further explains the circumstances under which a financing statement ceases to be effective, depending on whether it is filed in the state or another jurisdiction. It also discusses the filing of continuation statements and their impact on the effectiveness of financing statements filed before Laws 2011, chapter 31. Additionally, it addresses the application of subsection (b)(2)(B) to transmitting utility financing statements and the application of Part 5 to financing statements filed before and after the effective date of Laws 2011, chapter 31.
Whom does it apply to?
This document applies to individuals and entities involved in filing financing statements and seeking perfection of security interests under article 9 of the Uniform Commercial Code.
What does it govern?
This legal document governs the effectiveness of actions taken before the effective date of Laws 2011, chapter 31, under the Minnesota Statutes, specifically related to trade regulations, consumer protection, and the Uniform Commercial Code.
What are exemptions?
There are no specific exemptions mentioned in this document.
What are the Penalties?
No penalties are mentioned in this document.
Jurisdiction
Minnesota