This section of the Minnesota Statutes, specifically under the Uniform Commercial Code, governs the effectiveness of a financing statement if a new debtor becomes bound by a security agreement. It states that a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights, to the extent that the financing statement would have been effective if the original debtor acquired rights in the collateral.

This legal document governs the filing of initial financing statements, amendments that add collateral or debtors to financing statements, and termination statements under the Uniform Commercial Code (UCC). It specifies that a person may file an initial financing statement, amendment, or termination statement if the debtor authorizes the filing, or if the person holds an agricultural lien that has become effective. The document also outlines that by authenticating or becoming bound as a debtor by a security agreement, a debtor authorizes the filing of an initial financing statement or amendment covering the collateral described in the security agreement.

(a) Filed record effective if authorized. A filed record is effective only to the extent that it was filed by a person that may file it under section 336.9-509 or by the filing office under section 336.9-5135 . (b) Authorization by one secured party of record. A record authorized by one secured party of record does not affect the financing statement with respect to another secured party of record. (c) Continuation statement not timely filed.

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.

This legal document pertains to the amendment of information in a financing statement. It allows a person to add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in a financing statement. The amendment must identify the file number of the initial financing statement and provide the necessary information if the amendment relates to an initial financing statement filed or recorded in a specific filing office.

This legal document governs the termination of financing statements under the Uniform Commercial Code (UCC) for consumer goods and other collateral. It applies to secured parties and debtors involved in financing statements for consumer goods and other collateral. The document outlines the requirements for filing a termination statement, including situations where there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value.

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 legal document, under the Minnesota Statutes, falls under the Trade Regulations and Consumer Protection section of the Uniform Commercial Code (UCC). It governs the duration and effectiveness of financing statements. According to the document, a filed financing statement is effective for a period of five years, unless specified otherwise. An initial financing statement filed in connection with a public finance transaction or manufactured home transaction is effective for 30 years.

This legal document pertains to the filing and effectiveness of filing under the Uniform Commercial Code (UCC) in Minnesota. It specifies that communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing, unless otherwise provided. The document outlines various circumstances where filing does not occur, such as when the filing office refuses to accept a record due to reasons like improper communication method, insufficient information, or unlawful intent.

The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record. History: 2000 c 399 art 1 s 88