Title 57A — UNIFORM COMMERCIAL CODE

All statements to continue, release, assign, amend or terminate any financing statements filed subsequent to December 31, 1979, and prior to July 1, 1980, notwithstanding any noncompliance with § 57A-9-401.1 as amended, are hereby cured, legalized and validated as fully as if suc…

The secretary of state shall maintain a program granting a secured party access through the state's computer system to record liens on real property pursuant to §

(a) Subject to subsection (b), a financing statement is sufficient only if it: (1) Provides the name of the debtor and either the social security number or the internal revenue service taxpayer identification number of the debtor; (2) Provides the name of the secured party or a r…

(a) A financing statement sufficiently provides the name of the debtor: (1) Except as otherwise provided in paragraph (3), if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides t…

A financing statement sufficiently indicates the collateral that it covers if the financing statement provides: (1) A description of the collateral pursuant to § 57A-9-108 ; or (2) An indication that the financing statement covers all assets or all personal property. Source: SL 2…

(a) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in § 57A-9-311(a), using the terms "consignor", "consignee", "lessor", "lessee", "…

(a) A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading. (b) Except as otherwise provided in subsection (c), a financi…

(a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition. (b)…

(a) Except as otherwise provided in this section, 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 had …

(a) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if: (1) The debtor authorizes the filing in a signed record or pursuant to subsection (b) or (c); o…

(a) A filed record is effective only to the extent that it was filed by a person that may file it under §

(a) A secured party of record with respect to a financing statement 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 initial financing statement is filed under…

(a) Subject to § 57A-9-509 , a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e), otherwise amend the information provided in, a financing statement by filing an amendment that: (1) Identifies, by its file nu…

(a) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and: (1) There is no obligation secured by the collateral covered by the financing st…

(a) Except as otherwise provided in subsection (c), an initial financing statement may reflect an assignment of all of the secured party's power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address …

(a) Except as otherwise provided in subsections (b), (e), (f), and (g), a filed financing statement is effective for a period of five years after the date of filing. Financing statements filed before July 1, 1997, are effective for a period of five years from the date of filing a…

(a) Except as otherwise provided in subsection (b), 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. (b) Filing does not occur with respect to a record that a filing office refuses to ac…

The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record. Source: SL 2000, ch 231 .

(a) A person may file in the filing office an information statement with respect to a record indexed there under the person's name if the person believes that the record is inaccurate or was wrongfully filed. (b) An information statement under subsection (a) must: (1) Identify th…

(a) For each record filed in a filing office, the filing office shall: (1) Assign a unique number to the filed record; (2) Create a record that bears the number assigned to the filed record and the date and time of filing; (3) Maintain the filed record for public inspection; and …

(a) A filing office shall refuse to accept a record for filing for a reason set forth in § 57A-9-516(b) and may refuse to accept a record for filing only for a reason set forth in § 57A-9-516(b). (b) If a filing office refuses to accept a record for filing, it shall communicate t…

(a) A filing office that accepts written records may not refuse to accept a written initial financing statement in the following form and format except for a reason set forth in § 57A-9-516(b). (b) A filing office that accepts written records may not refuse to accept a written re…

(a) The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under § 57A-9-515 with respect to all secured parties of record. The record must be retriev…

(a) If a person that files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image of the record showing the number assigned to the record pursuant to § 57A-9-519(a)(1) and the date and time of the filing of the record. Howev…

Delay by the filing office beyond a time limit prescribed by this part is excused if: (1) The delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing office; and …

(a) Except as otherwise provided in subsection (e), the fee for filing and indexing a record under this part, other than an initial financing statement of the kind described in subsection (b), is the amount specified in subsection (c), if applicable, plus: (1) Twenty-five dollars…

For the purposes of former § 57A-9-401 , a filing made in the county office of register of deeds prior to July 1, 1986, which has not lapsed prior to July 1, 1986, shall remain effective for the period provided by this title. Any continuation of or amendment to such filing shall …

The secretary of state may promulgate all necessary regulations under the provisions of chapter 1-26 to implement a central filing system for filing financing statements. Source: SL 2000, ch 231 .

The secretary of state may adopt rules concerning the operation of the central agricultural security interest computer filing system, prescribing such matters as format for data and the type of information to be recorded from the financing statement. Source: SL 2000, ch 231 .

The annual registration fee for the crop or livestock effective finance statement microfiche master list is one hundred twenty dollars. Source: SL 2003, ch 8 , § 30.

(40) "Fixture filing" means the filing of a financing statement covering goods that are or are to become fixtures and satisfying § 57A-9-502 (a) and (b). The term includes the filing of a financing statement covering goods of a transmitting utility which are or are to become fixt…

There is hereby created, within the state treasury, the financing statement and annual report filing fee fund, which is continuously appropriated, to provide funds for the operation of the uniform commercial code program and business services electronic filing and retrieval syste…

For each effective financing statement filed under this chapter, three dollars of the fee collected pursuant to § 57A-9-525 must be deposited in the financing statement and annual report filing fee fund. Except for a nonprofit, for each annual report filed pursuant to § 59-11-24 …

At the end of each fiscal year, any funds in the financing statement and annual report filing fee fund, not otherwise appropriated, in excess of fifty thousand dollars, revert to the general fund. Source: SL 2001, ch 262 , § 4; SL 2009, ch 256 , § 4; SL 2025, ch 189 , § 7.

If a filed financing or continuation statement covers farm products or accounts, or livestock, or general intangibles arising from or relating to the sale of farm products by a farmer, or crops growing or to be grown, the secured party may file a standard form to be prescribed by…

(a) After default, a secured party has the rights provided in this part and, except as otherwise provided in § 57A-9-602 , those provided by agreement of the parties. A secured party: (1) May reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest…

Except as otherwise provided in § 57A-9-624 , to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections: (1) Section 57A-9-207(b)(4)(C), which deal…

(a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in § 57A-9-602 if the standards are not manifestly unreasonable. (b) Subsection (a) does not apply to the …

(a) If a security agreement covers both personal and real property, a secured party may proceed: (1) Under this part as to the personal property without prejudicing any rights with respect to the real property; or (2) As to both the personal property and the real property in acco…

(a) Except as provided in subsection (b), a secured party does not owe a duty based on its status as secured party: (1) To a person that is a debtor or obligor, unless the secured party knows: (A) That the person is a debtor or obligor; (B) The identity of the person; and (C) How…

For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created. Source: SL 2000, ch 231 .

(a) If so agreed, and in any event after default, a secured party: (1) May notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party; (2) May take any proceeds to which the secured p…

(a) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under § 57A-9-607 in the following order to: (A) …

(a) After default, a secured party: (1) May take possession of the collateral; and (2) Without removal, may render equipment unusable and dispose of collateral on a debtor's premises under §

No cause of action for recovery of security or its value may be commenced by a secured creditor against an innocent third - party purchaser of farm products as defined in subsection (34) of § 57A-9-102 , nor may such a cause of action be commenced against a livestock auction agen…

Any person who for himself, or through an agent, sells livestock through a livestock auction agency, as defined in chapter 40-15 and § 301 of the Packers and Stockyards Act (7 USC 201), or who so sells grain through a public grain warehouse, or through a public terminal grain war…

(c) To comply with subsection (a)(1)(B), an explanation must provide the following information in the following order: (1) The aggregate amount of obligations secured by the security interest under which the disposition was made, and, if the amount reflects a rebate of unearned i…

(a) In this section, "notification date" means the earlier of the date on which: (1) A secured party sends to the debtor and any secondary obligor a signed notification of disposition; or (2) The debtor and any secondary obligor waive the right to notification. (b) Except as othe…

(a) Except as otherwise provided in subsection (b), whether a notification is sent within a reasonable time is a question of fact. (b) In a transaction other than a consumer transaction, a notification of disposition sent after default and ten days or more before the earliest tim…

(a) Except in a consumer - goods transaction, the following rules apply: (1) The contents of a notification of disposition are sufficient if the notification: (A) Describes the debtor and the secured party; (B) Describes the collateral that is the subject of the intended disposit…