Title 57A, UNIFORM COMMERCIAL CODE

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.

(a) The secretary of state shall adopt rules to implement this chapter. The filing - office rules must be: (1) Consistent with this chapter; and (2) Adopted and published in accordance with chapter 1-26 . (b) To keep the filing - office rules and practices of the filing office in…

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 § 57A-9-610 . (b) A secured party may proceed under subsection (a): (1) Pursuant to judicia…

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…

(a) After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing . (b) Every aspect of a disposition of collateral, including the method, m…

(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…

(a) In a consumer - goods transaction, the following rules apply: (1) A notification of disposition must provide the following information: (A) The information specified in § 57A-9-613 (a)(1); (B) A description of any liability for a deficiency of the person to which the notifica…

(a) A secured party shall apply or pay over for application the cash proceeds of disposition under § 57A-9-610 in the following order to: (1) The reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, to the extent provided for by agr…

(a) In this section: (1) "Explanation" means a record that: (A) States the amount of the surplus or deficiency; (B) Provides an explanation in accordance with subsection (c) of how the secured party calculated the surplus or deficiency; (C) States, if applicable, that future debi…

(a) A secured party's disposition of collateral after default: (1) Transfers to a transferee for value all of the debtor's rights in the collateral; (2) Discharges the security interest under which the disposition is made; and (3) Discharges any subordinate security interest or o…

(a) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (1) Receives an assignment of a secured obligation from the secured party; (2) Receives a transfer of collateral from the secured party and ag…

(a) In this section, "transfer statement" means a record signed by a secured party stating: (1) That the debtor has defaulted in connection with an obligation secured by specified collateral; (2) That the secured party has exercised its post - default remedies with respect to the…

(a) Except as otherwise provided in subsection (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if: (1) The debtor consents to the acceptance under subsection (c); (2) The secured party does not receive, within the time …

(a) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: (1) Any person from which the secured party has received, before the debtor consented to the acceptance, a signed notification of a claim…

(a) A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures: (1) Discharges the obligation to the extent consented to by the debtor; (2) Transfers to the secured party all of a debtor's rights in the collateral; (3) Discharges the s…

(a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (b) To redeem collateral, a person shall tender: (1) Fulfillment of all obligations secured by the collateral; and (2) The reasonable expenses and attorney's fees described in § 5…

(a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under § 57A-9-611 only by an agreement to that effect entered into and signed after default. (b) A debtor may waive the right to require disposition of collateral under § 57A-9-620 …

(a) If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions. (b) Subject to subsections (c) and (d) a person is liable for …

(a) In an action arising from a transaction in which the amount of a deficiency or surplus is in issue, the following rules apply: (1) A secured party need not prove compliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance unless…

(a) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing th…

(a) Subject to subsection (f), unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person: (1) The secured party is not liable to the person, or to a secured party or lienholder that has filed …

This chapter is effective on July 1, 2001, and on July 1, 2001, chapter 57A-9 is repealed. Source: SL 2000, ch 231 .

(a) Except as otherwise provided in this part, this chapter applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2001. (b) Except as otherwise provided in subsection (c) and §§ 57A-9-703 through 57A-9-709 : …

(a) A security interest that is enforceable immediately before July 1, 2001, and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this chapter if, on July 1, 2001, the applicable requirements for enfo…

A security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (1) Remains an enforceable security interest for one year after July 1, 2001; (2) Remains enforceable there…

(a) If action, other than the filing of a financing statement, is taken before July 1, 2001, and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien creditor had the security interest become enforceable before July 1, …