Title 57A — UNIFORM COMMERCIAL CODE

(a) Except as otherwise provided in subsection (c), a bank with which a deposit account is maintained may exercise any right of recoupment or set - off against a secured party that holds a security interest in the deposit account. (b) Except as otherwise provided in subsection (c…

Except as otherwise provided in § 57A-9-340 (c), and unless the bank otherwise agrees in a signed record, a bank's rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by: (1) The creation, attachment, or perfecti…

This chapter does not require a bank to enter into an agreement of the kind described in § 57A-9-104(a)(2), even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unle…

(a) Except as otherwise provided in subsection (b) and §§ 57A-9-406 , 57A-9-407 , 57A-9-408 , and 57A-9-409 , whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article. (b) An agreement between the debtor an…

57A-9-403 "Value"--Agreement not to assert claims or defenses against assignee. 57A-9-403.1 57A-9-403.1 to 57A-9-403.5. Repealed by SL 1982, ch 347 , §§ 39 to 43 57A-9-404 Rights acquired by assignee--Claims and defenses against assignee. 57A-9-405 Effect of modification or subst…

The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions. Source: SL 2000, ch 231 .

(a) In this section, "value" has the meaning provided in § 57A-3-303(a). (b) Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee any claim or defense that the account debtor may have against the as…

(a) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to subsections (b) through (e), the rights of an assignee are subject to: (1) All terms of the agreement between the account debtor and assignor and any defense or claim i…

(a) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a brea…

(a) Subject to subsections (b) through (i) and (l), an account debtor on an account, chattel paper, or a payment intangible may discharge its obligation by paying the assignor until, but not after, the account debtor receives a notification, signed by the assignor or the assignee…

(a) Except as otherwise provided in subsection (b), a term in a lease agreement is ineffective to the extent that it: (1) Prohibits, restricts, or requires the consent of a party to the lease to the assignment or transfer of, or the creation, attachment, perfection, or enforcemen…

(a) Except as otherwise provided in subsections (b) and (f), a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health-care-insurance receivable or a general intangible, including a contract, permit, license, or franchise, and…

(a) A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit which prohibits, restricts, or requires the consent of an applicant, issuer, or nominated person to a beneficiary's assignment of or creation of a securi…

(a) Except as otherwise provided in subsection (b), if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is: (1) The office designated…

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…