TITLE XXXIV-A
UNIFORM COMMERCIAL CODE

CHAPTER 382-A
UNIFORM COMMERCIAL CODE

ARTICLE 9
SECURED TRANSACTIONS

Part 5
Filing

Filing Office; Contents and Effectiveness of Financing Statement

Section 382-A:9-514

    382-A:9-514 Assignment of Powers of Secured Party of Record. –
(a) Assignment reflected on initial financing statement. 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 of the secured party.
(b) Assignment of filed financing statement. Except as otherwise provided in subsection (c), a secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement which:
(1) provides the information specified in Section 9-512(a);
(2) provides the name of the assignor; and
(3) provides the name and mailing address of the assignee.
(c) Assignment of mortgage. An assignment of record of a security interest in a fixture covered by a record of a mortgage which is effective as a financing statement filed as a fixture filing under Section 9-502(c) may be made only by an assignment of record of the mortgage in the manner provided by law of this State other than this chapter.

Source. 2001, 102:25, eff. July 1, 2001.