LegalFix
Sign In

30-9A-514. Assignment powers of secured party of record

MT Code § 30-9A-514 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

30-9A-514. Assignment powers of secured party of record. (1) Except as otherwise provided in subsection (3), 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.

(2) Except as otherwise provided in subsection (3), 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 that:

(a) identifies, by its file number, the initial financing statement to which it relates;

(b) provides the name of the assignor; and

(c) provides the name and mailing address of the assignee.

(3) An assignment of record of a security interest in a fixture covered by a real property mortgage that is effective as a fixture filing under 30-9A-502(3) may be made only by an assignment of record of the mortgage in the manner provided by law of this state other than chapters 1 through 9A.

History: En. Sec. 84, Ch. 305, L. 1999; Sec. 30-9-534, MCA 1999; redes. 30-9A-514 by Code Commissioner, 2001.

Previous Section
30-9A-513. Termination statement
Next Section
30-9A-515. Duration and effectiveness of financing statement -- effect of lapsed financing statement