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Laws of North Carolina (Last Updated: May 12, 2015) |
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Chapter25. Uniform Commercial Code. |
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Article9. Secured Transactions |
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Part5. FILING |
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SUBPART1. Filing Office; Contents and Effectiveness of Financing Statement. |
§25-9-511. Secured party of record
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(a) Secured party of record. - 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 G.S. 25-9-514(a), the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.
(b) Amendment naming secured party of record. - If an amendment of a financing statement which provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under G.S. 25-9-514(b), the assignee named in the amendment is a secured party of record.
(c) Amendment deleting secured party of record. - A person remains a secured party of record until the filing of an amendment of the financing statement which deletes the person.