Arizona Laws 47-9514. Assignment of powers of secured party of record
A. Except as otherwise provided in subsection C of this section, 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.
Terms Used In Arizona Laws 47-9514
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- File number: means the number assigned to an initial financing statement pursuant to section 47-9519, subsection A. See Arizona Laws 47-9102
- Filing office: means an office designated in section 47-9501 as the place to file a financing statement. See Arizona Laws 47-9102
- Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Arizona Laws 47-9102
- Fixture filing: means the filing of a financing statement covering goods that are or are to become fixtures and satisfying section 47-9502, subsections A and B. See Arizona Laws 47-9102
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage: means a consensual interest in real property, including fixtures, that secures payment or performance of an obligation. See Arizona Laws 47-9102
- Secured party: means :
(a) A person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding;
(b) A person that holds an agricultural lien;
(c) A consignor;
(d) A person to which accounts, chattel paper, payment intangibles or promissory notes have been sold;
(e) A trustee, indenture trustee, agent, collateral agent or other representative in whose favor a security interest or agricultural lien is created or provided for; or
(f) A person that holds a security interest arising under section 47-2401, 47-2505, 47-2711, 47-2A508, 47-4210 or 47-5118. See Arizona Laws 47-9102
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See Arizona Laws 47-9102
B. Except as otherwise provided in subsection C of this section, 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:
1. Identifies, by its file number, the initial financing statement to which it relates;
2. Provides the name of the assignor; and
3. Provides the name and mailing address of the assignee.
C. An assignment of record of a security interest in a fixture covered by a record of a mortgage that is effective as a financing statement filed as a fixture filing under section 47-9502, subsection 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 title.
D. A secured party of record may assign of record all of the secured party’s rights under more than one financing statement filed with the secretary of state by filing a master assignment setting forth the name of the secured party of record and file number of each financing statement and the name and mailing address of the assignee. The secured party shall also provide filing information in computer-readable form prescribed by the secretary of state.