North Dakota Code 41-09-82 – (9-511) Secured party of record
1. 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 subsection 1 of section 41-09-85, the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.
Terms Used In North Dakota Code 41-09-82
- 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.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
2. 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 subsection 2 of section 41-09-85, the assignee named in the amendment is a secured party of record.
3. A person remains a secured party of record until the filing of an amendment of the financing statement which deletes the person.