North Dakota Code 41-09-83 – (9-512) Amendment of financing statement
1. Subject to section 41-09-80, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection 5, otherwise amend the information provided in, a financing statement by filing an amendment that: a. Identifies, by its file number, the initial financing statement to which the amendment relates; and
Terms Used In North Dakota Code 41-09-83
- 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.
- Debtor: means a natural person whose name was provided in a financing statement record as an individual debtor or one of the types of persons listed in section 41-09-76. See North Dakota Code 41-10-01
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
b. If the amendment relates to an initial financing statement filed or recorded in a filing office described in subdivision a of subsection 1 of section 41-09-72, provides the information specified in subsection 2 of section 41-09-73.
2. Except as otherwise provided in section 41-09-86, the filing of an amendment does not extend the period of effectiveness of the financing statement.
3. A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment.
4. A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment.
5. An amendment is ineffective to the extent it:
a. Purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or
b. Purports to delete all secured parties of record and fails to provide the name of a new secured party of record.