Oregon Statutes 79.0502 – UCC 9-502. Contents of financing statement; record of mortgage as financing statement; time of filing financing statement
(1) Subject to subsection (2) of this section, a financing statement is sufficient only if it:
Terms Used In Oregon Statutes 79.0502
- Collateral: means the property subject to a security interest or agricultural lien. See Oregon Statutes 79.0102
- Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Oregon Statutes 79.0102
- Fixture filing: means the filing of a financing statement covering goods that are or are to become fixtures and satisfying ORS § 79. See Oregon Statutes 79.0102
- Fixtures: means goods that have become so related to particular real property that an interest in them arises under real property law. See Oregon Statutes 79.0102
- Goods: means all things that are movable when a security interest attaches. See Oregon Statutes 79.0102
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage: means a consensual interest in real property, including fixtures, which secures payment or performance of an obligation. See Oregon Statutes 79.0102
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Security agreement: means an agreement that creates or provides for a security interest. See Oregon Statutes 79.0102
- 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 Oregon Statutes 79.0102
(a) Provides the name of the debtor;
(b) Provides the name of the secured party or a representative of the secured party; and
(c) Indicates the collateral covered by the financing statement.
(2) Except as otherwise provided in ORS § 79.0501 (2), to be sufficient, a financing statement that covers as-extracted collateral or timber to be cut, or which is filed as a fixture filing and covers goods that are or are to become fixtures, must satisfy subsection (1) of this section and also:
(a) Indicate that it covers this type of collateral;
(b) Indicate that it is to be filed for record in the real property records;
(c) Provide a description of the real property to which the collateral is related sufficient to give constructive notice of a mortgage under the law of this state if the description were contained in a record of the mortgage of the real property; and
(d) If the debtor does not have an interest of record in the real property, provide the name of a record owner.
(3) A record of a mortgage is effective, from the date of recording, as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut only if:
(a) The record indicates the goods or accounts that it covers;
(b) The goods are or are to become fixtures related to the real property described in the record or the collateral is related to the real property described in the record and is as-extracted collateral or timber to be cut;
(c) The record satisfies the requirements for a financing statement in this section except that:
(A) The record need not indicate that the record is to be filed in the real property records; and
(B) If the record provides the name of the debtor or the surname and first personal name of the debtor, even if the debtor is an individual to whom ORS § 79.0503 (1)(d) applies, the record sufficiently provides the name of a debtor; and
(d) The record is duly recorded.
(4) A financing statement may be filed before a security agreement is made or a security interest otherwise attaches. [2001 c.445 § 73; 2015 c.538 § 1]