Michigan Compiled Laws 174-1962-9-5-1. Subpart 1. Filing Office; Contents And Effectiveness Of Financing Statement (440.9501...440.9518)

• Section 440.9501 Filing Office.
  (1) Except as otherwise provided in subsection (2), the office in which to file a financing statement to perfect the security interest or agricultural...
• Section 440.9501a Fraudulent Financing Statement; Affidavit; Form; Notice; Termination Of Financing Statement; Filing Fee; Notice Of Termination; Action To Reinstate Financing Statement; Court Order; Payment Of Costs And Expenses; Violation As Felony; Penalty; "Regulated Financial Institution" Defined.
  (1) A person identified as a debtor in a financing statement filed with the secretary of state may file an affidavit with the secretary...
• Section 440.9502 Contents Of Financing Statement; Record Of Mortgage As Financing Statement; Time Of Filing Financing Statement.
  (1) Subject to subsection (2), a financing statement is sufficient only if it does all of the following: (a) Provides the name of the...
• Section 440.9503 Name Of Debtor And Secured Party; "Name Of The Settlor Or Testator" Defined.
  (1) A financing statement sufficiently provides the name of the debtor if it meets all of the following that apply to the debtor: (a)...
• Section 440.9504 Indication Of Collateral.
  A financing statement sufficiently indicates the collateral that it covers if the financing statement provides 1 of the following: (a) A description of the...
• Section 440.9505 Filing And Compliance With Other Statutes And Treaties For Consignments, Leases, Other Bailments, And Other Transactions.
  (1) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a...
• Section 440.9506 Effect Of Errors Or Omissions.
  (1) A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors...
• Section 440.9507 Effect Of Certain Events On Effectiveness Of Financing Statement.
  (1) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which...
• Section 440.9508 Effectiveness Of Financing Statement If New Debtor Becomes Bound By Security Agreement.
  (1) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in...
• Section 440.9509 Persons Entitled To File A Record.
  (1) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor...
• Section 440.9510 Effectiveness Of Filing Record.
  (1) A filed record is effective only to the extent that it was filed by a person that may file it under section 9509....
• Section 440.9511 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...
• Section 440.9512 Amendment Of Financing Statement.
  (1) Subject to section 9509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection...
• Section 440.9513 Termination Statement.
  (1) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement...
• Section 440.9514 Assignment Of Powers Of Secured Party Of Record.
  (1) Except as otherwise provided in subsection (3), an initial financing statement may reflect an assignment of all of the secured party's power to...
• Section 440.9515 Duration And Effectiveness Of Financing Statement; Effect Of Lapsed Financing Statement; Continuation Statement; Termination.
  (1) Except as otherwise provided in subsections (2), (5), (6), and (7), a filed financing statement is effective for a period of 5 years...
• Section 440.9516 Filing; Requirements; Communication Of Record With Tender Of Filing Fee; Effectiveness.
  (1) Except as otherwise provided in subsection (2), communication of a record to a filing office and tender of the filing fee or acceptance...
• Section 440.9517 Effect Of Indexing Errors.
  The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record. History: Add. 2000, Act...
• Section 440.9518 Information Statement Concerning Inaccurate Or Wrongfully Filed Record.
  (1) A person may file in the filing office an information statement with respect to a record indexed there under the person's name if...

Last modified: October 10, 2016