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N.C. Gen. Stat. § 25-9-505

Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions

Known as the Uniform Commercial Code

The act spans §§ 25–25 (616 sections).

Applied in 3 court decisions — leading case 125 N.C. App. 494 - NationsBank of North Carolina, N.A. v. American Doubloon Corp. (1997)

Most recently applied in In re Jeff Benfield Nursery, Inc. (January 2017)

1975, c. 862, s. 7; 2000-169, s. 1.

How often courts cite this section

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citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

(a) Use of terms other than "debtor" and "secured party." - A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in G.S. 25-9-311(a), using the terms "consignor", "consignee", "lessor", "lessee", "bailor", "bailee", "licensor", "licensee", "owner", "registered owner", "buyer", "seller", or words of similar import, instead of the terms "secured party" and "debtor".

(b) Effect of financing statement under subsection (a). - This Part applies to the filing of a financing statement under subsection (a) of this section and, as appropriate, to compliance that is equivalent to filing a financing statement under G.S. 25-9-311(b), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, licensor, owner, or buyer which attaches to the collateral is perfected by the filing or compliance.

Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.