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N.D. Cent. Code § 41-09-30

(9-310) When filing required to perfect security interest or agricultural lien - Security interests and agricultural liens to which filing provisions do not apply

Known as the Uniform Commercial Code

The act spans §§ 41–41 (597 sections).

1. Except as otherwise provided in subsection 2 and subsection 2 of section 41-09-32, a financing statement must be filed to perfect all security interests and agricultural liens.

2. The filing of a financing statement is not necessary to perfect a security interest:

a. That is perfected under subsection 4, 5, 6, or 7 of section 41-09-28;

b. That is perfected under section 41-09-29 when it attaches;

c. In property subject to a statute, regulation, or treaty described in subsection 1 of section 41-09-31;

d. In goods in possession of a bailee which is perfected under subdivision a or b of subsection 4 of section 41-09-32;

e. In certificated securities, documents, goods, or instruments which is perfected without filing, control, or possession under subsection 5, 6, or 7 of section 41-09-32;

f. In collateral in the secured party's possession under section 41-09-33;

g. In a certificated security which is perfected by delivery of the security certificate to the secured party under section 41-09-33;

h. In controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, investment property, letter-of-credit rights, or uncertificated certificates of deposit, which is perfected by control under section 41-09-34;

i. In chattel paper which is perfected by possession and control under section 41-09-34.1">41-09-34.1;

j. In proceeds which is perfected under section 41-09-35;

k. That is perfected under section 41-09-36; or l. In agricultural liens created by chapter 35-17, 35-30, or 35-31.

3. If a secured party assigns a perfected security interest or agricultural lien, a filing under this chapter is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor.

Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.