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Tenn. Code Ann. § 47-9-502

Contents of financing statement — Record of mortgage as financing statement — Time of filing financing statement

Known as the Uniform Commercial Code

The act spans §§ 47–47 (578 sections).

Applied in 3 court decisions — leading case Jahn v. Cohutta Banking Co. (In Re U.S. Insurance Group, LLC) (2010)

Most recently applied in Regions Bank v. Bric Constructors, LLC, f/k/a Bric Contractors, LLC, and Patricia McIntosh (December 2011)

Acts 2000, ch. 846, § 1; 2012, ch. 708, § 12.

How often courts cite this section

20082010201110
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.

(1) Sufficiency of financing statement. Subject to subsection (b) a financing statement is sufficient only if it: Provides the name of the debtor;

(2) Provides the name of the secured party or a representative of the secured party; and

(3) Indicates the collateral covered by the financing statement.

(4) Real-property-related financing statements. Except as otherwise provided in § 47-9-501(b), 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 (a) and also: Indicate that it covers this type of collateral;

(5) Indicate that it is to be filed in the real property records;

(6) Provide a description of the real property to which the collateral is related; and

(7) If the debtor does not have an interest of record in the real property, provide the name of a record owner.

(8) Record of mortgage as financing statement. 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: The record indicates the goods or accounts that it covers;

(9) 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;

(10) The record satisfies the requirements for a financing statement in this section, but: The record need not indicate that it is to be filed in the real property records; and

(11) The record sufficiently provides the name of a debtor who is an individual if it provides the individual name of the debtor or the surname and first personal name of the debtor, even if the debtor is an individual to whom § 47-9-503(a)(4) applies; and

(12) The record is duly recorded.

(13) Filing before security agreement or attachment. A financing statement may be filed before a security agreement is made or a security interest otherwise attaches.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.