North Dakota Century Code

Chapter 41-09

Secured Transactions

Section Section Name
41-09-01 (9‑101) Short title
41-09-02 (9‑102) Definitions and index of definitions
41-09-03 (9‑103) Purchase‑money security interest ‑ Application of payments ‑ Burden of establishing
41-09-04 (9‑104) Control of deposit account or uncertificated certificate of deposit
41-09-05 (9‑105) Control of electronic copy of record evidencing chattel paper
41-09-05.1 (9‑105A) Control of electronic money
41-09-06 (9‑106) Control of investment property
41-09-07 (9‑107) Control of letter‑of‑credit right
41-09-07.1 (9‑107A) Control of controllable electronic record, controllable account, or controllable payment intangible
41-09-07.2 (9‑107B) No requirement to acknowledge or confirm ‑ No duties
41-09-08 (9‑108) Sufficiency of description
41-09-09 (9‑109) Scope
41-09-10 (9‑110) Security interests arising under chapter 41‑02 or 41‑02.1
41-09-11 (9‑201) General effectiveness of security agreement
41-09-12 (9‑202) Title to collateral immaterial
41-09-13 (9‑203) Attachment and enforceability of security interest ‑ Proceeds ‑ Supporting obligations ‑ Formal requisites
41-09-14 (9‑204) After‑acquired property ‑ Future advances
41-09-15 (9‑205) Use or disposition of collateral permissible
41-09-16 (9‑206) Security interest arising in purchase or delivery of financial asset
41-09-17 (9‑207) Rights and duties of secured party having possession or control of collateral
41-09-18 (9‑208) Additional duties of secured party having control of collateral
41-09-19 (9‑209) Duties of secured party if account debtor has been notified of assignment
41-09-20 (9‑210) Request for accounting ‑ Request regarding list of collateral or statement of account
41-09-21 (9‑301) Law governing perfection and priority of security interests
41-09-22 (9‑302) Law governing perfection and priority of agricultural liens
41-09-23 (9‑303) Law governing perfection and priority of security interests in goods covered by a certificate of title
41-09-24 (9‑304) Law governing perfection and priority of security interests in deposit accounts or certificates of deposit
41-09-25 (9‑305) Law governing perfection and priority of security interests in investment property
41-09-26 (9‑306) Law governing perfection and priority of security interests in letter‑of‑credit rights
41-09-26.1 (9‑306A) Law governing perfection and priority of security interests in chattel paper
41-09-26.2 (9‑306B) Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles
41-09-27 (9‑307) Location of debtor
41-09-28 (9‑308) When security interest or agricultural lien is perfected ‑ Continuity of perfection
41-09-29 (9‑309) Security interest perfected upon attachment
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
41-09-31 (9‑311) Perfection of security interests in property subject to certain statutes, regulations, and treaties
41-09-32 (9‑312) Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, documents, goods covered by documents, instruments, investment property, letter‑of‑credit rights, money, and uncertificated certificates of deposit ‑ Perfection by permissive filing ‑ Temporary perfection without filing or transfer of possession
41-09-33 (9‑313) When possession by or delivery to secured party perfects security interest without filing
41-09-34 (9‑314) Perfection by control
41-09-34.1 (9‑314A) Perfection by possession and control of chattel paper
41-09-35 (9‑315) Secured party's rights on disposition of collateral and in proceeds
41-09-36 (9‑316) Effect of change in governing law
41-09-37 (9‑317) Interests that take priority over or take free of security interest or agricultural lien
41-09-38 (9‑318) No interest retained in right to payment that is sold ‑ Rights and title of seller of account or chattel paper with respect to creditors and purchasers
41-09-39 (9‑319) Rights and title of consignee with respect to creditors and purchasers
41-09-40 (9‑320) Buyer of goods
41-09-41 (9‑321) Licensee of general intangible and lessee of goods in ordinary course of business
41-09-42 (9‑322) Priorities among conflicting security interests in and agricultural liens on same collateral
41-09-43 (9‑323) Future advances
41-09-44 (9‑324) Priority of purchase‑money security interests
41-09-45 (9‑325) Priority of security interests in transferred collateral
41-09-46 (9‑326) Priority of security interests created by new debtor
41-09-46.1 (9‑326A) Priority of security interest in controllable account, controllable electronic record, and controllable payment intangible
41-09-47 (9‑327) Priority of security interests in deposit account and uncertificated certificate of deposit
41-09-48 (9‑328) Priority of security interests in investment property
41-09-49 (9‑329) Priority of security interests in letter‑of‑credit right
41-09-50 (9‑330) Priority of purchaser of chattel paper or instrument
41-09-51 (9‑331) Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments, and securities under other articles ‑ Priority of interests in financial assets and security entitlements and protection against assertion of claim under chapters 41‑08 and 41‑12
41-09-52 (9‑332) Transfer of money ‑ Transfer of funds from deposit account
41-09-53 (9‑333) Priority of certain liens arising by operation of law
41-09-54 (9‑334) Priority of security interests in fixtures and crops
41-09-55 (9‑335) Accessions
41-09-56 (9‑336) Commingled goods
41-09-57 (9‑337) Priority of security interests in goods covered by certificate of title
41-09-58 (9‑338) Priority of security interest perfected by filed financing statement providing certain incorrect information
41-09-59 (9‑339) Priority subject to subordination
41-09-60 (9‑340) Effectiveness of right of recoupment or setoff against deposit account or certificate of deposit
41-09-61 (9‑341) Bank's rights and duties with respect to deposit account or certificate of deposit
41-09-62 (9‑342) Bank's right to refuse to enter into or disclose existence of control agreement
41-09-63 (9‑401) Alienability of debtor's rights
41-09-64 (9‑402) Secured party not obligated on contract of debtor or in tort
41-09-65 (9‑403) Agreement not to assert defenses against assignee
41-09-66 (9‑404) Rights acquired by assignee ‑ Claims and defenses against assignee
41-09-67 (9‑405) Modification of assigned contract
41-09-68 (9‑406) Discharge of account debtor ‑ Notification of assignment ‑ Identification and proof of assignment ‑ Restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective
41-09-69 (9‑407) Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest
41-09-70 (9‑408) Restrictions on assignment of promissory notes, health care insurance receivables, and certain general intangibles ineffective
41-09-71 (9‑409) Restrictions on assignment of letter‑of‑credit rights ineffective
41-09-72 (9‑501) Filing office
41-09-73 (9-502) Contents of financing statement ‑ Record of mortgage as financing statement ‑ Time of filing financing statement ‑ Amending financing statement
41-09-74 (9‑503) Name of debtor and secured party
41-09-75 (9‑504) Indication of collateral
41-09-76 (9‑505) Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions
41-09-77 (9‑506) Effect of errors or omissions
41-09-78 (9‑507) Effect of certain events on effectiveness of financing statement
41-09-79 (9‑508) Effectiveness of financing statement if new debtor becomes bound by security agreement
41-09-80 (9‑509) Persons entitled to file a record
41-09-81 (9‑510) Effectiveness of filed record
41-09-82 (9‑511) Secured party of record
41-09-83 (9‑512) Amendment of financing statement
41-09-84 (9‑513) Termination statement ‑ Remedies ‑ Fees
41-09-85 (9‑514) Assignment of powers of secured party of record
41-09-86 (9‑515) Duration and effectiveness of financing statement ‑ Effect of lapsed financing statement
41-09-87 (9‑516) What constitutes filing ‑ Effectiveness of filing
41-09-88 (9‑517) Effect of indexing errors
41-09-89 (9‑518) Claim concerning inaccurate or wrongfully filed record
41-09-90 (9‑519) Numbering, maintaining, and indexing records ‑ Communicating information provided in records
41-09-91 (9‑520) Acceptance and refusal to accept record
41-09-92 (9‑521) Uniform form of written financing statement and amendment
41-09-93 (9‑522) Maintenance and destruction of records
41-09-94 (9‑523) Information from filing office ‑ Sale or license of records
41-09-95 (9‑524) Delay by filing office
41-09-96 (9‑525) Fees
41-09-97 (9‑526) Rules
41-09-98 (9‑601) Rights after default ‑ Judicial enforcement ‑ Consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes
41-09-99 (9‑602) Waiver and variance of rights and duties
41-09-100 (9‑603) Agreement on standards concerning rights and duties
41-09-101 (9‑604) Procedure if security agreement covers real property or fixtures
41-09-102 (9‑605) Unknown debtor or secondary obligor
41-09-103 (9‑606) Time of default for agricultural lien
41-09-104 (9‑607) Collection and enforcement by secured party
41-09-105 (9‑608) Application of proceeds of collection or enforcement ‑ Liability for deficiency and right to surplus
41-09-106 (9‑609) Secured party's right to take possession after default
41-09-107 (9‑610) Disposition of collateral after default
41-09-108 (9‑611) Notification before disposition of collateral
41-09-109 (9‑612) Timeliness of notification before disposition of collateral
41-09-110 (9‑613) Contents and form of notification before disposition of collateral ‑ General
41-09-111 (9‑615) Application of proceeds of disposition ‑ Liability for deficiency and right to surplus
41-09-112 (9‑617) Rights of transferee of collateral
41-09-113 (9‑618) Rights and duties of certain secondary obligors
41-09-114 (9‑619) Transfer of record or legal title
41-09-115 (9‑620) Acceptance of collateral in full or partial satisfaction of obligation ‑ Compulsory disposition of collateral
41-09-116 (9‑621) Notification of proposal to accept collateral
41-09-117 (9‑622) Effect of acceptance of collateral
41-09-118 (9‑623) Right to redeem collateral
41-09-119 (9‑624) Waiver
41-09-120 (9‑625) Remedies for secured party's failure to comply with chapter
41-09-121 (9‑626) Action in which deficiency or surplus is in issue
41-09-122 (9‑627) Determination of whether conduct was commercially reasonable
41-09-123 (9‑628) Nonliability and limitation on liability of secured party ‑ Liability of secondary obligor
41-09-124 (9‑702) Savings clause
41-09-125 (9‑703) Security interest perfected before effective date
41-09-126 (9‑704) Security interest unperfected before effective date
41-09-127 (9‑705) Effectiveness of action taken before effective date
41-09-128 (9‑706) When initial financing statement suffices to continue effectiveness of financing statement
41-09-129 (9‑707) Amendment of pre‑effective‑date financing statement
41-09-130 (9‑708) Persons entitled to file initial financing statement or continuation statement
41-09-131 (9‑709) Priority
41-09-132 (9-802) Savings clause
41-09-133 (9-803) Security interest perfected before effective date
41-09-134 (9-804) Security interest unperfected before effective date
41-09-135 (9-805) Effectiveness of action taken before effective date
41-09-136 (9-806) When initial financing statement suffices to continue effectiveness of financing statement
41-09-137 (9-807) Amendment of pre‑effective‑date financing statement
41-09-138 (9-808) Person entitled to file initial financing statement or continuation statement
41-09-139 (9-809) (Effective July 1, 2013) Priority