30-9A-511. 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 secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under 30-9A-514(1), the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.
(2) If an amendment of a financing statement that provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under 30-9A-514(2), the assignee named in the amendment is a secured party of record.
(3) A person remains a secured party of record until the filing of an amendment of the financing statement that deletes the person.
History: En. Sec. 81, Ch. 305, L. 1999; Sec. 30-9-531, MCA 1999; redes. 30-9A-511 by Code Commissioner, 2001.