Section 28:9-401 - Place of filing; erroneous filing; removal of collateral

Place of filing; erroneous filing; removal of collateral

(1) The proper place to file in order to perfect a security interest is, in all cases, in the office of the Recorder of Deeds of the District. In this article, “filing officer” means said Recorder. When the collateral is timber to be cut or is minerals or the like (including oil and gas) or accounts subject to subsection (5) of section 28:9-103, or when the financing statement is filed as a fixture filing (section 28:9-313) and the collateral is goods which are or are to become fixtures, then the proper place to file in order to perfect a security interest is in the office of the Recorder of Deeds of the District where a mortgage on the real estate would be filed or recorded.

(2) A filing which is made in good faith in an improper place or not in all of the places required by this section is nevertheless effective with regard to any collateral as to which the filing complied with the requirements of this article and is also effective with regard to collateral covered by the financing statement against any person who has knowledge of the contents of such financing statement.

(3) A filing which is made in the proper place in the District continues effective even though the debtor's residence or place of business or the location of the collateral or its use, whichever controlled the original filing, is thereafter changed.

(4) The rules stated in section 28:9-103 determine whether filing is necessary in the District.

CREDIT(S)

(Dec. 30, 1963, 77 Stat. 762, Pub. L. 88-243, § 1; Mar. 16, 1982, D.C. Law 4-85, § 29, 29 DCR 309.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications
1981 Ed., § 28:9-401.
1973 Ed., § 28:9-401.
Legislative History of Laws
For legislative history of D.C. Law 4-85, see Historical and Statutory Notes following § 28:9-102.
For Law 13-201, see notes following § 28:9-101.

Current through September 13, 2012