8.9A-502 - A-502. Contents of financing statement; record of mortgage as financing statement; time of filing financing statement.
§ 8.9A-502. Contents of financing statement; record of mortgage as financingstatement; time of filing financing statement.
(a) Sufficiency of financing statement. Subject to subsection (b), afinancing statement is sufficient only if it:
(1) provides the name of the debtor;
(2) provides the name of the secured party or a representative of the securedparty; and
(3) indicates the collateral covered by the financing statement.
(b) Real-property-related financing statements. Except as otherwise providedin § 8.9A-501 (b), to be sufficient, a financing statement that coversas-extracted collateral or timber to be cut, or which is filed as a fixturefiling and covers goods that are or are to become fixtures, must satisfysubsection (a) and also:
(1) indicate that it covers this type of collateral;
(2) indicate that it is to be filed for record in the real property records;
(3) provide a description of the real property to which the collateral isrelated sufficient to give constructive notice of a mortgage under the law ofthis state if the description were contained in a record of the mortgage ofthe real property; and
(4) if the debtor does not have an interest of record in the real property,provide the name of a record owner.
(c) Record of mortgage as financing statement. A record of a mortgage iseffective, from the date of recording, as a financing statement filed as afixture filing or as a financing statement covering as-extracted collateralor timber to be cut only if:
(1) the record indicates the goods or accounts that it covers;
(2) the goods are or are to become fixtures related to the real propertydescribed in the record or the collateral is related to the real propertydescribed in the record and is as-extracted collateral or timber to be cut;
(3) the record satisfies the requirements for a financing statement in thissection other than an indication that it is to be filed in the real propertyrecords; and
(4) the record is duly recorded.
(d) Filing before security agreement or attachment. A financing statement maybe filed before a security agreement is made or a security interest otherwiseattaches.
(1964, c. 219, § 8.9-402; 1966, c. 649; 1973, c. 509; 1976, c. 536; 1977, c.539; 1978, cc. 284, 285; 1982, c. 652; 1999, c. 96; 2000, c. 1007.)