(A) Except as otherwise provided in division (C) of this section, an initial financing statement may reflect an assignment of all of the secured party‘s power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party.

Terms Used In Ohio Code 1309.514

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • File number: means the number assigned to an initial financing statement under division (A) of section 1309. See Ohio Code 1309.102
  • Filing office: means an office designated in section 1309. See Ohio Code 1309.102
  • Financing statement: means a record composed of an initial financing statement and any filed record or records relating to the initial financing statement. See Ohio Code 1309.102
  • Fixture filing: includes the filing of a financing statement covering goods of a transmitting utility that are or are to become fixtures. See Ohio Code 1309.102
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage: means a consensual interest in real property, including fixtures, that secures payment or performance of an obligation. See Ohio Code 1309.102
  • Secured party: means :

    (a) A person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding;

    (b) A person that holds an agricultural lien;

    (c) A consignor;

    (d) A person to whom accounts, chattel paper, payment intangibles, or promissory notes have been sold;

    (e) A trustee, indenture trustee, agent, collateral agent, or other representative in whose favor a security interest or agricultural lien is created or provided for; or

    (f) A person who holds a security interest arising under section 1302. See Ohio Code 1309.102

  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Ohio Code 1309.102

(B) Except as provided in division (C) of this section, a secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement that:

(1) Identifies, by its file number, the initial financing statement to which it relates;

(2) Provides the name of the assignor; and

(3) Provides the name and mailing address of the assignee.

(C) An assignment of record of a security interest in a fixture covered by a record of a mortgage that is effective as a financing statement filed as a fixture filing under division (C) of section 1309.502 of the Revised Code may be made only by an assignment of record of the mortgage in the manner provided by the laws of this state other than those contained in Chapters 1301. to 1305. and 1307. to 1310. of the Revised Code.

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