554.9405  Assignment of security interest--duties of filing officer--fees.

1.  A financing statement may disclose an assignment of a security interest in the collateral described in the financing statement by indication in the financing statement of the name and address of the assignee or by an assignment itself or a copy thereof on the face or back of the statement. On presentation to the filing officer of such a financing statement the filing officer shall mark the same as provided in section 554.9403, subsection 4. The uniform fee for filing, indexing and furnishing filing data for a financing statement so indicating an assignment on a form conforming to standards prescribed by the secretary of state shall be ten dollars, or if such statement otherwise conforms to the requirements of this section, twelve dollars.

2.  A secured party may assign of record all or a part of the rights under a financing statement by the filing in the place where the original financing statement was filed of a separate written statement of assignment signed by the secured party of record and setting forth the name of the secured party of record and the debtor, the file number and the date of filing of the financing statement and the name and address of the assignee and containing a description of the collateral assigned. A copy of the assignment is sufficient as a separate statement if it complies with the preceding sentence. On presentation to the filing officer of such a separate statement, the filing officer shall mark such separate statement with the date and hour of the filing. The filing officer shall note the assignment on the index of the financing statement, or in the case of a fixture filing, or a filing covering timber to be cut, or covering minerals or the like (including oil and gas) or accounts subject to section 554.9103, subsection 5, the filing officer shall index the assignment under the name of the assignor as grantor and, to the extent that the law of this state provides for indexing the assignment of a mortgage under the name of the assignee, the filing officer shall index the assignment of the financing statement under the name of the assignee. The uniform fee for filing, indexing and furnishing filing data about such a separate statement of assignment on a form conforming to standards prescribed by the secretary of state shall be ten dollars, or if such statement otherwise conforms to the requirements of this section, twelve dollars. Notwithstanding the provisions of this subsection, an assignment of record of a security interest in a fixture contained in a mortgage effective as a fixture filing (section 554.9402, subsection 6), may be made only by an assignment of the mortgage in the manner provided by the law of this state other than this chapter.

For financing statements covering fixture filings, changes in the filings, and termination of the filings, an additional fee shall be charged for recording in an amount specified in section 331.604.

3.  After the disclosure or filing of an assignment under this section, the assignee is the secured party of record.

4.  The filing fee for an assignment filed electronically in the office of the secretary of state is eight dollars if the statement is in the standard form, and otherwise ten dollars.

Section History: Early form

  [C51, § 1196; R60, § 2204; C73, § 1926; C97, § 2910; C24, 27, 31, 35, 39, § 10019, 10024, 10031; C46, 50, 54, 58, 62, § 556.7, 556.13, 556.20; C66, 71, 73, 75, 77, 79, 81, § 554.9405; 81 Acts, ch 21, § 17]

Section History: Recent form

  85 Acts, ch 159, §5; 88 Acts, ch 1275, §37; 91 Acts, ch 267, §621; 93 Acts, ch 126, §33

Internal References

  Referred to in § 15E.91, 16.26, 16A.9, 331.602, 554.9401, 554.9403, 554.9404, 554.9406


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