A secured party of record may by a signed statement release all or a part of any collateral described in a filed financing statement. The statement of release is sufficient if it contains a description of the collateral being released, the name and address of the debtor, the name and address of the secured party, and the file number of the financing statement. A statement of release signed by a person other than the secured party of record must be accompanied by a separate written statement of assignment signed by the secured party of record and complying with section 554.9405, subsection 2, including payment of the required fee. Upon presentation of such a statement of release the filing officer shall mark the statement with the hour and date of filing and shall note the same upon the margin of the index of the filing of the financing statement. The uniform fee for filing and noting such a statement of release 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.
The filing fee for a release of collateral 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.
[C97, § 2052; S13, § 2052; C24, 27, 31, 35, 39, § 10028, 10037; C46, 50, 54, 58, 62, § 556.17, 556.26; C66, 71, 73, 75, 77, 79, 81, § 554.9406; 81 Acts, ch 21, § 18]
88 Acts, ch 1275, §38; 91 Acts, ch 267, §622; 93 Acts, ch 126, §34
Referred to in § 15E.91, 16.26, 16A.9, 331.602, 554.9401
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Last update: Thu Mar 18 15:00:31 CST 1999
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