§ 25-9-514. Assignment of powers of secured party of record. - North Carolina Statutes

§25‑9‑514.  Assignment of powers of secured party of record.

(a)        Assignmentreflected on initial financing statement. – Except as otherwise provided insubsection (c) of this section, an initial financing statement may reflect anassignment of all of the secured party's power to authorize an amendment to thefinancing statement by providing the name and mailing address of the assigneeas the name and address of the secured party.

(b)        Assignment of filedfinancing statement. – Except as otherwise provided in subsection (c) of thissection, a secured party of record may assign of record all or part of itspower to authorize an amendment to a financing statement by filing in thefiling office an amendment of the financing statement which:

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

(2)        Provides the name ofthe assignor; and

(3)        Provides the nameand mailing address of the assignee.

(c)        Assignment ofrecord of mortgage. – An assignment of record of a security interest in afixture covered by a record of a mortgage which is effective as a financingstatement filed as a fixture filing under G.S. 25‑9‑502(c) may bemade only by an assignment of record of the mortgage in the manner provided bylaw of this State other than this Chapter. (1965, c. 700, s. 1; 1967, c.24, s. 23; 1969, c. 1115, s. 1; 1973, c. 1316, ss. 4, 5; 1975, c. 862, s. 7;1983, c. 713, ss. 24, 25; 1987, c. 792, ss. 7, 8; 1989, c. 523, s. 6; 1997‑456,s. 55.3; 1997‑475, s. 5.5; 2000‑169, s. 1.)