Title 11, Chapter 9, Section 514
( 11-9-514)
Assignment of powers of secured party of record. (a) Assignment reflected on initial financing statement. 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. (b) Assignment of filed financing statement. 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 which: (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. |