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336B.02 FINANCING STATEMENTS OF A PUBLIC UTILITY, A TACONITE
COMPANY, AND A SEMITACONITE COMPANY.
    Subdivision 1. Filing with secretary of state. Notwithstanding sections 336.9-311,
336.9-501, 336.9-502, 336.9-515, and 336.9-519 of the Uniform Commercial Code, all filings
required under the Uniform Commercial Code in order to perfect a security interest against the
personal property or fixtures of a debtor public utility, or against the personal property or fixtures
of a debtor taconite company or a debtor semitaconite company, must be made and maintained in
the office of the secretary of state.
    Subd. 2. Information not required. When the financing statement covers goods of a debtor
public utility or of a debtor taconite company or a debtor semitaconite company, which are or are
to become fixtures, no description of the real estate or the name of the record owner is required.
    Subd. 3. Duration. Filing of a financing statement against the property of a debtor public
utility or against the property of a debtor taconite company or a debtor semitaconite company is
effective until five years after the maturity date contained in the statement in the case of personal
property and until 15 years after the maturity date in the case of fixtures annexed to real property,
or if no maturity date is contained in the statement, until released or terminated.
History: 1965 c 813 s 2; 1967 c 323 s 2; 1984 c 628 art 5 s 1; 2001 c 195 art 2 s 19;
2005 c 69 art 1 s 21