1999 Minnesota Statutes

     336.9-406 Release of collateral; duties of filing 
  officer; fees. 

    A secured party of record may by 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 and secured party as those items 
 appear on the original financing statement or the most recently 
 filed amendment, and identifies the original financing statement 
 by file number and filing date.  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 subsection (2) 
 of section 336.9-405, including payment of the required fee.  
 Upon being presented with such a statement of release the filing 
 officer shall mark the statement with the hour and date of 
 filing.  The uniform fee for filing and noting such a statement 
 of release shall be $15 if the statement is in the standard form 
 prescribed by the secretary of state.  If the statement is not 
 on the standard form prescribed by the secretary of state, the 
 fee is $20.  If the original financing statement was subject to 
 subsection (5) of section 336.9-402, the fee prescribed by 
 section 357.18, subdivision 1, clause (1), is also required. 

    HIST: 1965 c 811 s 336.9-406; 1976 c 135 s 29; 1981 c 356 s 
 350; 1984 c 618 s 51; 1986 c 444; 1989 c 335 art 1 s 217; 1993 c 
 369 s 121