1998 Minnesota Statutes

     336.9-405 Assignment of security interest; duties of 
  filing officer; fees. 

    (1) A financing statement may disclose an assignment of a 
 security interest in the collateral described in the financing 
 statement by indication in the financing statement of the name 
 and address of the assignee or by an assignment itself or a copy 
 thereof on the face of the statement.  On presentation to the 
 filing officer of such a financing statement the filing officer 
 shall mark the same as provided in section 336.9-403, clause 
 (4).  The uniform fee for filing, indexing, and furnishing 
 filing data for a financing statement so indicating an 
 assignment shall be the same as the fee prescribed in section 
 336.9-403, clause (5). 

    (2) A secured party of record may record an assignment of 
 all or a part of the secured party's rights under a financing 
 statement.  The assignment must be filed in the place where the 
 original financing statement was filed.  The assignment must be 
 signed by the secured party of record.  The assignment must 
 state:  (i) the name and address of the secured party of record 
 and the debtor as those items appear on the original financing 
 statement or the most recently filed amendment, (ii) the file 
 number and the date of filing of the financing statement, (iii) 
 the name and address of the assignee, and (iv) a description of 
 the collateral assigned.  A copy of the assignment is sufficient 
 if it complies with the preceding sentence.  

    On presentation to the filing officer of such a statement, 
 the filing officer shall mark such separate statement with the 
 date and hour of the filing.  The filing officer shall note the 
 assignment on the index of the financing statement, or in the 
 case of a fixture filing, or a filing covering timber to be cut, 
 or covering minerals or the like (including oil and gas) or 
 accounts subject to subsection (5) of section 336.9-103.  The 
 filing officer shall also index the assignment under the name of 
 the assignor as grantor and, to the extent that the law of this 
 state provides for indexing the assignment of a mortgage under 
 the name of the assignee, index the assignment of the financing 
 statement under the name of the assignee.  

    The uniform fee for filing, indexing, and furnishing filing 
 data about such a statement of assignment shall be $15 for up to 
 two debtor names and $15 for each additional name thereafter if 
 the statement is in the standard form prescribed by the 
 secretary of state.  If the statement is in a form that is not 
 the standard form prescribed by the secretary of state, the fee 
 is $20 for up to two debtor names and $20 for each additional 
 name thereafter.  In each case where 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.  

    Notwithstanding the provisions of this subsection, an 
 assignment of record of a security interest in a fixture 
 contained in a mortgage effective as a fixture filing 
 (subsection (6) of section 336.9-402) may be made only by an 
 assignment of the mortgage in the manner provided by the law of 
 this state other than Laws 1976, chapter 135. 

    (3) After the disclosure or filing of an assignment under 
 this section, the assignee is the secured party of record. 

    HIST: 1965 c 811 s 336.9-405; 1976 c 135 s 28; 1981 c 356 s 
 349; 1984 c 618 s 50; 1986 c 444; 1989 c 335 art 1 s 216; 1993 c 
 369 s 120