2007 Minnesota Statutes

336.9-307 MS 1998 [Repealed, 2000 c 399 art 1 s 140]
336.9-307 LOCATION OF DEBTOR.
(a) Place of business. In this section, "place of business" means a place where a debtor
conducts its affairs.
(b) Debtor's location: general rules. Except as otherwise provided in this section, the
following rules determine a debtor's location:
(1) A debtor who is an individual is located at the individual's principal residence.
(2) A debtor that is an organization and has only one place of business is located at its
place of business.
(3) A debtor that is an organization and has more than one place of business is located at
its chief executive office.
(c) Limitation of applicability of subsection (b). Subsection (b) applies only if a debtor's
residence, place of business, or chief executive office, as applicable, is located in a jurisdiction
whose law generally requires information concerning the existence of a nonpossessory security
interest to be made generally available in a filing, recording, or registration system as a condition
or result of the security interest's obtaining priority over the rights of a lien creditor with respect to
the collateral. If subsection (b) does not apply, the debtor is located in the District of Columbia.
(d) Continuation of location: cessation of existence, etc. A person that ceases to exist,
have a residence, or have a place of business continues to be located in the jurisdiction specified
by subsections (b) and (c).
(e) Location of registered organization organized under state law. A registered
organization that is organized under the law of a state is located in that state.
(f) Location of registered organization organized under federal law; bank branches
and agencies. Except as otherwise provided in subsection (i), a registered organization that
is organized under the law of the United States and a branch or agency of a bank that is not
organized under the law of the United States or a state are located:
(1) in the state that the law of the United States designates, if the law designates a state
of location;
(2) in the state that the registered organization, branch, or agency designates, if the law of
the United States authorizes the registered organization, branch, or agency to designate its state
of location; or
(3) in the District of Columbia, if neither paragraph (1) nor paragraph (2) applies.
(g) Continuation of location: change in status of registered organization. A registered
organization continues to be located in the jurisdiction specified by subsection (e) or (f)
notwithstanding:
(1) the suspension, revocation, forfeiture, or lapse of the registered organization's status
as such in its jurisdiction of organization; or
(2) the dissolution, winding up, or cancellation of the existence of the registered organization.
(h) Location of United States. The United States is located in the District of Columbia.
(i) Location of foreign bank branch or agency if licensed in only one state. A branch or
agency of a bank that is not organized under the law of the United States or a state is located in
the state in which the branch or agency is licensed, if all branches and agencies of the bank are
licensed in only one state.
(j) Location of foreign air carrier. A foreign air carrier under the Federal Aviation Act of
1958, as amended, is located at the designated office of the agent upon which service of process
may be made on behalf of the carrier.
(k) Section applies only to this part. This section applies only for purposes of this part.
History: 2000 c 399 art 1 s 27