18 NCAC 05B .0305          ASSIGNMENT OF POWERS OF SECURED PARTY OF RECORD

(a)  An assignment shall have no effect on the status of the parties to the financing statement, except that each assignee named in the assignment shall become a secured party of record.

(b)  An assignment shall have no effect upon the status of the financing statement.

History Note:        Authority G.S.25-9-514; 25-9-526;

Temporary Adoption Eff. July 2, 2001;

Eff. August 1, 2002;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. November 12, 2014.