Iowa Code
Iowa Code § 554.9507 (2026)
Effect of certain events on effectiveness of financing statement
✓ current as of July 2026
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1. Disposition. A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition. 2. Information becoming seriously misleading. Except as otherwise provided in subsection 3 and section 554.9508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under section 554.9506. 3. Change in debtor’s name. If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under section 554.9503, subsection 1, so that the financing statement becomes seriously misleading under section 554.9506: a. the financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriously misleading; and b. the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four months after the financing statement became seriously misleading. 2000 Acts, ch 1149, §78, 185, 187; 2012 Acts, ch 1052, §16, 37 Referred to in §554.9508
\nNotes of Decisions
Cited in 15
cases, 1973–2016 · leading case: Herman Ford-Mercury, Inc. v. Betts, 251 N.W.2d 492 (Iowa 1977).
Herman Ford-Mercury, Inc. v. Betts, 251 N.W.2d 492 (Iowa 1977). “atens to de *495 cline speedily in value or is of a type customarily sold on a recognized market, reasonable notification of the time and place of any public sale or reasonable notification of the time after which any private sale or other intended disposition is to be made…”
Hartford-Carlisle Sav. Bank v. Shivers, 566 N.W.2d 877 (Iowa 1997). “What is not clear in our commercial code is what effect the secured creditor’s noncompli-anee with these requirements has upon the creditor’s claim to a deficiency judgment, Iowa Code section 554.9507(1) does provide that the debtor can sue for damages occasioned by a secured…”
Webster Indus., Inc. v. Northwood Doors, Inc., 320 F. Supp. 2d 821 (N.D. Iowa 2004). “Iowa 1996) (citing Iowa Code § 554.9507 (2)); Iowa Code § 554.”
Beneficial Fin. Co. of Black Hawk Cnty. v. Reed, 212 N.W.2d 454 (Iowa 1973). “See section 554.9507 (2). At the same time, the adequacy or insufficiency of the price for which the repossessed collateral is sold has been recognized as one of the “terms” of sale, and therefore is relevant to a determination of whether the sale was commercially reasonable.”
Geiger v. Tokheim, 191 B.R. 781 (N.D. Iowa 1996). “Specifically, Iowa Code § 554.9507 (2) provides as follows: The fact that a better price could have been obtained by a sale at a different time or in a different method from that selected by the secured party is not of itself sufficient to establish that the sale was not made in…”
Oyens Feed & Supply, Inc. v. Primebank, 879 N.W.2d 853 (Iowa 2016). “9317(5) and section 554.9507(3), the legislature used both the word “before” and the phrase “within .”
Monahan Loan Serv., Inc. v. Janssen, 349 N.W.2d 752 (Iowa 1984). “We are not certain that this is the clear import of section 554.9507(1) which provides that the remedy for noncompliance is recovery by the debtor of “any loss caused by a failure to comply.”
Klooster v. North Iowa State Bank, 404 N.W.2d 564 (Iowa 1987). “Section 554.9507(2) also affords the bank no defense on the present facts.”
Barnhouse v. Hawkeye State Bank, 406 N.W.2d 181 (Iowa 1987). “This less stringent sanction is premised in part on the statutory provision that provides a remedy for the debtor in such situations: If the disposition has occurred the debtor .”
Nw. Bank & Trust Co. v. Gutshall, 274 N.W.2d 713 (Iowa 1979). “Gutshall contends that in addition to the denial of a deficiency judgment, he is entitled to damages in accordance with the provisions of § 554.9507(1), The Code, which provides: “If the disposition has occurred the debt- or or any person entitled to notification or whose…”
John Deere Leasing Co. v. Fraker, 395 N.W.2d 885 (Iowa 1986). “If the secured party either sells the collateral in the usual manner in any recognized market therefor or if he sells at the price current in such market at the time of his sale or if he has otherwise sold in conformity with reasonable commercial practices among dealers in the…”
Towe Farms, Inc. v. Cent. Iowa Prod. Credit Ass'n, 528 F. Supp. 500 (S.D. Iowa 1981). “9506; (d) to obtain injunctive or other relief under Section 554.9507 subsection (1); and (e) to recover losses caused to him under Section 554.”
— Iowa Code § 554.9507(1) — 7 cases
Herman Ford-Mercury, Inc. v. Betts, 251 N.W.2d 492 (Iowa 1977). “atens to de *495 cline speedily in value or is of a type customarily sold on a recognized market, reasonable notification of the time and place of any public sale or reasonable notification of the time after which any private sale or other intended disposition is to be made…”
Hartford-Carlisle Sav. Bank v. Shivers, 566 N.W.2d 877 (Iowa 1997). “What is not clear in our commercial code is what effect the secured creditor’s noncompli-anee with these requirements has upon the creditor’s claim to a deficiency judgment, Iowa Code section 554.9507(1) does provide that the debtor can sue for damages occasioned by a secured…”
Beneficial Fin. Co. of Black Hawk Cnty. v. Reed, 212 N.W.2d 454 (Iowa 1973). “See section 554.9507 (2). At the same time, the adequacy or insufficiency of the price for which the repossessed collateral is sold has been recognized as one of the “terms” of sale, and therefore is relevant to a determination of whether the sale was commercially reasonable.”
Monahan Loan Serv., Inc. v. Janssen, 349 N.W.2d 752 (Iowa 1984). “We are not certain that this is the clear import of section 554.9507(1) which provides that the remedy for noncompliance is recovery by the debtor of “any loss caused by a failure to comply.”
Nw. Bank & Trust Co. v. Gutshall, 274 N.W.2d 713 (Iowa 1979). “Gutshall contends that in addition to the denial of a deficiency judgment, he is entitled to damages in accordance with the provisions of § 554.9507(1), The Code, which provides: “If the disposition has occurred the debt- or or any person entitled to notification or whose…”
— Iowa Code § 554.9507(2) — 3 cases
Klooster v. North Iowa State Bank, 404 N.W.2d 564 (Iowa 1987). “Section 554.9507(2) also affords the bank no defense on the present facts.”
Monahan Loan Serv., Inc. v. Janssen, 349 N.W.2d 752 (Iowa 1984). “We are not certain that this is the clear import of section 554.9507(1) which provides that the remedy for noncompliance is recovery by the debtor of “any loss caused by a failure to comply.”
Geiger v. Tokheim, 191 B.R. 781 (N.D. Iowa 1996). “Specifically, Iowa Code § 554.9507 (2) provides as follows: The fact that a better price could have been obtained by a sale at a different time or in a different method from that selected by the secured party is not of itself sufficient to establish that the sale was not made in…”
— Iowa Code § 554.9507(3) — 2 cases
Oyens Feed & Supply, Inc. v. Primebank, 879 N.W.2d 853 (Iowa 2016). “9317(5) and section 554.9507(3), the legislature used both the word “before” and the phrase “within .”
— Iowa Code § 554.9507(3)(a) — 2 cases
Oyens Feed & Supply, Inc. v. Primebank, 879 N.W.2d 853 (Iowa 2016). “9317(5) and section 554.9507(3), the legislature used both the word “before” and the phrase “within .”
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