UNIFORM COMMERCIAL CODE
Act 174 of 1962
440.9505 Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions.
Sec. 9505.
(1) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in section 9311(1), using the terms "consignor", "consignee", "lessor", "lessee", "bailor", "bailee", "licensor", "licensee", "owner", "registered owner", "buyer", "seller", or words of similar import, instead of the terms "secured party" and "debtor".
(2) This part applies to the filing of a financing statement under subsection (1) and, as appropriate, to compliance that is equivalent to filing a financing statement under section 9311(2), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, licensor, owner, or buyer which attaches to the collateral is perfected by the filing or compliance.
History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1978, Act 369, Eff. Jan. 1, 1979 ;-- Am. 2000, Act 348, Eff. July 1, 2001
Notes of Decisions
Fodale v. Waste Mgmt. of Michigan, Inc, 718 N.W.2d 827 (Mich. Ct. App. 2006).
· cites it 6× “[23] Except as they pertain to the compulsory disposition of the collateral in certain cases involving consumer goods. See the 1979 version of MCL 440.”
Michigan Nat'l Bank v. Marston, 185 N.W.2d 47 (Mich. Ct. App. 1970).
· cites it 14× “9504]), and objection to retention of collateral (MCLA § 440.9505[2] [Stat Ann 1964 Rev § 19.”
Jones v. Morgan, 228 N.W.2d 419 (Mich. Ct. App. 1975).
“As a matter of law did the retention of collateral by plaintiff constitute satisfaction of the debtor’s obligation? UCC 9-505(2); MCLA 440.9505(2); MSA 19.9505(2) provides that upon written notification a secured party may retain collateral in satisfaction of a debt.”
Roan v. Murray, 556 N.W.2d 893 (Mich. Ct. App. 1996).
“Defendant will then have twenty-one days to object in writing, in which case plaintiff must dispose of the vehicle in a commercially reasonable manner and account to defendant for any surplus.”
— Mich. Comp. Laws § 440.9505(1) — 2 cases
Michigan Nat'l Bank v. Marston, 185 N.W.2d 47 (Mich. Ct. App. 1970).
“9504]), and objection to retention of collateral (MCLA § 440.9505[2] [Stat Ann 1964 Rev § 19.”
Fodale v. Waste Mgmt. of Michigan, Inc, 718 N.W.2d 827 (Mich. Ct. App. 2006).
“[23] Except as they pertain to the compulsory disposition of the collateral in certain cases involving consumer goods. See the 1979 version of MCL 440.”
— Mich. Comp. Laws § 440.9505(2) — 2 cases
Fodale v. Waste Mgmt. of Michigan, Inc, 718 N.W.2d 827 (Mich. Ct. App. 2006).
“[23] Except as they pertain to the compulsory disposition of the collateral in certain cases involving consumer goods. See the 1979 version of MCL 440.”
Jones v. Morgan, 228 N.W.2d 419 (Mich. Ct. App. 1975).
“As a matter of law did the retention of collateral by plaintiff constitute satisfaction of the debtor’s obligation? UCC 9-505(2); MCLA 440.9505(2); MSA 19.9505(2) provides that upon written notification a secured party may retain collateral in satisfaction of a debt.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.