(a) Secured party of record. A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under Section 7-9A-514(a), the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.
(b) Amendment naming secured party of record. If an amendment of a financing statement which provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under Section 7-9A-514(b), the assignee named in the amendment is a secured party of record.
(c) Amendment deleting secured party of record. A person remains a secured party of record until the filing of an amendment of the financing statement which deletes the person.
Structure Code of Alabama
Article 9A - Secured Transactions.
Division 1 - Filing; Contents and Effectiveness of Financing Statement.
Section 7-9A-501 - Filing Office.
Section 7-9A-503 - Name of Debtor and Secured Party.
Section 7-9A-504 - Indication of Collateral.
Section 7-9A-506 - Effect of Errors or Omissions.
Section 7-9A-507 - Effect of Certain Events on Effectiveness of Financing Statement.
Section 7-9A-509 - Persons Entitled to File a Record.
Section 7-9A-510 - Effectiveness of Filed Record.
Section 7-9A-511 - Secured Party of Record.
Section 7-9A-512 - Amendment of Financing Statement.
Section 7-9A-513 - Termination Statement.
Section 7-9A-514 - Assignment of Powers of Secured Party of Record.
Section 7-9A-516 - What Constitutes Filing; Effectiveness of Filing.
Section 7-9A-517 - Effect of Indexing Errors.
Section 7-9A-518 - Claim Concerning Inaccurate or Wrongfully Filed Record.