38.3.2106    SECURITY INTEREST OR OTHER ENCUMBRANCE

(1) Any Montana public service commission operating certificate or permit can be a subject of a security interest or other encumbrance by another party with commission approval.   Such security interest or encumbrance must be imposed as provided for under the Uniform Commercial Code, Title 30, MCA, as amended.

(2) The filing of Form UCC-1 or 2 with the commission for filing in the carrier's public record will constitute notice of a preexisting security interest or encumbrance.

History: Sec. 69-12-201, MCA; IMP, Sec. 69-12-325, MCA; Eff. 12/31/72.