44.6.109    FORMAT REQUIREMENTS FOR FILING AN EFFECTIVE FINANCING STATEMENT LIEN UNDER THE FEDERAL FOOD SECURITY ACT OF 1985

(1) All financing statement liens under the Federal Food Security Act of 1985 must be filed electronically via the Secretary of State's Business Services Division website.

(2) The following minimum required information must be included on all effective financing statements or they will be rejected:

(a) crop year, unless every crop of the farm product in question for the duration of the effective financing statement is to be subject to the particular security interest;

(b) specific farm product name (e.g., wheat, barley, hay, cattle, horses, hogs);

(c) each county in the state where the farm product is produced or will be produced;

(d) name and address of each person (debtor) subjecting the farm product to the security interest;

(e) authorized or otherwise authenticated by the debtor;

(f) social security number or, if other than a natural person, Internal Revenue Service taxpayer identification number of each such person;

(g) further details of the farm product subject to the security interest if needed to distinguish it from other such product owned by the same person or persons, but not subject to the particular security interest;

(h) secured party name and address; and

(i) authorized or otherwise authenticated by the secured party.

(3) An amendment to an effective financing statement is required when a change would render the farm bill master list entry no longer informative as to what is subject to the security interest in question. The submission must be filed online and must include:

(a) an amendment including terminations that must be authorized or otherwise authenticated by the secured party;

(b) an amendment modifying the debtor and/or collateral information that must be authorized or otherwise authenticated by the debtor;

(i) An amendment that is a continuation statement does not require the signature of the debtor.

(c) an original filing number on file with the Secretary of State's office;

(d) only one filing number per submission;

(e) only one amendment per submission is permitted;

(f) the name of a debtor currently reflected on the Secretary of State's records for the original filing number being amended; and

(g) the name of a secured party currently reflected on the Secretary of State's records for the original filing number being amended.

 

History: 30-9A-526, MCA; IMP, 30-9A-501, 30-9A-502, 71-3-125, MCA; NEW, 2003 MAR p. 1894, Eff. 8/29/03; AMD, 2008 MAR p. 2056, Eff. 10/1/08; AMD, 2019 MAR p. 1532, Eff. 9/7/19.