Mich. Admin. Code R. 440.308

Current through Vol. 24-10, June 15, 2024

Section R. 440.308 - Assignment of powers of secured party of record

Rule 308. Upon the filing of an assignment, the status of the parties and the status of the financing statement shall be as follows:

(a) An assignment shall have no effect on the status of the parties to the financing statement, except that each assignee named in the assignment shall become a secured party of record.

(b) An assignment shall have no effect upon the status of the financing statement.

Mich. Admin. Code R. 440.308

2002 MR 21, Eff. Nov. 20, 2002