P.R. Laws tit. 19, § 2324

2019-02-20 00:00:00+00
§ 2324. Indication of collateral.—

A financing statement sufficiently indicates the collateral that it covers if the financing statement provides:

(1) A description of the collateral pursuant to § 2218 of this title; or

(2) an indication that the financing statement covers all assets or all personal property.

(3) in the case of motor vehicles not held as inventory for sale or lease, a description of the motor vehicle that includes the motor vehicle's year, make, model, and manufacturer's serial number or other vehicle identification number (VIN). A financing statement (including one affecting a titled motor vehicle) need not include the amount of any obligation thereby secured, the date or anticipated maturity thereof, or any other description of any obligation secured thereby.

History —Sept. 19, 1996, No. 241, added as § 9-504 on Jan. 17, 2012, No. 21, § 11, eff. 1 year after Jan. 17, 2012.