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§12A-9-406.
§12A-9-406.
Release of Collateral - Duties of Filing Officer - Fees. - A secured
party of record may by his signed statement release all or part of any
collateral described in a filed financing statement. The statement of
release is sufficient if it contains a description of the collateral
being released, the name and address of the debtor, the name and
address of the secured party, and the file number of the financing
statement. A statement of release signed by a person other than the
secured party of record must be accompanied by a separate written
statement of assignment signed by the secured party of record and
complying with subsection (2) of Section 9-405, including payment of
the required fee. Upon presentation of such a statement of release to
the filing officer, he shall mark the statement with the hour and date
of filing and shall note the same upon the margin of the index of the
filing of the financing statement. There shall be no fee, or any other
associated costs, for filing, noting, sending or delivering such a
statement of release.
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