State Codes and Statutes

Statutes > Oregon > Vol2 > 080

Chapter 80 — Assignment;Central Filing System for Farm Products

 

2009 EDITION

 

 

ASSIGNMENT;FILING SYSTEM FOR FARM PRODUCTS

 

COMMERCIALTRANSACTIONS

 

ASSIGNMENT

 

80.010       Assignmentof chose in action; payment by debtor without notice

 

80.020       Effectof an assignment on a defense

 

CENTRALFILING SYSTEM FOR FARM PRODUCTS

 

80.100       Definitionsfor ORS 80.100 to 80.130

 

80.101       Approvedunique identifiers

 

80.103       Filingof statements in electronic format; rules

 

80.106       Establishmentof central filing system for farm products; fees; rules

 

80.109       Protectionof buyers of farm products, commission merchants and selling agents; exception

 

80.112       Whenbuyer of farm product, commission merchant and selling agent subject tosecurity interest in farm product created by seller

 

80.115       Requirementsfor effective financing statement; amendment; duration; lapse; fee; rules

 

80.118       Masterlist of farm products; list of buyers, commission merchants and selling agents;distribution of master list; fee; rules

 

80.121       Confirmationof existence of any effective financing statement; fee; rules

 

80.124       Courtesynotice

 

80.127       Placeto file effective financing statement

 

80.130       Placeto register as buyer of farm product, commission merchant or selling agent;duration of registration; fee; rules

 

ASSIGNMENT

 

      80.010Assignment of chose in action; payment by debtor without notice. Any bona fideassignment of a chose in action by way of sale or pledge made in writing for agood, valuable and adequate consideration is deemed completed at the time thewriting is executed by the assignor and takes effect at the time of executionaccording to the terms of the writing without the giving of notice to thedebtor therein mentioned unless such notice is required by statute; but ifnotice is not given to a debtor, and such debtor, without knowledge of theassignment pays or discharges in whole or in part the obligation of the debtorto the assignor or to any subsequent assignee of the chose in action who hasgiven notice, such payment constitutes a discharge of the debtor to the extentthereof without prejudice to any right or remedy between the several assignees.

 

      80.020Effect of an assignment on a defense. In the case of an assignment of a thingin action, an action or suit by the assignee is without prejudice to any setoffor other defense existing at the time of, or before notice of the assignment;but this section does not apply to a negotiable instrument transferred in goodfaith and upon good consideration before due.

 

CENTRALFILING SYSTEM FOR FARM PRODUCTS

 

      80.100Definitions for ORS 80.100 to 80.130. As used in ORS 80.100 to 80.130:

      (1)“Approved unique identifier” means a number, combination of numbers andletters, or another identifier that the Secretary of State prescribes by rule.

      (2)“Buyer” means a person who, in the ordinary course of business, buys farmproducts from a person engaged in farming operations who is in the business ofselling farm products.

      (3)“Central filing system” means a system for filing effective financing statementson a statewide basis that is operated by the Secretary of State and has beencertified by the Secretary of the United States Department of Agriculture.

      (4)“Commission merchant” means any person engaged in the business of receiving anyfarm product for sale, on commission, or for or on behalf of another person.

      (5)“Effective financing statement” means a document filed with the Secretary ofState to register and describe farm products subject to a security interestcreated by a debtor or seller of farm products that is an effective financingstatement under the provisions of section 1324 of the Food Security Act of1985, 7 U.S.C. 1631. An effective financing statement does not create orperfect a security interest.

      (6)“Farm product” means an agricultural commodity including but not limited towheat, corn, soybeans, or a species of fish or livestock such as cattle, hogs,sheep, horses or poultry used or produced in farming operations, or a productof such crop, fish or livestock in its unmanufactured state, including but notlimited to wool clip, milk and eggs, that is in the possession of a personengaged in farming operations.

      (7)“Knows” or “knowledge” means actual knowledge.

      (8)“Security interest” means an interest in farm products that secures payment orperformance of an obligation.

      (9)“Selling agent” means any person, other than a commission merchant, who isengaged in the business of negotiating the sale and purchase of any farmproduct on behalf of a person engaged in farming operations. [Formerly 79.6020;2007 c.186 §13]

 

      80.101Approved unique identifiers. (1) The Secretary of State shall devisea method or system to provide approved unique identifiers for persons filingdocuments under ORS 80.100 to 80.130.

      (2)If necessary under federal law, the Secretary of State shall seek approval ofthe method or system devised under subsection (1) of this section from theSecretary of the United States Department of Agriculture. [2007 c.186 §20]

 

      80.103Filing of statements in electronic format; rules. (1) Aneffective financing statement, amendment to an effective financing statement,continuation statement, statement that an effective financing statement haslapsed or other statement filed with the Secretary of State under ORS 80.100 to80.130 may be filed in an electronic format.

      (2)Statements filed electronically under this section shall conform to thetechnical specifications for electronic filing as prescribed by the Secretaryof State by rule.

      (3)Signatures required on any statement filed in an electronic format shall besupplied as electronic signatures as defined in ORS 84.004. [Formerly 79.6025]

 

      80.106Establishment of central filing system for farm products; fees; rules. (1) TheSecretary of State shall establish, implement and operate the central filingsystem for farm products.

      (2)The Secretary of State shall ensure that the central filing system for farmproducts described in ORS 80.100 to 80.130 complies with the requirements for acentral filing system as defined by 7 U.S.C. 1631 as that statute read onDecember 24, 1986.

      (3)The Secretary of State shall prescribe:

      (a)Rules, fees and forms to implement and operate the central filing system; and

      (b)Rules for providing and using approved unique identifiers for persons filing documentsunder ORS 80.100 to 80.130.

      (4)The fees prescribed by the Secretary of State under this section shall benonrefundable and shall not exceed the cost of administering the central filingsystem. [Formerly 79.6030; 2007 c.186 §14]

 

      80.109Protection of buyers of farm products, commission merchants and selling agents;exception.Except as provided in ORS 80.112, a buyer who in the ordinary course ofbusiness buys farm products from a seller engaged in farming operations shalltake free of a security interest created by the seller, and a commissionmerchant or selling agent who sells in the ordinary course of business farmproducts for others shall not be subject to a security interest created by theseller in such products, even though the security interest is perfected and thebuyer or commission merchant or selling agent knows of the existence of suchinterest. [Formerly 79.6040]

 

      80.112When buyer of farm product, commission merchant and selling agent subject tosecurity interest in farm product created by seller. Under thecentral filing system for farm products, a buyer of farm products or commissionmerchant or selling agent who sells farm products for others shall be subjectto a security interest in such farm products created by the seller if:

      (1)The buyer or commission merchant or selling agent has failed to register withthe Secretary of State prior to the purchase of farm products and the securedparty has filed an effective financing statement that covers the farm productsbeing sold;

      (2)The buyer or commission merchant or selling agent has received from theSecretary of State a copy of the master list of farm products or writtennotice, pursuant to ORS 80.118 or 80.121, that names the seller and specifiesthe farm products being sold by such seller as being subject to an effectivefinancing statement and the buyer or commission merchant or selling agent doesnot secure a waiver or release of the security interest specified in sucheffective financing statement from the secured party by performing any paymentobligation or otherwise; or

      (3)The buyer or commission merchant or selling agent participates in the Secretaryof State’s computer access program that names the seller and specifies the farmproducts being sold by such seller as being subject to an effective financingstatement and the buyer or commission merchant or selling agent does not securea waiver or release of the security interest specified in such effectivefinancing statement from the secured party by performing any payment obligationor otherwise. [Formerly 79.6050]

 

      80.115Requirements for effective financing statement; amendment; duration; lapse;fee; rules.(1) An effective financing statement for farm products as defined in ORS 80.100is sufficient to register a security interest in a farm product if thestatement:

      (a)Contains the name and address of the secured party;

      (b)Contains the name and address of each person, whether or not a debtor,subjecting the farm products to the security interest;

      (c)Contains the approved unique identifier of each person described in paragraph(b) of this subsection;

      (d)Describes the farm products subject to the security interest created by thedebtor, including the amount of the farm products when applicable, andidentifies the county in this state in which the farm products are produced orlocated;

      (e)Is signed, authorized or otherwise authenticated by the debtor;

      (f)Is an original or reproduced copy of the original; and

      (g)Is accompanied by the required filing fee.

      (2)An effective financing statement must be amended in writing within threemonths, similarly signed, authorized or otherwise authenticated, and filed, toreflect material changes.

      (3)An effective financing statement for farm products remains effective for aperiod of five years from the date of filing, subject to extensions foradditional periods of five years each by refiling or filing a continuationstatement within six months before the expiration of the five-year period.

      (4)An effective financing statement for farm products lapses on either theexpiration of the effective period of the statement or the filing of a noticesigned, authorized or otherwise authenticated by the secured party that thestatement has lapsed, whichever occurs first. Unless otherwise provided inwriting between the secured party and the debtor, a statement that theeffective financing statement has lapsed shall be filed within 15 days afterthere is no outstanding secured obligation and no commitment to make advances,incur obligations or otherwise give value under the security interest.

      (5)The Secretary of State shall, by rule, prescribe the filing fee for eacheffective financing statement for farm products or change to and continuationof the effective financing statement, and the filing fee for the notice thatthe effective financing statement has lapsed. Each effective financingstatement may reflect more than one type of farm product. The filing fee shallbe per debtor name.

      (6)An effective financing statement is sufficient if it complies with this sectioneven though it contains minor errors that are not seriously misleading.

      (7)The requirement under this section that a document be signed, authorized orotherwise authenticated by the debtor or the secured party is satisfied if thedebtor has executed a security agreement granting a security interest in thefarm products to the secured party. [Formerly 79.6060; 2005 c.191 §1; 2007c.186 §15]

 

      80.118Master list of farm products; list of buyers, commission merchants and sellingagents; distribution of master list; fee; rules. (1) Under thecentral filing system for farm products, the Secretary of State shall recordthe date and time of filing of effective financing statements or changesthereto, and compile this information into a master list organized according tofarm products. The Secretary of State shall by rule determine the categories offarm products.

      (2)Within each category of farm products, the Secretary of State shall arrange themaster list:

      (a)In alphabetical order by last name of the debtor or in the case of a debtordoing business other than as an individual, by the first word in the name ofsuch debtor;

      (b)In ascending alphabetical or numerical order, as appropriate, according to theapproved unique identifier of the individual debtor;

      (c)Geographically by county; and

      (d)By crop year.

      (3)The master list shall contain all the information on all the effectivefinancing statements filed in the system that have not lapsed. The master listshall be arranged to provide delivery to any registrant of any informationrelating to any product, produced in any county for any crop year covered bythe system and shall be in a form that is readable by humans without specialequipment.

      (4)The Secretary of State shall maintain a list of all buyers of farm products,commission merchants and selling agents who register with the Secretary ofState on a form indicating:

      (a)The name and address of each buyer, commission merchant and selling agent;

      (b)The interest of each buyer, commission merchant or selling agent in receivingthe master list on farm products; and

      (c)The farm products in which each buyer, commission merchant and selling agenthas an interest.

      (5)The Secretary of State shall distribute monthly to each buyer, commissionmerchant and selling agent registered under this section a copy of thoseportions of the master list that the buyer, commission merchant or sellingagent has registered an interest in receiving. The Secretary of State shall byrule prescribe the yearly subscription fee for such copies of the monthlymaster list. [Formerly 79.6070; 2007 c.186 §16]

 

      80.121Confirmation of existence of any effective financing statement; fee; rules. (1) On request,the Secretary of State shall furnish to persons not registered under ORS 80.118oral confirmation within 24 hours of the existence of any effective financingstatement followed by written confirmation to any buyer of farm products buyingfrom a debtor or commission merchant or selling agent selling for a sellercovered by such statement.

      (2)The request for oral confirmation shall be in writing and shall be presented tothe office of the Secretary of State during normal business hours.

      (3)Information on an effective financing statement may be furnished by telephoneto the requestor of an oral confirmation.

      (4)Oral confirmation shall be followed by written confirmation from the Secretaryof State within 48 hours after the oral confirmation.

      (5)The Secretary of State shall by rule prescribe the service fees for processingoral and written confirmation requests on effective financing statements. [Formerly79.6080]

 

      80.124Courtesy notice.Nothing in ORS 80.100 to 80.130 shall prevent a secured party from providing acourtesy notice to any person regarding the secured party’s security interestsin farm products. The rights or obligations of the secured party or any otherperson shall not be affected by the failure of a secured party to give acourtesy notice or by the accuracy or completeness of the information given insuch a notice. [Formerly 79.6090]

 

      80.127Place to file effective financing statement. The proper place to file aneffective financing statement on farm products as defined in ORS 80.100 is inthe office of the Secretary of State. [Formerly 79.7000]

 

      80.130Place to register as buyer of farm product, commission merchant or sellingagent; duration of registration; fee; rules. The proper place to registerunder ORS 80.118 as a buyer of farm products or a commission merchant or sellingagent of farm products as defined in ORS 80.100 is in the office of theSecretary of State. The registration is effective for one year following thedate of registration. Registration may be amended by filing a new registration.The Secretary of State shall, by rule, prescribe the registration fee. [Formerly79.7010]

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State Codes and Statutes

Statutes > Oregon > Vol2 > 080

Chapter 80 — Assignment;Central Filing System for Farm Products

 

2009 EDITION

 

 

ASSIGNMENT;FILING SYSTEM FOR FARM PRODUCTS

 

COMMERCIALTRANSACTIONS

 

ASSIGNMENT

 

80.010       Assignmentof chose in action; payment by debtor without notice

 

80.020       Effectof an assignment on a defense

 

CENTRALFILING SYSTEM FOR FARM PRODUCTS

 

80.100       Definitionsfor ORS 80.100 to 80.130

 

80.101       Approvedunique identifiers

 

80.103       Filingof statements in electronic format; rules

 

80.106       Establishmentof central filing system for farm products; fees; rules

 

80.109       Protectionof buyers of farm products, commission merchants and selling agents; exception

 

80.112       Whenbuyer of farm product, commission merchant and selling agent subject tosecurity interest in farm product created by seller

 

80.115       Requirementsfor effective financing statement; amendment; duration; lapse; fee; rules

 

80.118       Masterlist of farm products; list of buyers, commission merchants and selling agents;distribution of master list; fee; rules

 

80.121       Confirmationof existence of any effective financing statement; fee; rules

 

80.124       Courtesynotice

 

80.127       Placeto file effective financing statement

 

80.130       Placeto register as buyer of farm product, commission merchant or selling agent;duration of registration; fee; rules

 

ASSIGNMENT

 

      80.010Assignment of chose in action; payment by debtor without notice. Any bona fideassignment of a chose in action by way of sale or pledge made in writing for agood, valuable and adequate consideration is deemed completed at the time thewriting is executed by the assignor and takes effect at the time of executionaccording to the terms of the writing without the giving of notice to thedebtor therein mentioned unless such notice is required by statute; but ifnotice is not given to a debtor, and such debtor, without knowledge of theassignment pays or discharges in whole or in part the obligation of the debtorto the assignor or to any subsequent assignee of the chose in action who hasgiven notice, such payment constitutes a discharge of the debtor to the extentthereof without prejudice to any right or remedy between the several assignees.

 

      80.020Effect of an assignment on a defense. In the case of an assignment of a thingin action, an action or suit by the assignee is without prejudice to any setoffor other defense existing at the time of, or before notice of the assignment;but this section does not apply to a negotiable instrument transferred in goodfaith and upon good consideration before due.

 

CENTRALFILING SYSTEM FOR FARM PRODUCTS

 

      80.100Definitions for ORS 80.100 to 80.130. As used in ORS 80.100 to 80.130:

      (1)“Approved unique identifier” means a number, combination of numbers andletters, or another identifier that the Secretary of State prescribes by rule.

      (2)“Buyer” means a person who, in the ordinary course of business, buys farmproducts from a person engaged in farming operations who is in the business ofselling farm products.

      (3)“Central filing system” means a system for filing effective financing statementson a statewide basis that is operated by the Secretary of State and has beencertified by the Secretary of the United States Department of Agriculture.

      (4)“Commission merchant” means any person engaged in the business of receiving anyfarm product for sale, on commission, or for or on behalf of another person.

      (5)“Effective financing statement” means a document filed with the Secretary ofState to register and describe farm products subject to a security interestcreated by a debtor or seller of farm products that is an effective financingstatement under the provisions of section 1324 of the Food Security Act of1985, 7 U.S.C. 1631. An effective financing statement does not create orperfect a security interest.

      (6)“Farm product” means an agricultural commodity including but not limited towheat, corn, soybeans, or a species of fish or livestock such as cattle, hogs,sheep, horses or poultry used or produced in farming operations, or a productof such crop, fish or livestock in its unmanufactured state, including but notlimited to wool clip, milk and eggs, that is in the possession of a personengaged in farming operations.

      (7)“Knows” or “knowledge” means actual knowledge.

      (8)“Security interest” means an interest in farm products that secures payment orperformance of an obligation.

      (9)“Selling agent” means any person, other than a commission merchant, who isengaged in the business of negotiating the sale and purchase of any farmproduct on behalf of a person engaged in farming operations. [Formerly 79.6020;2007 c.186 §13]

 

      80.101Approved unique identifiers. (1) The Secretary of State shall devisea method or system to provide approved unique identifiers for persons filingdocuments under ORS 80.100 to 80.130.

      (2)If necessary under federal law, the Secretary of State shall seek approval ofthe method or system devised under subsection (1) of this section from theSecretary of the United States Department of Agriculture. [2007 c.186 §20]

 

      80.103Filing of statements in electronic format; rules. (1) Aneffective financing statement, amendment to an effective financing statement,continuation statement, statement that an effective financing statement haslapsed or other statement filed with the Secretary of State under ORS 80.100 to80.130 may be filed in an electronic format.

      (2)Statements filed electronically under this section shall conform to thetechnical specifications for electronic filing as prescribed by the Secretaryof State by rule.

      (3)Signatures required on any statement filed in an electronic format shall besupplied as electronic signatures as defined in ORS 84.004. [Formerly 79.6025]

 

      80.106Establishment of central filing system for farm products; fees; rules. (1) TheSecretary of State shall establish, implement and operate the central filingsystem for farm products.

      (2)The Secretary of State shall ensure that the central filing system for farmproducts described in ORS 80.100 to 80.130 complies with the requirements for acentral filing system as defined by 7 U.S.C. 1631 as that statute read onDecember 24, 1986.

      (3)The Secretary of State shall prescribe:

      (a)Rules, fees and forms to implement and operate the central filing system; and

      (b)Rules for providing and using approved unique identifiers for persons filing documentsunder ORS 80.100 to 80.130.

      (4)The fees prescribed by the Secretary of State under this section shall benonrefundable and shall not exceed the cost of administering the central filingsystem. [Formerly 79.6030; 2007 c.186 §14]

 

      80.109Protection of buyers of farm products, commission merchants and selling agents;exception.Except as provided in ORS 80.112, a buyer who in the ordinary course ofbusiness buys farm products from a seller engaged in farming operations shalltake free of a security interest created by the seller, and a commissionmerchant or selling agent who sells in the ordinary course of business farmproducts for others shall not be subject to a security interest created by theseller in such products, even though the security interest is perfected and thebuyer or commission merchant or selling agent knows of the existence of suchinterest. [Formerly 79.6040]

 

      80.112When buyer of farm product, commission merchant and selling agent subject tosecurity interest in farm product created by seller. Under thecentral filing system for farm products, a buyer of farm products or commissionmerchant or selling agent who sells farm products for others shall be subjectto a security interest in such farm products created by the seller if:

      (1)The buyer or commission merchant or selling agent has failed to register withthe Secretary of State prior to the purchase of farm products and the securedparty has filed an effective financing statement that covers the farm productsbeing sold;

      (2)The buyer or commission merchant or selling agent has received from theSecretary of State a copy of the master list of farm products or writtennotice, pursuant to ORS 80.118 or 80.121, that names the seller and specifiesthe farm products being sold by such seller as being subject to an effectivefinancing statement and the buyer or commission merchant or selling agent doesnot secure a waiver or release of the security interest specified in sucheffective financing statement from the secured party by performing any paymentobligation or otherwise; or

      (3)The buyer or commission merchant or selling agent participates in the Secretaryof State’s computer access program that names the seller and specifies the farmproducts being sold by such seller as being subject to an effective financingstatement and the buyer or commission merchant or selling agent does not securea waiver or release of the security interest specified in such effectivefinancing statement from the secured party by performing any payment obligationor otherwise. [Formerly 79.6050]

 

      80.115Requirements for effective financing statement; amendment; duration; lapse;fee; rules.(1) An effective financing statement for farm products as defined in ORS 80.100is sufficient to register a security interest in a farm product if thestatement:

      (a)Contains the name and address of the secured party;

      (b)Contains the name and address of each person, whether or not a debtor,subjecting the farm products to the security interest;

      (c)Contains the approved unique identifier of each person described in paragraph(b) of this subsection;

      (d)Describes the farm products subject to the security interest created by thedebtor, including the amount of the farm products when applicable, andidentifies the county in this state in which the farm products are produced orlocated;

      (e)Is signed, authorized or otherwise authenticated by the debtor;

      (f)Is an original or reproduced copy of the original; and

      (g)Is accompanied by the required filing fee.

      (2)An effective financing statement must be amended in writing within threemonths, similarly signed, authorized or otherwise authenticated, and filed, toreflect material changes.

      (3)An effective financing statement for farm products remains effective for aperiod of five years from the date of filing, subject to extensions foradditional periods of five years each by refiling or filing a continuationstatement within six months before the expiration of the five-year period.

      (4)An effective financing statement for farm products lapses on either theexpiration of the effective period of the statement or the filing of a noticesigned, authorized or otherwise authenticated by the secured party that thestatement has lapsed, whichever occurs first. Unless otherwise provided inwriting between the secured party and the debtor, a statement that theeffective financing statement has lapsed shall be filed within 15 days afterthere is no outstanding secured obligation and no commitment to make advances,incur obligations or otherwise give value under the security interest.

      (5)The Secretary of State shall, by rule, prescribe the filing fee for eacheffective financing statement for farm products or change to and continuationof the effective financing statement, and the filing fee for the notice thatthe effective financing statement has lapsed. Each effective financingstatement may reflect more than one type of farm product. The filing fee shallbe per debtor name.

      (6)An effective financing statement is sufficient if it complies with this sectioneven though it contains minor errors that are not seriously misleading.

      (7)The requirement under this section that a document be signed, authorized orotherwise authenticated by the debtor or the secured party is satisfied if thedebtor has executed a security agreement granting a security interest in thefarm products to the secured party. [Formerly 79.6060; 2005 c.191 §1; 2007c.186 §15]

 

      80.118Master list of farm products; list of buyers, commission merchants and sellingagents; distribution of master list; fee; rules. (1) Under thecentral filing system for farm products, the Secretary of State shall recordthe date and time of filing of effective financing statements or changesthereto, and compile this information into a master list organized according tofarm products. The Secretary of State shall by rule determine the categories offarm products.

      (2)Within each category of farm products, the Secretary of State shall arrange themaster list:

      (a)In alphabetical order by last name of the debtor or in the case of a debtordoing business other than as an individual, by the first word in the name ofsuch debtor;

      (b)In ascending alphabetical or numerical order, as appropriate, according to theapproved unique identifier of the individual debtor;

      (c)Geographically by county; and

      (d)By crop year.

      (3)The master list shall contain all the information on all the effectivefinancing statements filed in the system that have not lapsed. The master listshall be arranged to provide delivery to any registrant of any informationrelating to any product, produced in any county for any crop year covered bythe system and shall be in a form that is readable by humans without specialequipment.

      (4)The Secretary of State shall maintain a list of all buyers of farm products,commission merchants and selling agents who register with the Secretary ofState on a form indicating:

      (a)The name and address of each buyer, commission merchant and selling agent;

      (b)The interest of each buyer, commission merchant or selling agent in receivingthe master list on farm products; and

      (c)The farm products in which each buyer, commission merchant and selling agenthas an interest.

      (5)The Secretary of State shall distribute monthly to each buyer, commissionmerchant and selling agent registered under this section a copy of thoseportions of the master list that the buyer, commission merchant or sellingagent has registered an interest in receiving. The Secretary of State shall byrule prescribe the yearly subscription fee for such copies of the monthlymaster list. [Formerly 79.6070; 2007 c.186 §16]

 

      80.121Confirmation of existence of any effective financing statement; fee; rules. (1) On request,the Secretary of State shall furnish to persons not registered under ORS 80.118oral confirmation within 24 hours of the existence of any effective financingstatement followed by written confirmation to any buyer of farm products buyingfrom a debtor or commission merchant or selling agent selling for a sellercovered by such statement.

      (2)The request for oral confirmation shall be in writing and shall be presented tothe office of the Secretary of State during normal business hours.

      (3)Information on an effective financing statement may be furnished by telephoneto the requestor of an oral confirmation.

      (4)Oral confirmation shall be followed by written confirmation from the Secretaryof State within 48 hours after the oral confirmation.

      (5)The Secretary of State shall by rule prescribe the service fees for processingoral and written confirmation requests on effective financing statements. [Formerly79.6080]

 

      80.124Courtesy notice.Nothing in ORS 80.100 to 80.130 shall prevent a secured party from providing acourtesy notice to any person regarding the secured party’s security interestsin farm products. The rights or obligations of the secured party or any otherperson shall not be affected by the failure of a secured party to give acourtesy notice or by the accuracy or completeness of the information given insuch a notice. [Formerly 79.6090]

 

      80.127Place to file effective financing statement. The proper place to file aneffective financing statement on farm products as defined in ORS 80.100 is inthe office of the Secretary of State. [Formerly 79.7000]

 

      80.130Place to register as buyer of farm product, commission merchant or sellingagent; duration of registration; fee; rules. The proper place to registerunder ORS 80.118 as a buyer of farm products or a commission merchant or sellingagent of farm products as defined in ORS 80.100 is in the office of theSecretary of State. The registration is effective for one year following thedate of registration. Registration may be amended by filing a new registration.The Secretary of State shall, by rule, prescribe the registration fee. [Formerly79.7010]

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State Codes and Statutes

State Codes and Statutes

Statutes > Oregon > Vol2 > 080

Chapter 80 — Assignment;Central Filing System for Farm Products

 

2009 EDITION

 

 

ASSIGNMENT;FILING SYSTEM FOR FARM PRODUCTS

 

COMMERCIALTRANSACTIONS

 

ASSIGNMENT

 

80.010       Assignmentof chose in action; payment by debtor without notice

 

80.020       Effectof an assignment on a defense

 

CENTRALFILING SYSTEM FOR FARM PRODUCTS

 

80.100       Definitionsfor ORS 80.100 to 80.130

 

80.101       Approvedunique identifiers

 

80.103       Filingof statements in electronic format; rules

 

80.106       Establishmentof central filing system for farm products; fees; rules

 

80.109       Protectionof buyers of farm products, commission merchants and selling agents; exception

 

80.112       Whenbuyer of farm product, commission merchant and selling agent subject tosecurity interest in farm product created by seller

 

80.115       Requirementsfor effective financing statement; amendment; duration; lapse; fee; rules

 

80.118       Masterlist of farm products; list of buyers, commission merchants and selling agents;distribution of master list; fee; rules

 

80.121       Confirmationof existence of any effective financing statement; fee; rules

 

80.124       Courtesynotice

 

80.127       Placeto file effective financing statement

 

80.130       Placeto register as buyer of farm product, commission merchant or selling agent;duration of registration; fee; rules

 

ASSIGNMENT

 

      80.010Assignment of chose in action; payment by debtor without notice. Any bona fideassignment of a chose in action by way of sale or pledge made in writing for agood, valuable and adequate consideration is deemed completed at the time thewriting is executed by the assignor and takes effect at the time of executionaccording to the terms of the writing without the giving of notice to thedebtor therein mentioned unless such notice is required by statute; but ifnotice is not given to a debtor, and such debtor, without knowledge of theassignment pays or discharges in whole or in part the obligation of the debtorto the assignor or to any subsequent assignee of the chose in action who hasgiven notice, such payment constitutes a discharge of the debtor to the extentthereof without prejudice to any right or remedy between the several assignees.

 

      80.020Effect of an assignment on a defense. In the case of an assignment of a thingin action, an action or suit by the assignee is without prejudice to any setoffor other defense existing at the time of, or before notice of the assignment;but this section does not apply to a negotiable instrument transferred in goodfaith and upon good consideration before due.

 

CENTRALFILING SYSTEM FOR FARM PRODUCTS

 

      80.100Definitions for ORS 80.100 to 80.130. As used in ORS 80.100 to 80.130:

      (1)“Approved unique identifier” means a number, combination of numbers andletters, or another identifier that the Secretary of State prescribes by rule.

      (2)“Buyer” means a person who, in the ordinary course of business, buys farmproducts from a person engaged in farming operations who is in the business ofselling farm products.

      (3)“Central filing system” means a system for filing effective financing statementson a statewide basis that is operated by the Secretary of State and has beencertified by the Secretary of the United States Department of Agriculture.

      (4)“Commission merchant” means any person engaged in the business of receiving anyfarm product for sale, on commission, or for or on behalf of another person.

      (5)“Effective financing statement” means a document filed with the Secretary ofState to register and describe farm products subject to a security interestcreated by a debtor or seller of farm products that is an effective financingstatement under the provisions of section 1324 of the Food Security Act of1985, 7 U.S.C. 1631. An effective financing statement does not create orperfect a security interest.

      (6)“Farm product” means an agricultural commodity including but not limited towheat, corn, soybeans, or a species of fish or livestock such as cattle, hogs,sheep, horses or poultry used or produced in farming operations, or a productof such crop, fish or livestock in its unmanufactured state, including but notlimited to wool clip, milk and eggs, that is in the possession of a personengaged in farming operations.

      (7)“Knows” or “knowledge” means actual knowledge.

      (8)“Security interest” means an interest in farm products that secures payment orperformance of an obligation.

      (9)“Selling agent” means any person, other than a commission merchant, who isengaged in the business of negotiating the sale and purchase of any farmproduct on behalf of a person engaged in farming operations. [Formerly 79.6020;2007 c.186 §13]

 

      80.101Approved unique identifiers. (1) The Secretary of State shall devisea method or system to provide approved unique identifiers for persons filingdocuments under ORS 80.100 to 80.130.

      (2)If necessary under federal law, the Secretary of State shall seek approval ofthe method or system devised under subsection (1) of this section from theSecretary of the United States Department of Agriculture. [2007 c.186 §20]

 

      80.103Filing of statements in electronic format; rules. (1) Aneffective financing statement, amendment to an effective financing statement,continuation statement, statement that an effective financing statement haslapsed or other statement filed with the Secretary of State under ORS 80.100 to80.130 may be filed in an electronic format.

      (2)Statements filed electronically under this section shall conform to thetechnical specifications for electronic filing as prescribed by the Secretaryof State by rule.

      (3)Signatures required on any statement filed in an electronic format shall besupplied as electronic signatures as defined in ORS 84.004. [Formerly 79.6025]

 

      80.106Establishment of central filing system for farm products; fees; rules. (1) TheSecretary of State shall establish, implement and operate the central filingsystem for farm products.

      (2)The Secretary of State shall ensure that the central filing system for farmproducts described in ORS 80.100 to 80.130 complies with the requirements for acentral filing system as defined by 7 U.S.C. 1631 as that statute read onDecember 24, 1986.

      (3)The Secretary of State shall prescribe:

      (a)Rules, fees and forms to implement and operate the central filing system; and

      (b)Rules for providing and using approved unique identifiers for persons filing documentsunder ORS 80.100 to 80.130.

      (4)The fees prescribed by the Secretary of State under this section shall benonrefundable and shall not exceed the cost of administering the central filingsystem. [Formerly 79.6030; 2007 c.186 §14]

 

      80.109Protection of buyers of farm products, commission merchants and selling agents;exception.Except as provided in ORS 80.112, a buyer who in the ordinary course ofbusiness buys farm products from a seller engaged in farming operations shalltake free of a security interest created by the seller, and a commissionmerchant or selling agent who sells in the ordinary course of business farmproducts for others shall not be subject to a security interest created by theseller in such products, even though the security interest is perfected and thebuyer or commission merchant or selling agent knows of the existence of suchinterest. [Formerly 79.6040]

 

      80.112When buyer of farm product, commission merchant and selling agent subject tosecurity interest in farm product created by seller. Under thecentral filing system for farm products, a buyer of farm products or commissionmerchant or selling agent who sells farm products for others shall be subjectto a security interest in such farm products created by the seller if:

      (1)The buyer or commission merchant or selling agent has failed to register withthe Secretary of State prior to the purchase of farm products and the securedparty has filed an effective financing statement that covers the farm productsbeing sold;

      (2)The buyer or commission merchant or selling agent has received from theSecretary of State a copy of the master list of farm products or writtennotice, pursuant to ORS 80.118 or 80.121, that names the seller and specifiesthe farm products being sold by such seller as being subject to an effectivefinancing statement and the buyer or commission merchant or selling agent doesnot secure a waiver or release of the security interest specified in sucheffective financing statement from the secured party by performing any paymentobligation or otherwise; or

      (3)The buyer or commission merchant or selling agent participates in the Secretaryof State’s computer access program that names the seller and specifies the farmproducts being sold by such seller as being subject to an effective financingstatement and the buyer or commission merchant or selling agent does not securea waiver or release of the security interest specified in such effectivefinancing statement from the secured party by performing any payment obligationor otherwise. [Formerly 79.6050]

 

      80.115Requirements for effective financing statement; amendment; duration; lapse;fee; rules.(1) An effective financing statement for farm products as defined in ORS 80.100is sufficient to register a security interest in a farm product if thestatement:

      (a)Contains the name and address of the secured party;

      (b)Contains the name and address of each person, whether or not a debtor,subjecting the farm products to the security interest;

      (c)Contains the approved unique identifier of each person described in paragraph(b) of this subsection;

      (d)Describes the farm products subject to the security interest created by thedebtor, including the amount of the farm products when applicable, andidentifies the county in this state in which the farm products are produced orlocated;

      (e)Is signed, authorized or otherwise authenticated by the debtor;

      (f)Is an original or reproduced copy of the original; and

      (g)Is accompanied by the required filing fee.

      (2)An effective financing statement must be amended in writing within threemonths, similarly signed, authorized or otherwise authenticated, and filed, toreflect material changes.

      (3)An effective financing statement for farm products remains effective for aperiod of five years from the date of filing, subject to extensions foradditional periods of five years each by refiling or filing a continuationstatement within six months before the expiration of the five-year period.

      (4)An effective financing statement for farm products lapses on either theexpiration of the effective period of the statement or the filing of a noticesigned, authorized or otherwise authenticated by the secured party that thestatement has lapsed, whichever occurs first. Unless otherwise provided inwriting between the secured party and the debtor, a statement that theeffective financing statement has lapsed shall be filed within 15 days afterthere is no outstanding secured obligation and no commitment to make advances,incur obligations or otherwise give value under the security interest.

      (5)The Secretary of State shall, by rule, prescribe the filing fee for eacheffective financing statement for farm products or change to and continuationof the effective financing statement, and the filing fee for the notice thatthe effective financing statement has lapsed. Each effective financingstatement may reflect more than one type of farm product. The filing fee shallbe per debtor name.

      (6)An effective financing statement is sufficient if it complies with this sectioneven though it contains minor errors that are not seriously misleading.

      (7)The requirement under this section that a document be signed, authorized orotherwise authenticated by the debtor or the secured party is satisfied if thedebtor has executed a security agreement granting a security interest in thefarm products to the secured party. [Formerly 79.6060; 2005 c.191 §1; 2007c.186 §15]

 

      80.118Master list of farm products; list of buyers, commission merchants and sellingagents; distribution of master list; fee; rules. (1) Under thecentral filing system for farm products, the Secretary of State shall recordthe date and time of filing of effective financing statements or changesthereto, and compile this information into a master list organized according tofarm products. The Secretary of State shall by rule determine the categories offarm products.

      (2)Within each category of farm products, the Secretary of State shall arrange themaster list:

      (a)In alphabetical order by last name of the debtor or in the case of a debtordoing business other than as an individual, by the first word in the name ofsuch debtor;

      (b)In ascending alphabetical or numerical order, as appropriate, according to theapproved unique identifier of the individual debtor;

      (c)Geographically by county; and

      (d)By crop year.

      (3)The master list shall contain all the information on all the effectivefinancing statements filed in the system that have not lapsed. The master listshall be arranged to provide delivery to any registrant of any informationrelating to any product, produced in any county for any crop year covered bythe system and shall be in a form that is readable by humans without specialequipment.

      (4)The Secretary of State shall maintain a list of all buyers of farm products,commission merchants and selling agents who register with the Secretary ofState on a form indicating:

      (a)The name and address of each buyer, commission merchant and selling agent;

      (b)The interest of each buyer, commission merchant or selling agent in receivingthe master list on farm products; and

      (c)The farm products in which each buyer, commission merchant and selling agenthas an interest.

      (5)The Secretary of State shall distribute monthly to each buyer, commissionmerchant and selling agent registered under this section a copy of thoseportions of the master list that the buyer, commission merchant or sellingagent has registered an interest in receiving. The Secretary of State shall byrule prescribe the yearly subscription fee for such copies of the monthlymaster list. [Formerly 79.6070; 2007 c.186 §16]

 

      80.121Confirmation of existence of any effective financing statement; fee; rules. (1) On request,the Secretary of State shall furnish to persons not registered under ORS 80.118oral confirmation within 24 hours of the existence of any effective financingstatement followed by written confirmation to any buyer of farm products buyingfrom a debtor or commission merchant or selling agent selling for a sellercovered by such statement.

      (2)The request for oral confirmation shall be in writing and shall be presented tothe office of the Secretary of State during normal business hours.

      (3)Information on an effective financing statement may be furnished by telephoneto the requestor of an oral confirmation.

      (4)Oral confirmation shall be followed by written confirmation from the Secretaryof State within 48 hours after the oral confirmation.

      (5)The Secretary of State shall by rule prescribe the service fees for processingoral and written confirmation requests on effective financing statements. [Formerly79.6080]

 

      80.124Courtesy notice.Nothing in ORS 80.100 to 80.130 shall prevent a secured party from providing acourtesy notice to any person regarding the secured party’s security interestsin farm products. The rights or obligations of the secured party or any otherperson shall not be affected by the failure of a secured party to give acourtesy notice or by the accuracy or completeness of the information given insuch a notice. [Formerly 79.6090]

 

      80.127Place to file effective financing statement. The proper place to file aneffective financing statement on farm products as defined in ORS 80.100 is inthe office of the Secretary of State. [Formerly 79.7000]

 

      80.130Place to register as buyer of farm product, commission merchant or sellingagent; duration of registration; fee; rules. The proper place to registerunder ORS 80.118 as a buyer of farm products or a commission merchant or sellingagent of farm products as defined in ORS 80.100 is in the office of theSecretary of State. The registration is effective for one year following thedate of registration. Registration may be amended by filing a new registration.The Secretary of State shall, by rule, prescribe the registration fee. [Formerly79.7010]

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