(9-314A) Perfection by possession and control of chattel paper
N.D. Cent. Code § 41-09-34.1
in effect41-09-34.1. (9-314A) Perfection by possession and control of chattel paper
1. A secured party may perfect a security interest in chattel paper by taking possession of
each authoritative tangible copy of the record evidencing the chattel paper and
obtaining control of each authoritative electronic copy of the electronic record
evidencing the chattel paper.
2. A security interest is perfected under subsection 1 not earlier than the time the secured
party takes possession and obtains control and remains perfected under subsection 1
only while the secured party retains possession and control.
3. Subsections 3 and 6 through 9 of section 41-09-33 applies to perfection by possession
of an authoritative tangible copy of a record evidencing chattel paper.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t41c09.pdf#nameddest=41-09-34p1Fetched: 10/16/2026