Tribal Law - Turtle Mountain Band of Chippewa Indians of North Dakota; National Indian Law Library, Native American Rights Fund

Turtle Mountain Band of Chippewa Indians of North Dakota - Tribal Law

Disclaimer: Although every effort is made to present current and accurate information, if you need an official version of the tribe’s laws, please contact the tribe.

To contact the Turtle Mountain Band of Chippewa, visit the tribe's website. The tribe also publishes their laws through the law library on their website.

Turtle Mountain Band of Chippewa Indians Tribal Code.

24.44.380 Priority of Security Interest Perfected by Filed Financing Statement Providing Certain Incorrect Information

If a security interest is perfected by a filed financing statement providing information described in subdivision (5) of subsection (b) of Section 24.46.150 which is incorrect at the time the financing statement is filed:

(a) The security interest is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and

(b) A purchaser, other than a secured party, of the collateral takes free of the security interest to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instruments, or a security certificate, receives delivery of the collateral.