ORS 79.0619¹
UCC 9-619. Transfer of record or legal title

(1) As used in this section, "transfer statement" means a record authenticated by a secured party stating:

(a) That the debtor has defaulted in connection with an obligation secured by specified collateral;

(b) That the secured party has exercised its post-default remedies with respect to the collateral;

(c) That, by reason of the exercise, a transferee has acquired the rights of the debtor in the collateral; and

(d) The name and mailing address of the secured party, debtor and transferee.

(2) A transfer statement entitles the transferee to the transfer of record of all rights of the debtor in the collateral specified in the statement in any official filing, recording, registration or certificate-of-title system covering the collateral. If a transfer statement is presented with the applicable fee and request form to the official or office responsible for maintaining the system, the official or office shall:

(a) Accept the transfer statement;

(b) Promptly amend its records to reflect the transfer; and

(c) If applicable, issue a new appropriate certificate of title in the name of the transferee.

(3) A transfer of the record or legal title to collateral to a secured party under subsection (2) of this section or otherwise is not of itself a disposition of collateral under this chapter and does not of itself relieve the secured party of its duties under this chapter. [2001 c.445 §117]

Chapter 79

Note

Subject sec­tions all sub­se­quently renumbered or repealed

Notes of Decisions

The require­ments of this chapter necessary to grant the peti­tioner a security interest in the first net proceeds were satisfied. Great W. Nat. Bank v. Hill, 27 Or App 893, 557 P2d 1367 (1976), Sup Ct review denied

This chapter applies to the assign­ment of proceeds of a pending lawsuit. Great W. Nat. Bank v. Hill, 27 Or App 893, 557 P2d 1367 (1976), Sup Ct review denied

Where lease instru­ment covering farm tractor re­quired lessee to be responsible for taxes and insurance, to bear risk of loss and excluded warranties of fitness and merchantability; at end of lease period fair market wholesale value of tractor would be substantially less than actual estimated value; and common practice was for lessees to purchase tractors for anticipated fair market wholesale value, instru­ment was security agree­ment governed by this chapter. Appleway Leasing Inc., v. Wilken, 39 Or App 43, 591 P2d 382 (1979)

Clear and unequivocal ac­tions manifesting party's intent to waive may be proved by parol and circumstantial evidence as well as by direct testimony. Bank of Eastern Oregon v. Griffith, 101 Or App 528, 792 P2d 1210 (1990)

Law Review Cita­tions

12 WLJ 207-264 (1976); 16 WLR 755 (1980); 75 OLR 493 (1996)

1 Legislative Counsel Committee, CHAPTER 79—Secured Transactions, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors79.­pdf (2007) (last ac­cessed Feb. 12, 2009).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 79, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­079ano.­htm (2007) (last ac­cessed Feb. 12, 2009).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information