SECURED TRANSACTIONS IN MOVABLE ASSETS

Section 13: Consent to Register a Financing Statement

2017Section 13 of 64Federal Republic of Nigeria

(1) Registration of an initial financing statement is ineffective unless the Grantor consented to it in writing.
(2) A security agreement in accordance with Section 4 is sufficient to constitute consent by the Grantor for the registration of an initial or amendment financing statement covering the collateral described therein.
(3) The Grantor may give consent in writing to register a financing statement prior to the conclusion of a security agreement.
(4) Registration of an Amendment Financing Statement is ineffective unless consented to by the Grantor in writing if the Amendment Financing Statement:
(a) Adds a description of new collateral;or
(b) Adds a new Grantor unless the new Grantor is a transferee of the collateral already described in the registration.

Cite this section

Section 13, SECURED TRANSACTIONS IN MOVABLE ASSETS (2017).

https://repo.podus.ai/laws/secured-transactions-in-movable-assets/section/13/