{"data":{"id":"us-mt/30-9a-513","jurisdiction":"us-mt","citation":"30-9A-513","heading":"Termination statement.","body":"(1) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and:\n(a) there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or\n(b) the debtor did not authorize the filing of the initial financing statement.\n(2) To comply with subsection (1), a secured party shall cause the secured party of record to file the termination statement:\n(a) within 1 month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or\n(b) if earlier, within 20 days after the secured party receives a signed demand from a debtor.\n(3) In cases not governed by subsection (1), within 20 days after a secured party receives a signed demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if:\n(a) except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;\n(b) the financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation;\n(c) the financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession; or\n(d) the debtor did not authorize the filing of the initial financing statement.\n(4) Except as otherwise provided in 30-9A-510, upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in 30-9A-510, for purposes of 30-9A-519(7), 30-9A-522(1), and 30-9A-523(3), the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.","path":["TITLE 30. TRADE AND COMMERCE","CHAPTER 9A. UNIFORM COMMERCIAL CODE SECURED TRANSACTIONS","Part 5. Filing"],"source_url":"https://mca.legmt.gov/bills/mca/title_0300/chapter_009A/part_0050/section_0130/0300-009A-0050-0130.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:51:15Z","sha256":"844214ef1555fdf702b1ca9e501ed2ba724a50c96b86fbcbf8715c71468f2c82","source_id":"us-mt","stale":false,"prev":"us-mt/30-9a-512","next":"us-mt/30-9a-514"},"notice":"GroundRules: Original legal text. Not legal advice."}