North Dakota § 41-09-15 - (9-205) Use or disposition of collateral permissible
Full text of North Dakota North Dakota Century Code § 41-09-15 — (9-205) Use or disposition of collateral permissible, with citation guidance and answers to common questions.
§ 41-09-15. (9-205) Use or disposition of collateral permissible
1. A security interest is not invalid or fraudulent against creditors solely because: a. The debtor has the right or ability to: (1) Use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; (2) Collect, compromise, enforce, or otherwise deal with collateral; (3) Accept the return of collateral or make repossessions; or (4) Use, commingle, or dispose of proceeds; or b. The secured party fails to require the debtor to account for proceeds or replace collateral. 2. This section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 41-09-15
What does North Dakota Century Code § 41-09-15 cover?
Section 41-09-15 ("(9-205) Use or disposition of collateral permissible") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 41-09-15?
A common citation format is "North Dakota Century Code § 41-09-15" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 41-09-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.