1. A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under subsection 1 of section 41 -09-85, the assignee named in the initial financing statement is the secured party of record with respect to the financing statement. 2. If an amendment of a financing statement which provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under subsection 2 of section 41 -09-85, the assignee named in the amendment is a secured party of record. 3. A person remains a secured party of record until the filing of an amendment of the financing statement which deletes the person.
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