Chapter 9.25
SECURED TRANSACTIONS

Sections:

9.25.010    Purpose.

9.25.020    Authority to grant security interests.

9.25.030    Form for security interest grant.

9.25.040    Enforceability of approved loan document.

9.25.050    Governing law.

9.25.060    Remedies.

9.25.070    Recording.

9.25.080    Jurisdiction.

9.25.090    Effect of amendment or repeal.

9.25.010 Purpose.

The purpose of this chapter is to provide a mechanism for the creation and perfection of security interests in personal property owned by the Chehalis Tribe or its entities under those circumstances in which such personal property, whether tangible or intangible, serves as security for obligations of the Tribe or entities controlled by the Tribe. [Res. 2015-75; Res. 2011-020; Res. 2007-86; Res. 1995-29. Prior code § 6.1.1.010.]

9.25.020 Authority to grant security interests.

The Business Committee, on behalf of the Confederated Tribes of the Chehalis Indian Reservation, and the governing body of any corporation, commission, authority, agency or other entity owned or controlled by the Tribe, which is empowered by its charter or other Tribal ordinance to borrow funds, on behalf of any such entity, are authorized and empowered to review and approve the form or forms of any note, security agreement, financing statement or other instrument evidencing, securing, or relating to any contract, loan or extension of credit made with, to, or for the benefit of the Tribe or any entity controlled by the Tribe, respectively, as such may relate to a transaction that is secured in whole or in part by any personal property of the Tribe or such entity. [Res. 2016-17; Res. 2015-75; Res. 2011-020; Res. 2007-86; Res. 1995-29. Prior code § 6.1.1.020.]

9.25.030 Form for security interest grant.

A written resolution of the Business Committee or such other governing body approving the form of any instrument creating a security interest in personal property of the Tribe or an entity controlled by the Tribe, which is certified by the Secretary or other appropriate official as having been duly adopted, shall be conclusive evidence of such approval, and any form so approved shall be an “approved loan document” for purposes of this chapter. [Res. 2015-75; Res. 2011-020; Res. 2007-86; Res. 1995-29. Prior code § 6.1.1.030.]

9.25.040 Enforceability of approved loan document.

Upon proper authorization, execution and delivery of any approved loan document, such approved loan document shall be valid, binding and enforceable in the Tribal Court in accordance with its terms. [Res. 2016-17; Res. 2015-75; Res. 2011-020; Res. 2007-86; Res. 1995-29. Prior code § 6.1.1.040.]

9.25.050 Governing law.

Article 9 of the Uniform Commercial Code, as enacted in the State of Washington, Chapter 62A.9A RCW, as the same shall be amended from time to time, shall govern with respect to the creation, attachment, perfection, priority and enforcement of any security interest in personal property granted by the Tribe or any Tribally controlled entity as to personal property directly utilized in the activity which is the subject of the approved loan document. [Res. 2015-75; Res. 2011-020; Res. 2007-86; Res. 1995-29. Prior code § 6.1.1.050.]

9.25.060 Remedies.

Except as limited by the terms of any agreement between the parties, the secured party and its successors and assigns shall be entitled to exercise any remedy available under the laws of the Chehalis Tribe and contained in Chapter 62A.9A, in the event of a default by the debtor under any security agreement which is the subject of this chapter. [Res. 2015-75; Res. 2011-020; Res. 2007-86; Res. 1995-29. Prior code § 6.1.1.060.]

9.25.070 Recording.

A. Location of Records. The Secretary shall maintain in the Tribal offices a system for the recording of security interests.

B. Recording Identification. The Secretary shall endorse upon any security agreement or other document received for recording:

1. The date and time of receipt of the security agreement or other document;

2. The filing number, as assigned by the Secretary, which shall be a unique number for each security agreement or other document received; and

3. The name of the Secretary receiving the document for recording.

C. Certification of Record by Secretary. Upon completion of the endorsements specified in subsection B of this section, the Secretary shall make a true and correct copy of the security agreement or other document, and shall certify the copy as constituting a true and correct copy of a document received on a specific date.

D. Copy of Recorded Document. The Secretary shall maintain a copy in the records of the recording system and shall return the original of the security agreement or other document to the person or entity that presented such for recording. [Res. 2016-17; Res. 2015-75; Res. 2011-020; Res. 2007-86; Res. 1995-29. Prior code § 6.1.1.070.]

9.25.080 Jurisdiction.

The Tribal Court may adjudicate any action by a secured party pursuant to this chapter and the Tribal Code. The Tribal Court shall give full faith and credit to any final order or judgment of any other court of competent jurisdiction in any such action, and shall enjoin any person from interfering with the execution or carrying out of any such order or judgment. [Res. 2015-75; Res. 2011-020; Res. 2007-86; Res. 1995-29. Prior code § 6.1.1.080.]

9.25.090 Effect of amendment or repeal.

No amendment or repeal of this chapter shall be effective with respect to any security interest that is:

A. Subject to the terms of this chapter when perfected; and

B. Existing at the time of such amendment or repeal. [Res. 2015-75; Res. 2011-020; Res. 2007-86; Res. 1995-29. Prior code § 6.1.1.090.]