MN SF194

Amends Minnesota's Uniform Commercial Code Article 9 to update secured transactions law, effective July 1, 2013, including revisions to definitions, control of electronic chattel paper, debtor location rules, and financing statement requirements.

Modifies "authenticate" definition to clarify electronic signatures and record adoption, updates "certificate of title" to include alternative governmental records, and adds new "public organic record" definition for business formation documents.

Revises debtor naming requirements in financing statements to accommodate individuals with driver's licenses or state identification cards, decedent estates under personal representatives, and collateral held in trusts with specific naming conventions.

Changes financing statement content rules, including updates to electronic chattel paper control standards, amendment terminology (from "revision" to "amendment"), and new provisions for information statements regarding inaccurate or wrongfully filed records.

Establishes transition provisions for security interests perfected before July 1, 2013, allowing one-year grace period to comply with new perfection requirements and permitting initial financing statements to continue effectiveness of pre-existing filings.