When the Grantor May Demand Amendment or Termination of Notice.
Section 39
SEC. 39. When the Grantor May Demand Amendment or Termination of Notice. - A grantor may give a written demand to the secured creditor to amend or terminate the effectiveness of the notice if: (a) All the obligations under the security agreement to which the registration relates have been performed and there is no commitment to make future advances; (b) The secured creditor has agreed to release part of the collateral described in the notice; (c) The collateral described in the notice includes an item or kind of property that is not a collateral under a security agreement between the secured creditor and the grantor; (d) No security agreement exists between the parties; or (e) The security interest is extinguished in accordance with this Act.