§ 9-512. Amendment of financing statement.

408 words·~2 min read·/de/title-6/chapter-9/9-512

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Amendment of information in financing statement. — Subject to Section 9-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e), otherwise amend the information provided in, a financing statement by filing an amendment that:

(1)identifies, by its file number, the initial financing statement to which the amendment relates; and

(2)if the amendment relates to an initial financing statement filed in a filing office described in Section 9-501(a)(1), provides the information specified in Section 9-502(b).

(b)Period of effectiveness not affected. — Except as otherwise provided in Section 9-515, the filing of an amendment does not extend the period of effectiveness of the financing statement.

(c)Effectiveness of amendment adding collateral. — A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment.

(d)Effectiveness of amendment adding debtor. — A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment.

(e)Certain amendments ineffective. — An amendment is ineffective to the extent it:

(1)purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or

(2)purports to delete all secured parties of record and fails to provide the name of a new secured party of record.

(f)Conversion of debtor. — Subject to Section 9-316:

(1)If a conversion of a debtor from one type of organization to another results in the converted organization being the same organization by operation of the laws governing such conversion and the name of the debtor changes as a result of such conversion, then such conversion shall constitute a change in such debtor’s name for purposes of Section 9-507(c);

(2)If a conversion of a debtor from one type of organization to another results in the converted organization being the same organization by operation of the laws governing such conversion, then such organization shall not constitute a new debtor for purposes of Section 9-508; and

(3)If a conversion of a debtor from one type of organization to another results in the converted organization being a different organization by operation of the laws governing such conversion, then such organization shall constitute a new debtor for purposes of Section 9-508.