11-9-707. Amendment of pre-effective date financing statement.
376 words·~2 min read·
/ga/title-11-commercial-code/part-7-2001-transition/11-9-707·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“Pre-effective date financing statement.” In this Code section, “pre-effective date financing statement” means a financing statement filed before July 1, 2001.
Applicable law. On or after July 1, 2001, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in a pre-effective date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in Part 3 of this article. However, the effectiveness of a pre-effective date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
Method of amending: general rule. Except as otherwise provided in subsection
(d)of this Code section, if the law of this state governs perfection of a security interest, the information in a pre-effective date financing statement may be amended on or after July 1, 2001, only if:
The pre-effective date financing statement and an amendment are filed in the office specified in Code Section 11-9-501;
An amendment is filed in the office specified in Code Section 11-9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies subsection
(c)of Code Section 11-9-706; or
An initial financing statement that provides the information as amended and satisfies subsection
(c)of Code Section 11-9-706 is filed in the office specified in Code Section 11-9-501.
Method of amending: continuation. If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective date financing statement may be continued only under subsections
(d)and
(f)of Code Section 11-9-705 or Code Section 11-9-706.
Method of amending: additional termination rule. Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective date financing statement filed in this state may be terminated on and after July 1, 2001, by filing a termination statement in the office in which the pre-effective date financing statement is filed, unless an initial financing statement that satisfies subsection
(c)of Code Section 11-9-706 has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Part 3 of this article as the office in which to file a financing statement.