§ 36-9-103. However, except as otherwise provided in subsections (d) and (e) and Section 36-9-706, the financing statement ceases to.
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§ 36-9-103. However, except as otherwise provided in subsections
(d)and
(e)and Section 36-9-706, the financing statement ceases to be effective at the earlier of:
(1)the time the financing statement would have ceased to be effective under the law of the jurisdiction in which it is filed; or
(2)June 30, 2006.
(d)The filing of a continuation statement after this act takes effect does not continue the effectiveness of the financing statement filed before this act takes effect. However, upon the timely filing of a continuation statement after this act takes effect and in accordance with the law of the jurisdiction governing perfection as provided in Part 3, the effectiveness of a financing statement filed in the same office in that jurisdiction before this act takes effect continues for the period provided by the law of that jurisdiction.
(e)Subsection (c)(2) applies to a financing statement that, before this act takes effect, is filed against a transmitting utility and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in former Section 36-9-103 only to the extent that Part 3 provides that the law of a jurisdiction other than the jurisdiction in which the financing statement is filed governs perfection of a security interest in collateral covered by the financing statement.
(f)A financing statement that includes a financing statement filed before this act takes effect and a continuation statement filed after this act takes effect is effective only to the extent that it satisfies the requirements of Part 5 for an initial financing statement.