§ 36-9-507. Effect of certain events on effectiveness of financing statement.
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§ 36-9-507. Effect of certain events on effectiveness of financing statement.
(a)A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition.
(b)Except as otherwise provided in subsection
(c)and Section 36-9-508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under