§ 36-9-707. Pre-effective-date financing statement.

204 words·~1 min read·/sc/title-36-commercial-code/chapter-9/commercial-code-secured-transactions/36-9-707·

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

(a)In this section, "pre-effective-date financing statement" means a financing statement filed before this chapter takes effect.

(b)After this chapter takes effect, 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. 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.

(c)Except as otherwise provided in subsection (d), if the law of this State governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after this chapter takes effect only if:

(1)the pre-effective-date financing statement and an amendment are filed in the office specified in Section 36-9-501;

(2)an amendment is filed in the office specified in Section 36-9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies Section 36-9-706(c); or

(3)an initial financing statement that provides the information as amended and satisfies Section 36-9-706(c) is filed in the office specified in