§ 9-508. 9-508
215 words·~1 min read·
/us/ucc/a9/s9-508A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)[Financing statement naming original debtor.] Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral.
(b)[Financing statement becoming seriously misleading.] If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under subsection
(a)to be seriously misleading under Section 9-506 :
(1)the financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within four months after, the new debtor becomes bound under Section 9-203(d) ; and
(2)the financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than four months after the new debtor becomes bound under Section 9-203(d) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.
(c)[When section not applicable.] This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under Section 9-507(a) .