§ 9-707. 9-707

347 words·~2 min read·/us/ucc/a9/s9-707

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

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

(b)[Applicable law.] After this [Act] 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)[Method of amending: general rule.] 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 [Act] takes effect only if:

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

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

(3)an initial financing statement that provides the information as amended and satisfies Section 9-706(c) is filed in the office specified in Section 9-501 .

(d)[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 Section 9-705(d) and

(f)or 9-706 .

(e)[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 after this [Act] takes effect 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 Section 9-706(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Part 3 as the office in which to file a financing statement.