§ 4-9-506 — Effect of errors or omissions

(a) A financing statement
substantially satisfying the requirements of this part 5 is effective, even if it has
minor errors or omissions, unless the errors or omissions make the financing
statement seriously misleading.

(b) Except as otherwise provided in subsection (c) of this section, a financing
statement that fails sufficiently to provide the name of the debtor in accordance
with section 4-9-503 (a) is seriously misleading.

(c) If a search of the records of the filing office under the debtor's correct
name, using the filing office's standard search logic, if any, would disclose a
financing statement that fails sufficiently to provide the name of the debtor in
accordance with section 4-9-503 (a), the name provided does not make the
financing statement seriously misleading.

(d) For purposes of section 4-9-508 (b), the debtor's correct name in
subsection (c) of this section means the correct name of the new debtor.

Legislative History

Source: L. 2001: Entire article R&RE, p. 1381, � 1, effective July 1.