Colorado § 4-9-507 Effect of certain events on effectiveness of financing statement

Colorado Statutes

§ 4-9-507 — Effect of certain events on effectiveness of financing statement

Colorado·Title 04 Uniform·Art. Secured Transactions

(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) of this section and section 4-9-508, 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 section 4-9-506.

(c)If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under section 4-9-503 (a) so that the financing statement becomes seriously misleading under section 4-9-506:

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(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) of this section and section
4-9-508, 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 section 4-9-506.

(c) If the name that a filed financing statement provides for a debtor
becomes insufficient as the name of the debtor under section 4-9-503 (a) so that
the financing statement becomes seriously misleading under section 4-9-506:

(1) The financing statement is effective to perfect a security interest in
collateral acquired by the debtor before, or within four months after, the filed
financing statement becomes seriously misleading; and

(2) The financing statement is not effective to perfect a security interest in
collateral acquired by the debtor more than four months after the filed financing
statement becomes seriously misleading, unless an amendment to the financing
statement that renders the financing statement not seriously misleading is filed
within four months after the filed financing statement becomes seriously
misleading.

Colorado § 4-9-507 (Effect of certain events on effectiveness of financing statement) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2001: Entire article R&RE, p. 1382, � 1, effective July 1. L. 2012: (c) amended, (HB 12-1262), ch. 170, p. 602, � 11, effective July 1, 2013.