§ 26-1-9.1-506 — Effect of errors or omissions

Indiana § 26-1-9.1-506

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 9.1: Secured Transactions

Text

(a) A financing statement substantially
satisfying the requirements of IC 26-1-9.1-501 through IC 26-1-9.1-527
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), a financing
statement that fails sufficiently to provide the name of the debtor in
accordance with IC 26-1-9.1-503(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 to sufficiently provide
the name of the debtor in accordance with IC 26-1-9.1-503(a), the
name provided does not make the financing statement seriously
misleading.
(d) For purposes of IC 26-1-9.1-508(b), the "debtor's correct name"
in subsection (c) means the correct name of the new debtor.

Legislative History

As added by P.L.57-2000, SEC.45. Amended by P.L.165-2001, SEC.13.