Montana § 30-9A-507 Effect Of Certain Events On Effectiveness Of Financing Statement

Montana Statutes

§ 30-9A-507 — Effect Of Certain Events On Effectiveness Of Financing Statement

Montana·Title 30 TRADE AND COMMERCE·Ch. 9A UNIFORM COMMERCIAL CODE SECURED TRANSACTIONS·Part 5 Filing

30-9A-507 . Effect of certain events on effectiveness of financing statement.

(1)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.

(2)Except as otherwise provided in 30-9A-508 and subsection (3) of this section, 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 the standard set forth in 30-9A-506 .

(3)If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under 30-9A-503 (1) so tha

Free access — add to your briefcase to read the full text and ask questions with AI

30-9A-507 . Effect of certain events on effectiveness of financing statement. (1) 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.
(2) Except as otherwise provided in 30-9A-508 and subsection (3) of this section, 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 the standard set forth in 30-9A-506 .
(3) If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under 30-9A-503 (1) so that the financing statement becomes seriously misleading under the standard set forth in 30-9A-506 :
(a) the financing statement is effective to perfect a security interest in collateral acquired by the debtor before or within 4 months after the filed financing statement becomes seriously misleading; and
(b) the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than 4 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 4 months after the financing statement became seriously misleading.

Montana § 30-9A-507 (Effect Of Certain Events On Effectiveness Of Financing Statement) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.