§ 30-9A-806 — When Initial Financing Statement Suffices To Continue Effectiveness Of Financing Statement

30-9A-806 . When initial financing statement suffices to continue effectiveness of financing statement. (1) The filing of an initial financing statement in the office specified in 30-9A-501 continues the effectiveness of a financing statement filed before July 1, 2013, if:
(a) the filing of an initial financing statement in that office would be effective to perfect a security interest under this chapter.
(b) the pre-effective-date financing statement was filed in an office in another state; and
(c) the initial financing statement satisfies subsection (3).
(2) The filing of an initial financing statement under subsection (1) continues the effectiveness of the pre-effective-date financing statement:
(a) if the initial financing statement is filed before July 1, 2013, for the period provided in former 30-9A-515 with respect to an initial financing statement; and
(b) if the initial financing statement is filed after July 1, 2013, for the period provided in 30-9A-515 with respect to an initial financing statement.
(3) To be effective for purposes of subsection (1), an initial financing statement must:
(a) satisfy the requirements of Title 30, chapter 9A, part 5, for an initial financing statement;
(b) identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and
(c) indicate that the pre-effective-date financing statement remains effective.

Legislative History

En. Sec. 22, Ch. 75, L. 2013.