§ 9-707 — Amendment of Pre-effective-date Financing Statement

Section 9--707. Amendment of Pre-effective-date Financing Statement.\n (a) "Pre-effective-date financing statement". In this section,\n"pre-effective-date financing statement" means a financing statement\nfiled before Revised Article 9 takes effect.\n (b) Applicable law. After Revised Article 9 takes effect, a person may\nadd or delete collateral covered by, continue or terminate the\neffectiveness of, or otherwise amend the information provided in, a\npre-effective-date financing statement only in accordance with the law\nof the jurisdiction governing perfection as provided in Part 3. However,\nthe effectiveness of a pre-effective-date financing statement also may\nbe terminated in accordance with the law of the jurisdiction in which\nthe financing statement is filed.\n (c) Method of amending: general rule. Except as otherwise provided in\nsubsection (d), if the law of this state governs perfection of a\nsecurity interest, the information in a pre-effective-date financing\nstatement may be amended after Revised Article 9 takes effect only if:\n (1) the pre-effective-date financing statement and an amendment\n are filed in the office specified in Section 9--501;\n (2) an amendment is filed in the office specified in Section\n 9--501 concurrently with, or after the filing in that office\n of, an initial financing statement that satisfies Section\n 9--706 (c); or\n (3) an initial financing statement that provides the information\n as amended and satisfies Section 9--706 (c) is filed in the\n office specified in Section 9--501.\n (d) Method of amending: continuation. If the law of this state governs\nperfection of a security interest, the effectiveness of a\npre-effective-date financing statement may be continued only under\nSection 9--705 (d) and (f) or 9--706.\n (e) Method of amending: additional termination rule. Whether or not\nthe law of this state governs perfection of a security interest, the\neffectiveness of a pre-effective-date financing statement filed in this\nstate may be terminated after Revised Article 9 takes effect by filing a\ntermination statement in the office in which the pre-effective-date\nfinancing statement is filed, unless an initial financing statement that\nsatisfies Section 9--706 (c) has been filed in the office specified by\nthe law of the jurisdiction governing perfection as provided in Part 3\nas the office in which to file a financing statement.\n