This text of New York § 9-707 (Amendment of Pre-effective-date Financing Statement) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
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 a
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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