§9-807. Amendment of pre-effective-date financing statement

Link to law: http://legislature.vermont.gov/statutes/section/09A/009/00807
Published: 2015

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The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

009

:
Secured Transactions











 

§

9-807. Amendment of pre-effective-date financing statement

(a) In this

section, "pre-effective-date financing statement" means a financing

statement filed before the Act takes effect.

(b) After the

Act takes effect, a person may add or delete collateral covered by, continue or

terminate the effectiveness of, or otherwise amend the information provided in,

a pre-effective-date financing statement only in accordance with the law of the

jurisdiction governing perfection as provided in article 9 of this title, as

amended by the Act. However, the effectiveness of a pre-effective-date

financing statement also may be terminated in accordance with the law of the

jurisdiction in which the financing statement is filed.

(c) Except as

otherwise provided in subsection (d) of this section, if the law of this State

governs perfection of a security interest, the information in a pre effective

date financing statement may be amended after the Act takes effect only if:

(1) the

pre-effective-date financing statement and an amendment are filed in the office

specified in section 9-501 of this title;

(2) an amendment

is filed in the office specified in section 9-501 of this title concurrently

with, or after the filing in that office of, an initial financing statement that

satisfies subsection 9-806(c) of this title; or

(3) an initial

financing statement that provides the information as amended and satisfies

subsection 9-806(c) of this title is filed in the office specified in section

9-501 of this title.

(d) If the law of

this State governs perfection of a security interest, the effectiveness of a

pre-effective-date financing statement may be continued only under subsections

9-805(c) and (e) or section 9-806 of this title.

(e) Whether or

not the law of this state governs perfection of a security interest, the

effectiveness of a pre-effective-date financing statement filed in this State

may be terminated after the Act takes effect by filing a termination statement

in the office in which the pre-effective-date financing statement is filed,

unless an initial financing statement that satisfies subsection 9-806(c) of

this title has been filed in the office specified by the law of the

jurisdiction governing perfection as provided in article 9 of this title, as

amended by the Act, as the office in which to file a financing statement.

(Added 2013, No. 157 (Adj. Sess.), § 1.)
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