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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.)