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The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

009

:
Secured Transactions











 

§

9-512. Amendment of financing statement

(a) Subject to

section 9-509 of this title, a person may add or delete collateral covered by,

continue or terminate the effectiveness of, or, subject to subsection (e) of

this section, otherwise amend the information provided in, a financing

statement by filing an amendment that:

(1) identifies,

by its file number, the initial financing statement to which the amendment

relates; and

(2) if the

amendment relates to an initial financing statement recorded in a filing office

described in subdivision 9-501(a)(1) of this title, provides the date that the

initial financing statement was recorded and the information specified in

subsection 9-502(b) of this title.

(b) Except as

otherwise provided in section 9-515 of this title, the filing of an amendment

does not extend the period of effectiveness of the financing statement.

(c) A financing

statement that is amended by an amendment that adds collateral is effective as

to the added collateral only from the date of the filing of the amendment.

(d) A financing

statement that is amended by an amendment that adds a debtor is effective as to

the added debtor only from the date of the filing of the amendment.

(e) An amendment

is ineffective to the extent it:

(1) purports to

delete all debtors and fails to provide the name of a debtor to be covered by

the financing statement; or

(2) purports to

delete all secured parties of record and fails to provide the name of a new

secured party of record. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1,

2001.)