Print

The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

009

:
Secured Transactions











 

§

9-707. Amendment of preeffective-date financing statement

(a) In this

section and in Section 9-706 of this article, "preeffective-date financing

statement" means a financing statement filed before July 1, 2001.

(b) After July

1, 2001, a person may add or delete collateral covered by, continue or

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

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

jurisdiction governing perfection as provided in Part 3 of this article on and

after July 1, 2001. However, the effectiveness of a preeffective-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

preeffective-date financing statement may be amended after July 1, 2001 only

if:

(1) the

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

specified in Section 9-501 of this article as in effect on and after July 1,

2001;

(2) an amendment

is filed in the office specified in Section 9-501 of this article as in effect

on and after July 1, 2001 concurrently with, or after the filing in that office

of, an initial financing statement that satisfies Section 9-706(b) of this

article; or

(3) an initial

financing statement that provides the information as amended, and satisfies

Section 9-706(b) of this article, is filed in the office specified in Section

9-501 of this article as in effect on and after July 1, 2001.

(d) If the law

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

preeffective-date financing statement may be continued only under Section

9-705(d) and (f) or 9-706 of this article.

(e) Whether or

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

effectiveness of a preeffective-date financing statement filed in this state

may be terminated after July 1, 2001 by filing a termination statement in the

office in which the preeffective-date financing statement is filed, unless an

initial financing statement that satisfies Section 9-706(b) of this article has

been filed in the office specified by the law of the jurisdiction governing

perfection as provided in Part 3 of this article as in effect on and after July

1, 2001, as the office in which to file a financing statement. (Added 2001, No.

46, § 12.)