§490:9-508  Effectiveness of financing

statement if new debtor becomes bound by security agreement.  (a)  Except

as otherwise provided in this section, a filed financing statement naming an

original debtor is effective to perfect a security interest in collateral in

which a new debtor has or acquires rights to the extent that the financing

statement would have been effective had the original debtor acquired rights in

the collateral.

     (b)  If the difference between the name of the

original debtor and that of the new debtor causes a filed financing statement

that is effective under subsection (a) to be seriously misleading under section

490:9-506:

     (1)  The financing statement is effective to perfect a

security interest in collateral acquired by the new debtor before, and within

four months after, the new debtor becomes bound under section 490:9-203(d); and

     (2)  The financing statement is not effective to

perfect a security interest in collateral acquired by the new debtor more than

four months after the new debtor becomes bound under section 490:9-203(d)

unless an initial financing statement providing the name of the new debtor is

filed before the expiration of that time.

     (c)  This section does not apply to collateral

as to which a filed financing statement remains effective against the new

debtor under section 490:9-507(a). [L 2000, c 241, pt of §1]