(a) Pre-effective date financing statement. In this section, "pre-effective date financing statement" means a financing statement filed before Laws 2011, chapter 31, takes effect.
(b) Applicable law. After Laws 2011, chapter 31, 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 as amended by Laws 2011, chapter 31. 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) Method of amending: general rule. Except as otherwise provided in subsection (d), 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 Laws 2011, chapter 31, takes effect only if:
(1) the pre-effective date financing statement and an amendment are filed in the office specified in section 336.9-501;
(2) an amendment is filed in the office specified in section 336.9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies section 336.9-806 (c); or
(3) an initial financing statement that provides the information as amended and satisfies section 336.9-806 (c) is filed in the office specified in section 336.9-501.
(d) Method of amending: continuation. 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 section 336.9-805 (c) and (e), or 336.9-806.
(e) Method of amending: additional termination rule. 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 Laws 2011, chapter 31, 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 section 336.9-806 (c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in article 9 as amended by Laws 2011, chapter 31, as the office in which to file a financing statement.
History: 2011 c 31 art 1 s 16,22
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