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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 9A : Uniform Commercial Code

Article 009 : Secured Transactions

(Cite as: 9A V.S.A. § 9-506)
  • § 9-506. Effect of errors or omissions

    (a) A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.

    (b) Except as otherwise provided in subsection (c) of this section, a financing statement that fails sufficiently to provide the name of the debtor in accordance with subsection 9- 503(a) of this title is seriously misleading.

    (c) If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with subsection 9- 503(a) of this title, the name provided does not make the financing statement seriously misleading.

    (d) For purposes of subsection 9- 508(b) of this title, the "debtor's correct name" in subsection (c) of this section means the correct name of the new debtor. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)