The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 9-508)
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§ 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) of this
section to be seriously misleading under section 9—506 of this title:
(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 subsection 9—203(d) of this title; 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 subsection 9—203(d) of this title 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 subsection 9—507(a) of this title. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)