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The Vermont Statutes Online

 

Title 9A : Uniform Commercial Code

Article 009 : SECURED TRANSACTIONS

(Cite as: 9A V.S.A. § 9-512)
  • § 9-512. Amendment of financing statement

    (a) Subject to section 9- 509 of this title, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e) of this section, otherwise amend the information provided in, a financing statement by filing an amendment that:

    (1) identifies, by its file number, the initial financing statement to which the amendment relates; and

    (2) if the amendment relates to an initial financing statement recorded in a filing office described in subdivision 9- 501(a)(1) of this title, provides the date that the initial financing statement was recorded and the information specified in subsection 9- 502(b) of this title.

    (b) Except as otherwise provided in section 9- 515 of this title, the filing of an amendment does not extend the period of effectiveness of the financing statement.

    (c) A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment.

    (d) A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment.

    (e) An amendment is ineffective to the extent it:

    (1) purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or

    (2) purports to delete all secured parties of record and fails to provide the name of a new secured party of record. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)