§ 9—707. Amendment of preeffective-date financing statement
(a) In this section and in section 9—706 of this title, “preeffective-date financing statement” means a financing statement filed before
July 1, 2001.
(b) After July 1, 2001, a person may add or delete collateral covered by, continue or
terminate the effectiveness of, or otherwise amend the information provided in, a
preeffective-date financing statement only in accordance with the law of the jurisdiction
governing perfection as provided in Part 3 of this article on and after July 1, 2001.
However, the effectiveness of a preeffective-date financing statement also may be
terminated in accordance with the law of the jurisdiction in which the financing statement
is filed.
(c) Except as otherwise provided in subsection (d) of this section, if the law of this
State governs perfection of a security interest, the information in a preeffective-date
financing statement may be amended after July 1, 2001 only if:
(1) the preeffective-date financing statement and an amendment are filed in the office
specified in section 9—501 of this title as in effect on and after July 1, 2001;
(2) an amendment is filed in the office specified in section 9—501 of this title as in effect on and after July 1, 2001 concurrently with, or after the filing in
that office of, an initial financing statement that satisfies subsection 9—706(b) of this title; or
(3) an initial financing statement that provides the information as amended, and satisfies
subsection 9—706(b) of this title, is filed in the office specified in section 9—501 of this title as in effect on and after July 1, 2001.
(d) If the law of this state governs perfection of a security interest, the effectiveness
of a preeffective-date financing statement may be continued only under subsections
9—705(d) and (f) or 9—706 of this title.
(e) Whether or not the law of this section governs perfection of a security interest,
the effectiveness of a preeffective-date financing statement filed in this State may
be terminated after July 1, 2001 by filing a termination statement in the office in
which the preeffective-date financing statement is filed, unless an initial financing
statement that satisfies subsection 9—706(b) of this title has been filed in the office specified by the law of the jurisdiction governing perfection
as provided in Part 3 of this article as in effect on and after July 1, 2001, as the
office in which to file a financing statement. (Added 2001, No. 46, § 12.)