TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 9

SECURED TRANSACTIONS

PART 5.

FILING

28-9-512.  Amendment of financing statement. (a) Subject to section 28-9-509, 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 filed or recorded in a filing office described in section 28-9-501(a)(1), provides the information specified in section 28-9-502(b).

(b)  Except as otherwise provided in section 28-9-515, 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.

History:

[28-9-512, added 2001, ch. 208, sec. 2, p. 766.]