2006 New York Code - Amendment Of Pre-effective-date Financing Statement

 
  Section 9--707. Amendment of Pre-effective-date Financing Statement.
    (a) "Pre-effective-date   financing   statement".   In  this  section,
  "pre-effective-date financing statement"  means  a  financing  statement
  filed before Revised Article 9 takes effect.
    (b) Applicable law. After Revised Article 9 takes effect, a person may
  add   or  delete  collateral  covered  by,  continue  or  terminate  the
  effectiveness of, or otherwise amend  the  information  provided  in,  a
  pre-effective-date  financing  statement only in accordance with the law
  of the jurisdiction governing perfection as provided in Part 3. However,
  the effectiveness of a pre-effective-date financing statement  also  may
  be  terminated  in  accordance with the law of the jurisdiction in which
  the financing statement is filed.
    (c) Method of amending: general rule. Except as otherwise provided  in
  subsection  (d),  if  the  law  of  this  state  governs perfection of a
  security interest, the information  in  a  pre-effective-date  financing
  statement may be amended after Revised Article 9 takes effect only if:
         (1) the  pre-effective-date  financing statement and an amendment
             are filed in the office specified in Section 9--501;
         (2) an amendment is filed in  the  office  specified  in  Section
             9--501  concurrently with, or after the filing in that office
             of, an initial financing  statement  that  satisfies  Section
             9--706 (c); or
         (3) an  initial financing statement that provides the information
             as amended and satisfies Section 9--706 (c) is filed  in  the
             office specified in Section 9--501.
    (d) Method of amending: continuation. If the law of this state governs
  perfection   of   a   security   interest,   the   effectiveness   of  a
  pre-effective-date financing  statement  may  be  continued  only  under
  Section 9--705 (d) and (f) or 9--706.
    (e) Method  of  amending:  additional termination rule. Whether or not
  the law of this state governs perfection of  a  security  interest,  the
  effectiveness  of a pre-effective-date financing statement filed in this
  state may be terminated after Revised Article 9 takes effect by filing a
  termination statement in the  office  in  which  the  pre-effective-date
  financing statement is filed, unless an initial financing statement that
  satisfies  Section  9--706 (c) has been filed in the office specified by
  the law of the jurisdiction governing perfection as provided in  Part  3
  as the office in which to file a financing statement.