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355.9-707 Amendment of pre-effective-date financing statement.
(1)
(2)
(3)
(4)
(5)
In this section, "pre-effective-date financing statement" means a financing statement
filed before July 1, 2001.
On or after July 1, 2001, a person may add or delete collateral covered by, continue
or terminate the effectiveness of, or otherwise amend 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 of this Article. 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.
Except as otherwise provided in subsection (4) of this section, if the law of this
Commonwealth governs perfection of a security interest, the information in a preeffective-date financing statement may be amended on or after July 1, 2001, only if:
(a) The pre-effective-date financing statement and an amendment are filed in the
office specified in KRS 355.9-501;
(b) An amendment is filed in the office specified in KRS 355.9-501 concurrently
with, or after the filing in that office of, an initial financing statement that
satisfies KRS 355.9-706(3); or
(c) An initial financing statement that provides the information as amended and
satisfies KRS 355.9-706(3) is filed in the office specified in KRS 355.9-501.
If the law of this Commonwealth governs perfection of a security interest, the
effectiveness of a pre-effective-date financing statement may be continued only
under KRS 355.9-705(4) and (6) or 355.9-706.
Whether or not the law of this Commonwealth governs perfection of a security
interest, the effectiveness of a pre-effective-date financing statement filed in this
Commonwealth may be terminated on or after July 1, 2001, 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 KRS 355.9-706(3) has been filed
in the office specified by the law of the jurisdiction governing perfection as
provided in Part 3 of this article as the office in which to file a financing statement.
Effective: July 1, 2001
History: Created 2000 Ky. Acts ch. 408, sec. 153, effective July 1, 2001.
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