2006 New York Code - Effect Of Certain Events On Effectiveness Of Financing Statement

 
  Section 9--507. Effect  of  Certain Events on Effectiveness of Financing
                    Statement.
    (a) Disposition. A filed financing statement  remains  effective  with
  respect  to  collateral  that  is  sold, exchanged, leased, licensed, or
  otherwise disposed of and in which a security interest  or  agricultural
  lien  continues,  even  if the secured party knows of or consents to the
  disposition.
    (b) Information becoming seriously  misleading.  Except  as  otherwise
  provided  in subsection (c) and Section 9--508, a financing statement is
  not rendered ineffective if, after the financing statement is filed, the
  information  provided  in  the  financing  statement  becomes  seriously
  misleading under Section 9--506.
    (c) Change  in  debtor's  name. If a debtor so changes its name that a
  filed financing statement becomes  seriously  misleading  under  Section
  9--506:
         (1) the  financing  statement  is effective to perfect a security
             interest in collateral acquired  by  the  debtor  before,  or
             within four months after, the change; and
         (2) the  financing  statement  is  not  effective  to  perfect  a
             security interest in collateral acquired by the  debtor  more
             than four months after the change, unless an amendment to the
             financing statement which renders the financing statement not
             seriously  misleading  is  filed within four months after the
             change.