2010 Pennsylvania Code
Title 13 - COMMERCIAL CODE
Chapter 97 - Transition Provisions
9707 - Amendment of pre-effective-date financing statement.

     § 9707.  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 Division 9 takes
     effect.
        (b)  Applicable law.--After Revised Division 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 Chapter 93 of Revised
     Division 9 (relating to perfection and priority). 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 Commonwealth
     governs perfection of a security interest, the information in a
     pre-effective-date financing statement may be amended after
     Revised Division 9 takes effect only if:
            (1)  the pre-effective-date financing statement and an
        amendment are filed in the office specified in section 9501
        of Revised Division 9 (relating to filing office);
            (2)  an amendment is filed in the office specified in
        section 9501 of Revised Division 9 concurrently with, or
        after the filing in that office of, an initial financing
        statement that satisfies section 9706(c) of Revised Division
        9 (relating to when initial financing statement suffices to
        continue effectiveness of financing statement); or
            (3)  an initial financing statement that provides the
        information as amended and satisfies section 9706(c) of
        Revised Division 9 is filed in the office specified in
        section 9501 of Revised Division 9.
        (d)  Method of amending: continuation.--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 section 9705(d) and (f) of Revised Division
     9 (relating to effectiveness of action taken before effective
     date) or section 9706 of Revised Division 9.
        (e)  Methods of amending: additional termination rule.--
     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 after Revised Division 9 takes effect by filing a
     termination statement in the office in which the pre-effective-
     date financing statement is filed unless one or both of the
     following conditions apply:
            (1)  An initial financing statement that satisfies
        section 9706(c) of Revised Division 9 has been filed in the
        office specified by the law of the jurisdiction governing
        perfection as provided in Chapter 93 of Revised Division 9 as
        the office in which to file a financing statement.
            (2)  The pre-effective-date financing statement is filed
        in the office of a prothonotary of a county of this
        Commonwealth.

        Cross References.  Section 9707 is referred to in section
     9702 of this title.