2012 Pennsylvania Consolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 97 - Transition Provisions
Section 9706 - When initial financing statement suffices to continue effectiveness of financing statement

     § 9706.  When initial financing statement suffices to continue
                effectiveness of financing statement.
        (a)  Initial financing statement in lieu of continuation
     statement.--The filing of an initial financing statement in the
     office specified in section 9501 of Revised Division 9 (relating
     to filing office) continues the effectiveness of a financing
     statement filed before Revised Division 9 takes effect if:
            (1)  the filing of an initial financing statement in that
        office would be effective to perfect a security interest
        under Revised Division 9;
            (2)  the pre-effective-date financing statement was filed
        in an office in another state or another office in this
        Commonwealth;
            (3)  the initial financing statement satisfies subsection
        (c); and
            (4)  with respect to a pre-effective-date financing
        statement which, but for section 9705(c)(2) (relating to
        effectiveness of action taken before effective date), would
        cease to be effective after June 30, 2006, the initial
        financing statement is filed:
                (i)  after December 29, 2005; and
                (ii)  before July 1, 2006.
        (b)  Period of continued effectiveness.--The filing of an
     initial financing statement under subsection (a) continues the
     effectiveness of the pre-effective-date financing statement:
            (1)  if the initial financing statement is filed before
        Revised Division 9 takes effect, for the period provided in
        section 9403 of Former Division 9 (relating to what
        constitutes filing; duration of filing; effect of lapsed
        filing; duties of filing officer) with respect to a financing
        statement; and
            (2)  if the initial financing statement is filed after
        Revised Division 9 takes effect, for the period provided in
        section 9515 of Revised Division 9 (relating to duration and
        effectiveness of financing statement; effect of lapsed
        financing statement) with respect to an initial financing
        statement.
        (c)  Requirements for initial financing statement under
     subsection (a).--To be effective for purposes of subsection (a),
     an initial financing statement must:
            (1)  satisfy the requirements of Chapter 95 of Revised
        Division 9 (relating to filing) for an initial financing
        statement;
            (2)  identify the pre-effective-date financing statement
        by indicating the office in which the financing statement was
        filed and providing the dates of filing and file numbers, if
        any, of the financing statement and of the most recent
        continuation statement filed with respect to the financing
        statement; and
            (3)  indicate that the pre-effective-date financing
        statement remains effective.
     (June 30, 2006, P.L.290, No.64, eff. imd.)

        2006 Amendment.  Act 64 amended subsec. (a). Section 2 of Act
     64 provided that nothing in the amendment of subsec. (a) shall
     render ineffective a continuation statement that was filed prior
     to the effective date of section 2.
        Cross References.  Section 9706 is referred to in sections
     9702, 9705, 9707 of this title.