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2019 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 9 - Secured Transactions
Part 7 - Transition
§ 47-9-707. Amendment of pre-effective-date financing statement.

Universal Citation: TN Code § 47-9-707 (2019)
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  • (a) Pre-effective date financing statement. In this section, “pre-effective-date financing statement” means a financing statement filed before July 1, 2001.

  • (b) Applicable law. After July 1, 2001, 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 July 1, 2001 only if:

    • (1) the pre-effective-date financing statement and an amendment are filed in the office specified in § 47-9-501;

    • (2) an amendment is filed in the office specified in § 47-9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies § 47-9-706(c); or

    • (3) an initial financing statement that provides the information as amended and satisfies § 47-9-706(c) is filed in the office specified in § 47-9-501.

  • (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 § 47-9-705(d) and (f) or § 47-9-706.

  • (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 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 § 47-9-706(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in part 3 of this chapter as the office in which to file a financing statement.

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