7-9A-507
Section 7-9A-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 7-9A-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 7-9A-506. (c) Change in debtor's name. If the name
that a filed financing statement provides for a debtor becomes insufficient as the name of
the debtor under Section 7-9A-503(a) so that the financing statement becomes seriously
misleading under Section 7-9A-506: (1) the financing statement is effective to perfect
a...
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7-9A-508
Section 7-9A-508 Effectiveness of financing statement if new debtor becomes bound by
security agreement. (a) Financing statement naming original debtor. Except as otherwise provided
in this section, a filed financing statement naming an original debtor is effective
to perfect a security interest in collateral in which a new debtor has or acquires rights
to the extent that the financing statement would have been effective had the original debtor
acquired rights in the collateral. (b) Financing statement becoming seriously misleading.
If the difference between the name of the original debtor and that of the new debtor causes
a filed financing statement that is effective under subsection (a) to be seriously misleading
under Section 7-9A-506: (1) the financing statement is effective to perfect a security
interest in collateral acquired by the new debtor before, and within four months after, the
new debtor becomes bound under Section 7-9A-203(d); and (2) the financing statement
is not...
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7-9A-506
Section 7-9A-506 Effect of errors or omissions. (a) Minor errors and omissions. A financing
statement substantially satisfying the requirements of this part is effective, even if it
has minor errors or omissions, unless the errors or omissions make the financing statement
seriously misleading. (b) Financing statement seriously misleading. Except as otherwise provided
in subsection (c), a financing statement that fails sufficiently to provide the name of the
debtor in accordance with Section 7-9A-503(a) is seriously misleading. (c) Financing
statement not seriously misleading. If a search of the records of the filing office under
the debtor's correct name, using the filing office's standard search logic, if any, would
disclose a financing statement that fails sufficiently to provide the name of the debtor in
accordance with Section 7-9A-503(a), the name provided does not make the financing
statement seriously misleading. (d) "Debtor's correct name." For purposes of Section
7-9A-508(b),...
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7-9A-515
Section 7-9A-515 Duration and effectiveness of financing statement; effect of lapsed
financing statement. (a) Five-year effectiveness. Except as otherwise provided in subsections
(b), (e), (f), (g), and (h), a filed financing statement is effective for a period of five
years after the date of filing. (b) Manufactured-home transaction. Except as otherwise provided
in subsections (e), (f), and (g), an initial financing statement filed in connection with
a manufactured-home transaction is effective for a period of 30 years after the date of filing
if it indicates that it is filed in connection with a manufactured-home transaction. (c) Lapse
and continuation of financing statement. The effectiveness of a filed financing statement
lapses on the expiration of the period of its effectiveness unless before the lapse a continuation
statement is filed pursuant to subsection (d). Upon lapse, a financing statement ceases to
be effective and any security interest or agricultural lien that was...
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7-9A-805
Section 7-9A-805 Effectiveness of action taken before effective date. (a) Pre-effective
date filing effective. The filing of a financing statement before July 1, 2014, is effective
to perfect a security interest to the extent the filing would satisfy the applicable requirements
for perfection under Article 9A as amended by Act 2014-374. (b) When pre-effective date filing
becomes ineffective. Act 2014-374 does not render ineffective a financing statement that,
before July 1, 2014, is filed and satisfies the applicable requirements for perfection under
the law of the jurisdiction governing perfection as provided in Article 9A as it existed before
amendment. However, except as otherwise provided in subsections (c) and (d) and Section
7-9A-806, the financing statement ceases to be effective: (1) if the financing statement is
filed in this state, at the time the financing statement would have ceased to be effective
had Act 2014-374 not taken effect; or (2) if the financing statement is...
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7-9A-316
Section 7-9A-316 Effect of change in governing law. (a) General rule: Effect on perfection
of change in governing law. A security interest perfected pursuant to the law of the jurisdiction
designated in Section 7-9A-301(1) or 7-9A-305(c) remains perfected until the earliest
of: (1) the time perfection would have ceased under the law of that jurisdiction; (2) the
expiration of four months after a change of the debtor's location to another jurisdiction;
or (3) the expiration of one year after a transfer of collateral to a person that thereby
becomes a debtor and is located in another jurisdiction. (b) Security interest perfected or
unperfected under law of new jurisdiction. If a security interest described in subsection
(a) becomes perfected under the law of the other jurisdiction before the earliest time or
event described in that subsection, it remains perfected thereafter. If the security interest
does not become perfected under the law of the other jurisdiction before the earliest...
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7-9A-509
Section 7-9A-509 Persons entitled to file a record. (a) Person entitled to file record.
A person may file an initial financing statement, amendment that adds collateral covered by
a financing statement, or amendment that adds a debtor to a financing statement only if: (1)
the debtor authorizes the filing in an authenticated record or pursuant to subsection (b)
or (c); or (2) the person holds an agricultural lien that has become effective at the time
of filing and the financing statement covers only collateral in which the person holds an
agricultural lien. (b) Security agreement as authorization. By authenticating or becoming
bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an
initial financing statement, and an amendment, covering: (1) the collateral described in the
security agreement; and (2) property that becomes collateral under Section 7-9A-315(a)(2),
whether or not the security agreement expressly covers proceeds. (c) Acquisition of...
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7-11-105
Section 7-11-105 Transition provision on change of place of filing. (1) A financing
statement or continuation statement filed prior to February 1, 1982, which shall not have
lapsed prior to February 1, 1982, shall remain effective for the period provided in the old
U.C.C., but not less than five years after the filing. (2) With respect to any collateral
acquired by the debtor subsequent to February 1, 1982, any effective financing statement or
continuation statement described in this section shall apply only if the filing or
filings are in the office or offices that would be appropriate to perfect the security interests
in the new collateral under the new U.C.C. (3) The effectiveness of any financing statement
or continuation statement filed prior to February 1, 1982, may be continued by a continuation
statement as permitted by the new U.C.C., except that if the new U.C.C. requires a filing
in an office where there was no previous financing statement, a new financing statement...

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7-9-302
Section 7-9-302 When filing is required to perfect security interest; security interests
to which filing provisions of this article do not apply. THIS SECTION WAS REPEALED
IN THE 2001 REGULAR SESSION, BY ACT 2001-481, EFFECTIVE JAN. 1, 2002. (1) A financing statement
must be filed to perfect all security interests except the following: (a) A security interest
in collateral in possession of the secured party under Section 7-9-305; (b) A security
interest temporarily perfected in instruments, certificated securities, or documents without
delivery under Section 7-9-304 or in proceeds for a 20-day period under Section
7-9-306; (c) A security interest created by an assignment of a beneficial interest in a trust
or a decedent's estate; (d) A purchase money security interest in consumer goods; but filing
is required for a motor vehicle required to be registered; and fixture filing is required
for priority over conflicting interests in fixtures to the extent provided in Section
7-9-313; (e) An...
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7-8-603
Section 7-8-603 Savings clause. (a) This act does not affect an action or proceeding
commenced before this act takes effect. (b) If a security interest in a security is perfected
at the date this act takes effect, and the action by which the security interest was perfected
would suffice to perfect a security interest under this act, no further action is required
to continue perfection. If a security interest in a security is perfected at the date this
act takes effect but the action by which the security interest was perfected would not suffice
to perfect a security interest under this act, the security interest remains perfected for
a period of four months after the effective date and continues perfected thereafter if appropriate
action to perfect under this act is taken within that period. If a security interest is perfected
at the date this act takes effect and the security interest can be perfected by filing under
this act, a financing statement signed by the secured party instead...
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