Commercial Code - COM - COM § 9508

Summary

(a) 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

Text

(a)
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)
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 subdivision (a) to be seriously misleading under Section 9506, the following rules apply:
(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 subdivision (d) of Section 9203.
(2)
The financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than four months after the new debtor becomes bound under subdivision (d) of Section 9203 unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.
(c)
This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under subdivision (a) of Section
9507.

Retrieval chunks

• #1 | Commercial Code - COM - COM § 9508

  (a) 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…