Montana Code 30-9A-807. Amendment of pre-effective-date financing statement
30-9A-807. Amendment of pre-effective-date financing statement. (1) In this section, “pre-effective-date financing statement” means a financing statement filed before July 1, 2013.
Terms Used In Montana Code 30-9A-807
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Collateral: means the property subject to a security interest or agricultural lien. See Montana Code 30-9A-102
- Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Montana Code 30-9A-102
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Montana Code 30-9A-102
- Termination statement: means an amendment of a financing statement that:
(i)identifies, by its file number, the initial financing statement to which it relates; and
(ii)indicates either that it is a termination statement or that the identified financing statement is no longer effective. See Montana Code 30-9A-102
(2)After July 1, 2013, 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 Title 30, chapter 9A. 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.
(3)Except as otherwise provided in subsection (4), 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, 2013, only if:
(a)the pre-effective-date financing statement and an amendment are filed in the office specified in section 30-9A-501;
(b)an amendment is filed in the office specified in section 30-9A-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies 30-9A-806(3); or
(c)an initial financing statement that provides the information as amended and satisfies 30-9A-806(3) is filed in the office specified in 30-9A-501.
(4)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 30-9A-805(3) and (5) or 30-9A-806.
(5)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, 2013, 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 30-9A-806(3) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Title 30, chapter 9A, as the office in which to file a financing statement.