Indiana Code 26-1-9.1-507. Effect of certain events on effectiveness of financing statement
(b) Except as otherwise provided in subsection (c) and IC 26-1-9.1-508, 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 IC 26-1-9.1-506.
Terms Used In Indiana Code 26-1-9.1-507
- 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.
- Lien: A claim against real or personal property in satisfaction of a debt.
(1) the financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four (4) months after, the filed financing statement becomes seriously misleading; and
(2) the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four (4) months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four months (4) after the financing statement became seriously misleading.
As added by P.L.57-2000, SEC.45. Amended by P.L.54-2011, SEC.14.