Sec. 806. (a) In this section, “pre-effective-date financing statement” means a financing statement filed before the amendments to this chapter made by P.L.54-2011 take effect (July 1, 2013).

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Terms Used In Indiana Code 26-1-9.1-806

  • 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.
  • 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.
     (b) After the amendments to this chapter made by P.L.54-2011 take effect (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 this chapter, as amended by P.L.54-2011. 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) 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 the amendments to this chapter made by P.L.54-2011 take effect (July 1, 2013) only if:

(1) the pre-effective-date financing statement and an amendment are filed in the office specified in IC 26-1-9.1-501;

(2) an amendment is filed in the office specified in IC 26-1-9.1-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies IC 26-1-9.1-805(c); or

(3) an initial financing statement that provides the information as amended and satisfies IC 26-1-9.1-805(c) is filed in the office specified in IC 26-1-9.1-501.

     (d) 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 IC 26-1-9.1-804(c) and IC 26-1-9.1-804(e) or IC 26-1-9.1-805.

     (e) 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 the amendments to this chapter made by P.L.54-2011 take effect (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 IC 26-1-9.1-805(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in this chapter, as amended by P.L.54-2011, as the office in which to file a financing statement.

As added by P.L.54-2011, SEC.25. Amended by P.L.6-2012, SEC.183.

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