Terms Used In Louisiana Revised Statutes 10:9-512

  • 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.
  • person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10

(a)  Amendment of information in financing statement.  Subject to La. Rev. Stat. 10:9-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to Subsection (e), otherwise amend the information provided in, a financing statement by filing an amendment in the filing office where the financing statement was originally filed, that:

(1)  identifies, by its file number, the initial financing statement to which the amendment relates; and

(2)  if the amendment relates to an initial financing statement filed in a filing office described in La. Rev. Stat. 10:9-501(a)(1), provides the information specified in La. Rev. Stat. 10:9-504.

(b)  Period of effectiveness not affected.  Except as otherwise provided in La. Rev. Stat. 10:9-515, the filing of an amendment does not extend the period of effectiveness of the financing statement.

(c)  Effectiveness of amendment adding collateral.  A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment.

(d)  Effectiveness of amendment adding debtor.  A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment.

(e)  Certain amendments ineffective.  An amendment is ineffective to the extent it:

(1)  purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or

(2)  purports to delete all secured parties of record and fails to provide the name of a new secured party of record.

Acts 2001, No. 128, §1, eff. July 1, 2001.