Louisiana Revised Statutes 10:9-707 – Amendment of pre-effective date financing statement
Terms Used In Louisiana Revised Statutes 10:9-707
- 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.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
(a) [Reserved.]
(b) Applicable law. On or after July 1, 2001, 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 Part 3. 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) Method of amending: general rule. 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 on or after July 1, 2001 only if:
(1) the pre-effective-date financing statement and an amendment are filed in the office specified in La. Rev. Stat. 10:9-501;
(2) an amendment is filed in the office specified in La. Rev. Stat. 10:9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies La. Rev. Stat. 10:9-706(c); or
(3) an initial financing statement that provides the information as amended and satisfies La. Rev. Stat. 10:9-706(c) is filed in the office specified in La. Rev. Stat. 10:9-501.
(d) Method of amending: continuation. 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 La. Rev. Stat. 10:9-705(d) and (f) or 9-706.
(e) Method of amending: additional termination rule. 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 on or after July 1, 2001 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 La. Rev. Stat. 10:9-706(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Part 3 as the office in which to file a financing statement.
Acts 2001, No. 128, §1, eff. July 1, 2001.