Terms Used In Louisiana Revised Statutes 10:9-807

  • 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.
  • 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)  “Pre-effective-date financing statement”.  In this Section and in La. Rev. Stat. 10:9-806, “pre-effective-date financing statement” means a financing statement filed before the Act takes effect.

(b)  Applicable law.  After the Act takes effect, 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 Chapter 9 as amended by the Act; 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) of this Section, 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 Act takes effect 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. 10:9-512(a) concurrently with, or after the filing in that office of, an initial financing statement that satisfies La. Rev. Stat. 10:9-806(c); or

(3)  an initial financing statement that provides the information as amended and satisfies La. Rev. Stat. 10:9-806(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. 10:9-805(c) and (e) or 9-806.

(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 after the Act takes effect 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. 10:9-806(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Chapter 9 as amended by the Act as the office in which to file a financing statement.

Acts 2012, No. 450, §2, eff. July 1, 2013.

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