| (1) |
Subject to Section 70A-9a-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to Subsection (5), otherwise amend the information provided in, a financing statement by filing an amendment that:
Terms Used In Utah Code 70A-9a-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: means :Utah Code 68-3-12.5
| (a) |
identifies, by its file number, the initial financing statement to which the amendment relates; and |
| (b) |
if the amendment relates to an initial financing statement filed or recorded in a filing office described in Subsection 70A-9a-501(1)(a), provides:
| (i) |
| (A) |
the entry number of the initial financing statement; or |
| (B) |
the book and page where the initial financing statement was filed or recorded; and |
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| (2) |
Except as otherwise provided in Section 70A-9a-515, the filing of an amendment does not extend the period of effectiveness of the financing statement. |
| (3) |
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. |
| (4) |
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. |
| (5) |
An amendment is ineffective to the extent it:
| (a) |
purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or |
| (b) |
purports to delete all secured parties of record and fails to provide the name of a new secured party of record. |
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Enacted by Chapter 252, 2000 General Session
