| (1) |
In this section, “pre-effective-date financing statement” means a financing statement filed before this act takes effect. |
Terms Used In Utah Code 70A-9a-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: means :Utah Code 68-3-12.5
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
| (2) |
After this 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 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. |
| (3) |
Except as otherwise provided in Subsection (4), 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 this act takes effect only if:
| (a) |
the pre-effective-date financing statement and an amendment are filed in the office specified in Section 70A-9a-501; |
| (b) |
an amendment is filed in the office specified in Section 70A-9a-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies Subsection 70A-9a-706(3); or |
| (c) |
an initial financing statement that provides the information as amended and satisfies Subsection 70A-9a-706(3) is filed in the office specified in Section 70A-9a-501. |
|
| (4) |
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 Subsections 70A-9a-705(4) and (6) or Section 70A-9a-706. |
| (5) |
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 this 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 Subsection 70A-9a-706(3) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in 3, as the office in which to file a financing statement. |
Enacted by Chapter 252, 2000 General Session
