(1)    Filed record effective if authorized. A filed record is effective only to the extent that it was filed by a person that may file it under s. 409.509.

   (2)   Authorization by one secured party of record. A record authorized by one secured party of record does not affect the financing statement with respect to another secured party of record.

   (3)   Continuation statement not timely filed. A continuation statement that is not filed within the 6-month period prescribed by s. 409.515 (4) is ineffective.