Section 9–708. Persons Entitled to File Initial Financing Statement or

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Continuation Statement.

A person may file an initial financing statement or a continuation statement under this part if:

(a) the secured party of record authorizes the filing; and

(b) the filing is necessary under this part:

(1) to continue the effectiveness of a financing statement filed

before Revised Article 9 takes effect; or

(2) to perfect or continue the perfection of a security interest.