Arizona Laws 47-9512. Amendment of financing statement
A. Subject to section 47-9509, a person may add or delete collateral covered by, continue or terminate the effectiveness of or, subject to subsection E of this section, otherwise amend the information provided in a financing statement by filing an amendment that:
Terms Used In Arizona Laws 47-9512
- 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.
- Collateral: means the property subject to a security interest or agricultural lien. See Arizona Laws 47-9102
- Debtor: means :
(a) A person having an interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor;
(b) A seller of accounts, chattel paper, payment intangibles or promissory notes; or
(c) A consignee. See Arizona Laws 47-9102
- File number: means the number assigned to an initial financing statement pursuant to section 47-9519, subsection A. See Arizona Laws 47-9102
- Filing office: means an office designated in section 47-9501 as the place to file a financing statement. See Arizona Laws 47-9102
- Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Arizona Laws 47-9102
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Secured party: means :
(a) A person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding;
(b) A person that holds an agricultural lien;
(c) A consignor;
(d) A person to which accounts, chattel paper, payment intangibles or promissory notes have been sold;
(e) A trustee, indenture trustee, agent, collateral agent or other representative in whose favor a security interest or agricultural lien is created or provided for; or
(f) A person that holds a security interest arising under section 47-2401, 47-2505, 47-2711, 47-2A508, 47-4210 or 47-5118. See Arizona Laws 47-9102
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See Arizona Laws 47-9102
1. Identifies, by its file number, the initial financing statement to which the amendment relates; and
2. If the amendment relates to an initial financing statement filed or recorded in a filing office described in section 47-9501, subsection A, paragraph 1, provides the name of the debtor provided in the initial financing statement and the information specified in section 47-9502, subsection B.
B. Except as otherwise provided in section 47-9515, the filing of an amendment does not extend the period of effectiveness of the financing statement.
C. 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.
D. 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.
E. An amendment is ineffective to the extent it:
1. Purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or
2. Purports to delete all secured parties of record and fails to provide the name of a new secured party of record.
F. A secured party may change the name or mailing address of the secured party in more than one financing statement by filing a master amendment setting forth the name of the secured party and file number of each financing statement and the new name or mailing address of the secured party. The secured party shall also provide filing information in computer-readable form prescribed by the secretary of state.