(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:

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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 :
         (24)(a) an individual;
         (24)(b) an association;
         (24)(c) an institution;
         (24)(d) a corporation;
         (24)(e) a company;
         (24)(f) a trust;
         (24)(g) a limited liability company;
         (24)(h) a partnership;
         (24)(i) a political subdivision;
         (24)(j) a government office, department, division, bureau, or other body of government; and
         (24)(k) any other organization or entity. See Utah Code 68-3-12.5
     (1)(a) identifies, by its file number, the initial financing statement to which the amendment relates; and
     (1)(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:

          (1)(b)(i)

               (1)(b)(i)(A) the entry number of the initial financing statement; or
               (1)(b)(i)(B) the book and page where the initial financing statement was filed or recorded; and
          (1)(b)(ii) the information specified in Subsection 70A-9a-502(2).
(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:

     (5)(a) purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or
     (5)(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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