(a) Subject to section 28-9-509, 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:
(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 28-9-501(a)(1), provides the information specified in section 28-9-502(b).
(b) Except as otherwise provided in section 28-9-515, the filing of an amendment does not extend the period of effectiveness of the financing statement.
lawyer at desk

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Idaho Code 28-9-512

  • 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: includes a corporation as well as a natural person;
Idaho Code 73-114
(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.