Minnesota Statutes 336.9-807 – Amendment of Pre-Effective Date Financing Statement
(a) Pre-effective date financing statement. In this section, “pre-effective date financing statement” means a financing statement filed before Laws 2011, chapter 31, takes effect.
Terms Used In Minnesota Statutes 336.9-807
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
(b) Applicable law. After Laws 2011, chapter 31, takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in article 9 as amended by Laws 2011, chapter 31. However, the effectiveness of a pre-effective date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(c) Method of amending: general rule. Except as otherwise provided in subsection (d), if the law of this state governs perfection of a security interest, the information in a pre-effective date financing statement may be amended after Laws 2011, chapter 31, takes effect only if:
(1) the pre-effective date financing statement and an amendment are filed in the office specified in section 336.9-501;
(2) an amendment is filed in the office specified in section 336.9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies section 336.9-806 (c); or
(3) an initial financing statement that provides the information as amended and satisfies section 336.9-806 (c) is filed in the office specified in section 336.9-501.
(d) Method of amending: continuation. If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective date financing statement may be continued only under section 336.9-805 (c) and (e), or 336.9-806.
(e) Method of amending: additional termination rule. Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective date financing statement filed in this state may be terminated after Laws 2011, chapter 31, takes effect by filing a termination statement in the office in which the pre-effective date financing statement is filed, unless an initial financing statement that satisfies section 336.9-806 (c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in article 9 as amended by Laws 2011, chapter 31, as the office in which to file a financing statement.