Montana Code 30-9A-512. Amendment of financing statement
30-9A-512. Amendment of financing statement. (1) Subject to 30-9A-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:
Terms Used In Montana Code 30-9A-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.
- Collateral: means the property subject to a security interest or agricultural lien. See Montana Code 30-9A-102
- Debtor: means :
(i)a person having a property interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor;
(ii)a seller of accounts, chattel paper, payment intangibles, or promissory notes; or
(iii)a consignee. See Montana Code 30-9A-102
- File number: means the number assigned to an initial financing statement pursuant to 30-9A-519(1). See Montana Code 30-9A-102
- Filing office: means an office designated in 30-9A-501 as the place to file a financing statement. See Montana Code 30-9A-102
- Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Montana Code 30-9A-102
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Secured party: means :
(i)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;
(ii)a person that holds an agricultural lien;
(iii)a consignor;
(iv)a person to which accounts, chattel paper, payment intangibles, or promissory notes have been sold;
(v)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
(vi)a person that holds a security interest arising under 30-2-401, 30-2-505, 30-2-711(3), 30-2A-508(5), 30-4-208, or 30-5-118. See Montana Code 30-9A-102
(a)identifies, by its file number, the debtor, the creditor, and the initial financing statement to which the amendment relates; and
(b)if the amendment relates to an initial financing statement filed or recorded in a filing office described in 30-9A-501(1)(b), provides the date that the initial financing statement was filed or recorded and the information specified in 30-9A-502(2).
(2)Except as otherwise provided in 30-9A-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:
(a)purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or
(b)purports to delete all secured parties of record and fails to provide the name of a new secured party of record.