Utah Code 70A-9a-707. Amendment of pre-effective-date financing statement
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(1) In this section, “pre-effective-date financing statement” means a financing statement filed before this act takes effect.
Terms Used In Utah Code 70A-9a-707
- 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: 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
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2) After this act 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 inPart 3, Perfection and Priority . 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.(3) Except as otherwise provided in Subsection(4) , 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 this act takes effect only if:(3)(a) the pre-effective-date financing statement and an amendment are filed in the office specified in Section70A-9a-501 ;(3)(b) an amendment is filed in the office specified in Section70A-9a-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies Subsection70A-9a-706(3) ; or(3)(c) an initial financing statement that provides the information as amended and satisfies Subsection70A-9a-706(3) is filed in the office specified in Section70A-9a-501 .(4) 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 Subsections70A-9a-705(4) and(6) or Section70A-9a-706 .(5) 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 this act 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 Subsection70A-9a-706(3) has been filed in the office specified by the law of the jurisdiction governing perfection as provided inPart 3, Perfection and Priority , as the office in which to file a financing statement.