Vermont Statutes Title 9 Sec. 9-807
Terms Used In Vermont Statutes Title 9 Sec. 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: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 9—807. Amendment of pre-effective-date financing statement
(a) In this section, “pre-effective-date financing statement” means a financing statement filed before the Act takes effect.
(b) After the 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 in Article 9 of this title, as amended by the Act. 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) Except as otherwise provided in subsection (d) of this section, 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 the Act takes effect only if:
(1) the pre-effective-date financing statement and an amendment are filed in the office specified in section 9—501 of this title;
(2) an amendment is filed in the office specified in section 9—501 of this title concurrently with, or after the filing in that office of, an initial financing statement that satisfies subsection 9—806(c) of this title; or
(3) an initial financing statement that provides the information as amended and satisfies subsection 9—806(c) of this title is filed in the office specified in section 9—501 of this title.
(d) 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 subsections 9—805(c) and (e) or section 9—806 of this title.
(e) 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 the 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 subsection 9—806(c) of this title has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Article 9 of this title, as amended by the Act, as the office in which to file a financing statement. (Added 2013, No. 157 (Adj. Sess.), § 1.)