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Title 34.1 Uniform Commercial Code

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Change 1

What to do with it
As published

34.1-9-512. Amendment of financing statement.

(a) Subject to section 34.1-9-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e), otherwise amend the information provided in, a financing statement by filing an amendment that: (i) Identifies, by its file number, the initial financing statement to which the amendment relates; and (ii) If the amendment relates to an initial financing statement filed or recorded in a filing office described in section 34.1-9-501(a)(i), provides the date and time that the initial financing statement was filed or recorded and the information specified in section 34.1-9-502(b). (b) Except as otherwise provided in section 34.1-9-515, the filing of an amendment does not extend the period of effectiveness of the financing statement. (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: (i) Purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or (ii) Purports to delete all secured parties of record and fails to provide the name of a new secured party of record.

Your change, as a redline

34.1-9-512. Amendment of financing statement.

(a) Subject to section 34.1-9-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e), otherwise amend the information provided in, a financing statement by filing an amendment that: (i) Identifies, by its file number, the initial financing statement to which the amendment relates; and (ii) If the amendment relates to an initial financing statement filed or recorded in a filing office described in section 34.1-9-501(a)(i), provides the date and time that the initial financing statement was filed or recorded and the information specified in section 34.1-9-502(b). (b) Except as otherwise provided in section 34.1-9-515, the filing of an amendment does not extend the period of effectiveness of the financing statement. (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: (i) Purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or (ii) Purports to delete all secured parties of record and fails to provide the name of a new secured party of record.

One line that says what changes, such as "Halve the dog tax".

Who it helps, what it costs, what it fixes. It is what persuades people to support it.

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