Amendment of Financing Statement
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Law
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Georgia Code
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Commercial Code
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Secured Transactions
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Filing
- Amendment of Financing Statement
- Amendment of information in financing statement. Subject to Code Section 11-9-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e) of this Code section, otherwise amend the information provided in a financing statement by filing an amendment that:
- Identifies, by its file number, the initial financing statement to which the amendment relates; and
- If the amendment relates to an initial financing statement filed or recorded in a filing office described in paragraph (1) of subsection (a) of Code Section 11-9-501, provides the information specified in subsection (b) of Code Section 11-9-502.
- Period of effectiveness not affected. Except as otherwise provided in Code Section 11-9-515, the filing of an amendment does not extend the period of effectiveness of the financing statement.
- Effectiveness of amendment adding collateral. 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.
- Effectiveness of amendment adding debtor. 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.
- Certain amendments ineffective. An amendment is ineffective to the extent it:
- Purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or
- Purports to delete all secured parties of record and fails to provide the name of a new secured party of record.
(Code 1981, §11-9-512, enacted by Ga. L. 2001, p. 362, § 1.)
RESEARCH REFERENCES
U.L.A.
- Uniform Commercial Code (U.L.A.) § 9-512.
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