Amendment of financing statement

1. Law
2. Mississippi Code
3. Regulation of Trade, Commerce and Investments
4. Uniform Commercial Code-Secured Transactions
5. Filing
6. Filing Office; Contents and Effectiveness of Financing Statement
7. Amendment of financing statement

Subject to Section 75-9-509, 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:

1. Identifies, by its file number, the initial financing statement to which the amendment relates; and
2. If the amendment relates to an initial financing statement filed for record in a filing office described in Section 75-9-501(a)(1), provides the date that the initial financing statement was filed for record and the information specified in Section 75-9-502(b).

Except as otherwise provided in Section 75-9-515, the filing of an amendment does not extend the period of effectiveness of the financing statement.

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.

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.

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.

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