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Arkansas Code Title 4. Business and Commercial Law § 4-9-512. Amendment of financing statement

Current as of March 28, 2024 | Updated by FindLaw Staff

(a) Subject to § 4-9-509, 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 in a filing office described in § 4-9-501(a) (1), provides the date and time that the initial financing statement was filed and the information specified in § 4-9-502(b).

(b) Except as otherwise provided in § 4-9-515, 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:

(1) purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or

(2) 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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Cite this article: FindLaw.com - Arkansas Code Title 4. Business and Commercial Law § 4-9-512. Amendment of financing statement - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-4-business-and-commercial-law/ar-code-sect-4-9-512/

Read this complete Arkansas Code Title 4. Business and Commercial Law § 4-9-512. Amendment of financing statement on Westlaw

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