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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) The filing of an initial financing statement in the office specified in § 28:9-501 continues the effectiveness of a financing statement filed before July 1, 2001 if:
(1) The filing of an initial financing statement in that office would be effective to perfect a security interest under this article;
(2) The pre-effective-date financing statement was filed in an office in another State or another office in the District; and
(3) The initial financing statement satisfies subsection (b).
(b) The filing of an initial financing statement under subsection (a) continues the effectiveness of the pre-effective-date financing statement:
(1) If the initial financing statement is filed before July 1, 2001, for the period provided in former § 28:9-403 with respect to a financing statement; and
(2) If the initial financing statement is filed after July 1, 2001, for the period provided in § 28:9-515 with respect to an initial financing statement.
(c) To be effective for purposes of subsection (a), an initial financing statement must:
(1) Satisfy the requirements of Part 5 for an initial financing statement;
(2) Identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and
(3) Indicate that the pre-effective-date financing statement remains effective.
Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 28:9-706. When initial financing statement suffices to continue effectiveness of financing statement. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-28-9-706/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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