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Texas Business and Commerce Code - BUS & COM § 9.512. Amendment of Financing Statement

Current as of April 14, 2021 | Updated by FindLaw Staff

(a) Subject to Section 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 or recorded in a filing office described in Section 9.501(a)(1), provides the information specified in Section 9.502(b).

(b) Except as otherwise provided in Section 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.

(f) A secured party may change the name or mailing address of the secured party in more than one financing statement by filing a master amendment setting forth the name of the secured party and file number of each financing statement and the new name or mailing address of the secured party.  The secured party must also provide filing information in computer-readable form prescribed by the Secretary of State.

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Cite this article: FindLaw.com - Texas Business and Commerce Code - BUS & COM § 9.512. Amendment of Financing Statement - last updated April 14, 2021 | https://codes.findlaw.com/tx/business-and-commerce-code/bus-com-sect-9-512/

Read this complete Texas Business and Commerce Code - BUS & COM § 9.512. Amendment of Financing Statement on Westlaw

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 or via Westlaw before relying on it for your legal needs.

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