RS 10:9-506 Effect of errors or omissions - Louisiana Statutes

§9-506.  Effect of errors or omissions

(a)  Minor errors and omissions.  A financing statement substantially satisfying the requirements of this Part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.

(b)  Financing statement seriously misleading.  Except as otherwise provided in subsection (c), a financing statement that fails sufficiently to provide the name of the debtor in accordance with R.S. 10:9-503(a) is seriously misleading.

NOTE:  Subsection (c) eff. until July 1, 2008.  See Acts 2007, No. 319, §1.

(c)  Financing statement not seriously misleading.  If a search of the records of the office of the secretary of state or the Department of Public Safety and Corrections, office of motor vehicles, as applicable, under the debtor's correct name, using that office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with R.S. 10:9-503(a), the name provided does not make the financing statement seriously misleading.

NOTE:  Subsection (c) as amended by Acts 2007, No. 319, §1, eff. July 1, 2008.

(c)  Financing statement not seriously misleading. If a search of the records of the office of the secretary of state or the Department of Public Safety and Corrections, office of motor vehicles, or of the records of the Department of Wildlife and Fisheries, as applicable, under the debtor's correct name, using that office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with R.S. 10:9-503(a), the name provided does not make the financing statement seriously misleading.

(d)  "Debtor's correct name."  For purposes of R.S. 10:9-508(b), the "debtor's correct name" in subsection (c) means the correct name of the new debtor.

Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2007, No. 319, §1, eff. July 1, 2008.