30-9A-512. Amendment of financing statement. - Montana Statutes

     30-9A-512. Amendment of financing statement. (1) Subject to 30-9A-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or subject to subsection (5), otherwise amend the information provided in, a financing statement by filing an amendment that:
     (a) identifies, by its file number, the debtor, the creditor, and the initial financing statement to which the amendment relates; and
     (b) if the amendment relates to an initial financing statement filed or recorded in a filing office described in 30-9A-501(1)(b), provides the date that the initial financing statement was filed or recorded and the information specified in 30-9A-502(2).
     (2) Except as otherwise provided in 30-9A-515, the filing of an amendment does not extend the period of effectiveness of the financing statement.
     (3) 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.
     (4) 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.
     (5) An amendment is ineffective to the extent it:
     (a) purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or
     (b) purports to delete all secured parties of record and fails to provide the name of a new secured party of record.

     History: En. Sec. 82, Ch. 305, L. 1999; Sec. 30-9-532, MCA 1999; redes. 30-9A-512 by Code Commissioner, 2001.