§ 25-11-105. Transition provisions on change of place of filing. - North Carolina Statutes

§25‑11‑105.  Transition provisions on change of place of filing.

(1)        A financingstatement or continuation statement filed prior to July 1, 1976, which shallnot have lapsed prior to July 1, 1976, shall remain effective for the periodprovided in the old article 9, but not less than five years after the filing.

(2)        With respect to anycollateral acquired by the debtor subsequent to July 1, 1976, any effectivefinancing statement or continuation statement described in this section shallapply only if the filing or filings are in the office or offices that would beappropriate to perfect the security interests in the new collateral under newarticle 9.

(3)        The effectivenessof any financing statement or continuation statement filed prior to July 1,1976, may be continued by a continuation statement as permitted by new article9, except that if new article 9 requires a filing in an office where there wasno previous financing statement, a new financing statement conforming to G.S.25‑11‑106 shall be filed in that office.

(4)        If the record of amortgage of, or a deed of trust on, real estate would have been effective as afixture filing of goods described therein if new article 9 had been in effecton the date of recording the mortgage or deed of trust, the mortgage or deed oftrust shall be deemed effective as a fixture filing as to such goods undersubsection (6) of G.S. 25‑9‑402 of the new article 9 on July 1,1976.  (1975, c. 862, s. 8.)