§ 25-9-506. Effect of errors or omissions. - North Carolina Statutes

§25‑9‑506.  Effect of errors or omissions.

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

(b)        Financing statementseriously misleading. – Except as otherwise provided in subsection (c) of thissection, a financing statement that fails sufficiently to provide the name ofthe debtor in accordance with G.S. 25‑9‑503(a) is seriouslymisleading.

(c)        Financing statementnot seriously misleading. – If a search of the records of the filing officeunder the debtor's correct name, using the filing office's standard searchlogic, if any, would disclose a financing statement that fails sufficiently toprovide the name of the debtor in accordance with G.S. 25‑9‑503(a),the name provided does not make the financing statement seriously misleading.

(d)        "Debtor'scorrect name." – For purposes of G.S. 25‑9‑508(b), the"debtor's correct name" in subsection (c) of this section means thecorrect name of the new debtor. (1899, cc. 17, 247; 1901, cc.329, 704; 1903, c. 489; 1905, cc. 226, 319; Rev., s. 2055; 1907, c. 843; 1909,c. 532; P.L. 1913, c. 49; C.S., s. 2490; 1925, c. 285, s. 1; 1931, c. 196;1933, c. 101, s. 6; 1945, c. 182, s. 2; c. 196, s. 2; 1951, c. 926, s. 1; 1955,c. 386, s. 1; 1957, c. 564; 1961, c. 574; 1965, c. 700, s. 1; 1969, c. 1115, s.1; 1975, c. 862, s. 7; 1983 (Reg. Sess., 1984), c. 1116, s. 43; 1989, c. 523,s. 7; 2000‑169, s. 1.)