8.9A-512 - A-512. Amendment of financing statement. - Virginia Statutes

§ 8.9A-512. Amendment of financing statement.

(a) Amendment of information in financing statement. Subject to § 8.9A-509, aperson may add or delete collateral covered by, continue or terminate theeffectiveness of, or, subject to subsection (e), otherwise amend theinformation provided in, a financing statement by filing an amendment that:

(1) identifies, by its file number, the initial financing statement to whichthe amendment relates; and

(2) if the amendment relates to an initial financing statement filed orrecorded in a filing office described in § 8.9A-501 (a) (1), provides theinformation specified in § 8.9A-502 (b).

(b) Period of effectiveness not affected. Except as otherwise provided in §8.9A-515, the filing of an amendment does not extend the period ofeffectiveness of the financing statement.

(c) Effectiveness of amendment adding collateral. A financing statement thatis amended by an amendment that adds collateral is effective as to the addedcollateral only from the date of the filing of the amendment.

(d) Effectiveness of amendment adding debtor. A financing statement that isamended by an amendment that adds a debtor is effective as to the addeddebtor only from the date of the filing of the amendment.

(e) Certain amendments ineffective. An amendment is ineffective to the extentit:

(1) purports to delete all debtors and fails to provide the name of a debtorto be covered by the financing statement; or

(2) purports to delete all secured parties of record and fails to provide thename of a new secured party of record.

(1964, c. 219, § 8.9-402; 1966, c. 649; 1973, c. 509; 1976, c. 536; 1977, c.539; 1978, cc. 284, 285; 1982, c. 652; 1999, c. 96; 2000, c. 1007.)