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United States — Louisiana Act or statute

United States — Louisiana legislation

RS 10:9-507

A filed financing statement stays effective after certain collateral transfers, and a debtor name problem does not always end perfection right away.

collateraldebtor name changesfinancing statements
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United States — Louisiana
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“A filed financing statement stays effective after certain collateral transfers, and a debtor name problem does not always end perfection right away.”

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RS 10:9-507

A filed financing statement stays effective after certain collateral transfers, and a debtor name problem does not always end perfection right away.

Section 10:9-507

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§ 10:9-507RS 10:9-507Amendment

A filed financing statement stays effective after certain collateral transfers, and a debtor name problem does not always end perfection right away.

§9-507. Effect of certain events on effectiveness of financing statement (a) Disposition. A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition. (b) Information becoming seriously misleading. Except as otherwise provided in Subsection (c) and R.S. 10:9-508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under R.S. 10:9-506. (c) Change in debtor's name. If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under R.S. 10:9-503(a) so that the financing statement becomes seriously misleading under R.S. 10:9-506: (1) the financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriously misleading; and (2) the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four months after the financing statement became seriously misleading. 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 2012, No. 450, §1, eff. July 1, 2013.
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