(1) Subject to ORS 79.0509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (5) of this section, otherwise amend the information provided in, a financing statement by filing an amendment that:
(a) Identifies, by its file number, 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 ORS 79.0501 (1)(a), provides the information specified in ORS 79.0502 (2).
(2) Except as otherwise provided in ORS 79.0515, 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. [2001 c.445 §83; 2003 c.14 §27]Section: Previous 79.0505 79.0506 79.0507 79.0508 79.0509 79.0510 79.0511 79.0512 79.0513 79.0514 79.0515 79.0516 79.0517 79.0518 79.0519 Next
Last modified: August 7, 2008