§ 62A.9A-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) of this section and RCW 62A.9A-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 RCW 62A.9A-506.
(c) Change in debtor's name. If a debtor so changes its name that a filed financing statement becomes seriously misleading under RCW 62A.9A-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 change; 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 change, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four months after the change.
[2000 c 250 § 9A-507.]
Sections: Previous 62A.9A-409 62A.9A-501 62A.9A-502 62A.9A-503 62A.9A-504 62A.9A-505 62A.9A-506 62A.9A-507 62A.9A-508 62A.9A-509 62A.9A-510 62A.9A-511 62A.9A-512 62A.9A-513 62A.9A-514 NextLast modified: April 7, 2009