679.508

Effectiveness of financing statement if new debtor becomes bound by security agreement.

Find cases: SyfertCases citing this section FL-LEGleg.state.fl.us JustiaFla. Statutes CornellLII Search CasesGoogle Scholar

679.508 Effectiveness of financing statement if new debtor becomes bound by security agreement.—

(1) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral.

(2) If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under subsection (1) to be seriously misleading under the standard set forth in s. 679.5061:

(a) The financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within 4 months after, the new debtor becomes bound under s. 679.2031(4); and

(b) The financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than 4 months after the new debtor becomes bound under s. 679.2031(4) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.

(3) This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under s. 679.5071(1).

History.—s. 6, ch. 2001-198.

Notes of Decisions

Cited in 1 case, 2003–2003 · leading case: In Re Summit Staffing Polk County, Inc.

Sort: Relevance Newest Treatment

In Re Summit Staffing Polk County, Inc. (2003) flmb · cites it 5× “Section 679.508, Florida Statutes, governs the effectiveness of a financing statement if a new debtor becomes bound by a security agreement.”

— 679.508(2) — 1 case

In Re Summit Staffing Polk County, Inc. (2003) flmb “Section 679.508, Florida Statutes, governs the effectiveness of a financing statement if a new debtor becomes bound by a security agreement.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.