ARTICLE 9
SECURED TRANSACTIONS
PART 1
FILING OFFICE; CONTENTS AND EFFECTIVENESS OF FINANCING STATEMENT
11-9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement.
-
Financing statement naming original debtor. Except as otherwise provided in this Code 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.
-
Financing statement becoming seriously misleading. 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 (a) of this Code section to be seriously misleading under Code Section 11-9-506:
-
The financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within four months after, the new debtor becomes bound under subsection (d) of Code Section 11-9-203; and
-
The financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than four months after the new debtor becomes bound under subsection (d) of Code Section 11-9-203 unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.
-
When Code section not applicable. This Code section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under subsection (a) of Code Section 11-9-507.
(Code 1981, §11-9-508, enacted by Ga. L. 2001, p. 362, § 1.)
RESEARCH REFERENCES
U.L.A.
- Uniform Commercial Code (U.L.A.)
§
9-508.