84-9-707. Pre-effective-date financing statement; applicable law; amendment. (a) Pre-effective-date financing statement. In this section, "pre-effective-date financing statement" means a financing statement filed before this act takes effect.

(b) Applicable law. After this act takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in part 3. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.

(c) Method of amending: General rule. Except as otherwise provided in subsection (d), if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after this act takes effect only if:

(1) The pre-effective-date financing statement and an amendment are filed in the office specified in K.S.A. 2018 Supp. 84-9-501, and amendments thereto;

(2) an amendment is filed in the office specified in K.S.A. 2018 Supp. 84-9-501, and amendments thereto, concurrently with, or after the filing in that office of, an initial financing statement that satisfies K.S.A. 2018 Supp. 84-9-706(c), and amendments thereto; or

(3) an initial financing statement that provides the information as amended and satisfies K.S.A. 2018 Supp. 84-9-706(c), and amendments thereto, is filed in the office specified in K.S.A. 2018 Supp. 84-9-501, and amendments thereto.

(d) Method of amending: Continuation. If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under K.S.A. 2018 Supp. 84-9-705(d) and (f), and amendments thereto.

(e) Method of amending: Additional termination rule. Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after this act takes effect by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies K.S.A. 2018 Supp. 84-9-706(c), and amendments thereto, has been filed in the office specified by the law of the jurisdiction governing perfection as provided in part 3 as the office in which to file a financing statement.

History: L. 2002, ch. 159, § 28; May 23.