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8280.0230 CONTINUATION.

Subpart 1.

Term.

On the timely filing of an amendment to continue a financing statement by any secured party of record, the active status of the financing statement must be extended for five years.

Subp. 2.

Status of parties.

The filing of an amendment to continue a financing statement has no effect upon the status of any party to the financing statement.

Subp. 3.

Status of financing statement.

On the filing of an amendment to continue a financing statement, the status of the financing statement remains active.

Statutory Authority:

L 2000 c 399 art 1 s 139

History:

26 SR 5

Published Electronically:

November 14, 2003

Official Publication of the State of Minnesota
Revisor of Statutes