336.9-506 Effect of errors or omissions.
(a) Minor errors and omissions. A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.
(b) Financing statement seriously misleading. Except as otherwise provided in subsection (c), a financing statement that fails sufficiently to provide the name of the debtor in accordance with section 336.9-503(a) is seriously misleading.
(c) Financing statement not seriously misleading. If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with section 336.9-503(a), the name provided does not make the financing statement seriously misleading.
(d) Debtor's correct name. For purposes of section 336.9-508(b), the "debtor's correct name" in subsection (c) means the correct name of the new debtor.
HIST: 2000 c 399 art 1 s 77
* NOTE: This section, as added by Laws 2000, chapter 399, *article 1, section 77, is effective July 1, 2001. Laws 2000, *chapter 399, article 1, section 130.
* NOTE: Minnesota Statutes 1998, section 336.9-506, which *reads as follows, is repealed July 1, 2001. Laws 2000, chapter *399, article 1, section 130.
* "336.9-506 Debtor's right to redeem collateral.
* At any time before the secured party has disposed of *collateral or entered into a contract for its disposition under *section 336.9-504 or before the obligation has been discharged *under section 336.9-505(2) the debtor or any other secured party *may unless otherwise agreed in writing after default redeem the *collateral by tendering fulfillment of all obligations secured *by the collateral as well as the expenses reasonably incurred by *the secured party in retaking, holding and preparing the *collateral for disposition, in arranging for the sale, and, to *the extent provided in the agreement and not prohibited by law, *reasonable attorneys' fees and legal expenses."
Official Publication of the State of Minnesota
Revisor of Statutes