2007 Minnesota Statutes

336.9-507 MS 1998 [Repealed, 2000 c 399 art 1 s 140]
336.9-507 EFFECT OF CERTAIN EVENTS ON EFFECTIVENESS OF FINANCING
STATEMENT.
(a) Disposition. A filed financing statement remains effective with respect to collateral that
is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or
agricultural lien continues, even if the secured party knows of or consents to the disposition.
(b) Information becoming seriously misleading. Except as otherwise provided in
subsection (c) and section 336.9-508, a financing statement is not rendered ineffective if, after
the financing statement is filed, the information provided in the financing statement becomes
seriously misleading under section 336.9-506.
(c) Change in debtor's name. If a debtor so changes its name that a filed financing statement
becomes seriously misleading under section 336.9-506:
(1) the financing statement is effective to perfect a security interest in collateral acquired by
the debtor before, or within four months after, the change; and
(2) the financing statement is not effective to perfect a security interest in collateral acquired
by the debtor more than four months after the change, unless an amendment to the financing
statement which renders the financing statement not seriously misleading is filed within four
months after the change.
History: 2000 c 399 art 1 s 78