Section 11--105. Transition Provision on Change of Place of Filing  


Latest version.
  • (1) A financing statement or continuation statement filed prior to the
      effective date of Revised Article 9 which shall not have lapsed prior to
      the  effective  date of Revised Article 9 shall remain effective for the
      period provided in Original Article 9, but  not  less  than  five  years
      after the filing.
        (2)  With  respect to any collateral acquired by the debtor subsequent
      to the effective date of Revised  Article  9,  any  effective  financing
      statement  or  continuation  statement  described  in this section shall
      apply only if the filing or filings are in the office  or  offices  that
      would  be  appropriate  to  perfect  the  security  interests in the new
      collateral under Revised Article 9.
        (3) The effectiveness  of  any  financing  statement  or  continuation
      statement  filed prior to the effective date of Revised Article 9 may be
      continued by a continuation statement as permitted by Revised Article 9,
      except that if Revised Article 9 requires a filing in  an  office  where
      there  was  no  previous  financing statement, a new financing statement
      conforming to Section 11-106 shall be filed in that office.
        (4) If the record of  a  mortgage  of  real  estate  would  have  been
      effective  as  a  fixture  filing  of goods described therein if Revised
      Article 9 had been in effect on the date of recording the mortgage,  the
      mortgage  shall be deemed effective as a fixture filing as to such goods
      under subsection (6) of Section  9-402  of  Revised  Article  9  on  the
      effective date of Revised Article 9.