Section 11--106. Required Refilings  


Latest version.
  • (1)  If  a security interest is perfected or has priority when the act
      enacting this Article takes effect as to all persons or  as  to  certain
      persons  without  any  filing  or  recording,  and  if  the  filing of a
      financing statement would be required for the perfection or priority  of
      the security interest against those persons under Revised Article 9, the
      perfection  and  priority rights of the security interest continue until
      three  years  after  the  effective  date  of  Revised  Article  9.  The
      perfection  will  then  lapse  unless  a financing statement is filed as
      provided in subsection (2) or unless the security interest is  perfected
      otherwise than by filing.
        (2)  A  financing  statement may be filed within six months before the
      perfection of a  security  interest  would  otherwise  lapse.  Any  such
      financing  statement  may  be signed by either the debtor or the secured
      party. It must identify the  security  agreement,  statement  or  notice
      however  denominated in any statute or other law repealed or modified by
      the act enacting this Article, state the office where and the date  when
      the  last  filing,  refiling or recording, if any, was made with respect
      thereto, and the filing number, if any, or book and  page,  if  any,  of
      recording  and  further  state that the security agreement, statement or
      notice, however denominated, in another filing office under the  uniform
      commercial  code  or under any statute or other law repealed or modified
      by the act enacting this Article is still effective. Section  9-401  and
      Section  9-103  determine  the  proper  place  to  file such a financing
      statement. Except as specified in this  subsection,  the  provisions  of
      subsection  (3)  of  Section  9-403 for continuation statements apply to
      such a financing statement.