Michigan Administrative Code
Department - State
Office of Customer Services
Uniform Commercial Code Filing Office
Part 3 - UCC INFORMATION MANAGEMENT SYSTEM
Section R. 440.309 - Continuation statement
Universal Citation: MI Admin Code R. 440.309
Current through Vol. 24-16, September 15, 2024
Rule 309.
(1)Upon the timely filing of a continuation statement by any secured party of record, the lapse date of the financing statement shall be extended by 5 years.
(2) The filing of a continuation statement shall have no effect upon the status of any party to the financing statement.
(3) Upon the filing of a continuation statement, the status of the financing statement remains active in the UCC information management system until 1 year after it lapses, as prescribed in subrule (1) of this rule.
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