Missouri Code of State Regulations
Title 15 - ELECTED OFFICIALS
Division 30 - Secretary of State
Chapter 90 - Uniform Commercial Code
Section 15 CSR 30-90.130 - Status of Parties upon Filing an Amendment
Universal Citation: 15 MO Code of State Regs 30-90.130
Current through Register Vol. 49, No. 18, September 16, 2024
PURPOSE: This rule provides for the status of parties upon filing an amendment.
(1) After an amendment is filed the status of the parties and the status of the financing statement shall be as follows:
(A)
An amendment that amends only the collateral description or one (1) or more
addresses shall not affect the status of any debtor or secured party. If an
amendment is authorized by less than all of the secured parties, or in the case
of an amendment that adds collateral, less than all of the debtors, the
amendment affects only the interests of each authorizing secured party or
debtor;
(B) An amendment that
changes a debtor's name shall not affect the status of any debtor or secured
party, except that the related initial financing statement and all Uniform
Commercial Code (UCC) records that identify the initial financing statement
shall be cross-indexed in the UCC information management system so that a
search under either the debtor's old name or the debtor's new name shall reveal
the initial financing statement and related UCC records. Such an amendment
affects only the rights of its authorizing secured party;
(C) An amendment that changes the name of a
secured party shall not affect the status of any debtor or any secured party,
but the new name is added to the index as if it were a new secured party of
record;
(D) An amendment that adds
a new debtor name shall not affect the status of any party to the financing
statement, except the new debtor name shall be added as a new debtor on the
financing statement. The addition shall affect only the rights of the secured
party authorizing the statement of amendment;
(E) An amendment that adds a new secured
party shall not affect the status of any party to the financing statement,
except that the new secured party name shall be added as a new secured party on
the financing statement;
(F) An
amendment that deletes a debtor shall not affect the status of any party to the
financing statement, even if the amendment purports to delete all
debtors;
(G) An amendment that
deletes a secured party of record shall not affect the status of any party to
the financing statement, even if the amendment purports to delete all secured
parties of record; and
(H) An
amendment shall not affect the status of the financing statement, except that a
continuation may extend the period of effectiveness of a financing
statement.
*Original authority: 400.9-526, RSMo 2001.
Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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