Pennsylvania Code
Title 52 - PUBLIC UTILITIES
Part I - Public Utility Commission
Subpart C - Fixed Service Utilities
Chapter 74 - PERFECTION OF SECURITY INTERESTS IN INTANGIBLE TRANSITION PROPERTY
Section 74.5 - Intangible transition property notice requirements; amendment; forms; error; recharacterization

(a) General rule. An intangible transition property notice will be deemed sufficient if it provides the following:

(b) Filing sequence. An intangible transition property notice may be filed before a security agreement is made or a security interest otherwise attaches or before a transfer of an interest in intangible transition property to an assignee becomes effective.

(c) Effect of partial completion. An intangible transition property notice which otherwise complies with this section will be deemed sufficient when it is signed by the financing party or assignee instead of the grantor or assignor, if it is submitted to perfect a security interest in or record a transfer to an assignee of:

(d) Form. A filing party shall submit Form A, in Appendix A, to comply with subsection (a).

(e) Amendments. Except when only one signature is expressly required by a provision of this chapter, an intangible transition property notice may be amended only with a written document signed by both the grantor or assignor and the financing party or assignee. An amendment does not extend the period of effectiveness of an intangible transition property notice unless it is filed as a continuation notice. If any amendment adds intangible transition property, it is effective as to the added intangible transition property only from the filing date of the amendment.

(f) Amendment form. A filing party shall submit Form B, in Appendix B, to comply with subsection (e).

(g) Sufficiency of name. An intangible transition property notice sufficiently shows the name of the grantor or assignor who is not an individual only if it gives the partnership, corporate, trust or entity name of the grantor or assignor, as the name is shown on the public records in the jurisdiction of organization in the case of persons who are required to register in the public records to organize or as the name is shown on the organizational documents of the person in the case of other persons formed under written agreements that are not required to register in the public records to organize. An intangible transition property notice that sufficiently shows the name of the grantor or assignor is not rendered ineffective by the absence of trade names or other names or names of partners, members or associates. A filed intangible transition property notice remains effective with respect to intangible transition property transferred by the grantor or assignor even though the financing party or the assignee knows of or consents to the transfer. No amendment to an intangible transition property notice is required to reflect a change in the name, identity or corporate structure of a grantor or assignor.

(h) Effect of minor errors; recharacterization. An intangible transition property notice substantially complying with this chapter will be sufficient even if it contains minor errors which are not seriously misleading. If an intangible transition property notice is filed to give notice of a transfer to an assignee of an interest in intangible transition property under this chapter, and the transfer is thereafter held for any reason or purpose to constitute the grant of a security interest in the intangible transition property, the intangible transition property notice will be deemed to constitute a filing with respect to a security interest under this chapter, from and as of the filing date of the original intangible transition property notice, without the necessity of any amendment of (or other action by the parties with respect to) the originally filed intangible transition property notice.