Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 95 - Filing
Section 9507 - Effect of certain events on effectiveness of financing statement


(a) Disposition.--A filed financing statement remains effective with respect to collateral which is sold, exchanged, leased, licensed or otherwise disposed of and in which a security interest or agricultural lien continues even if the secured party knows of or consents to the disposition.
(b) Information becoming seriously misleading.--Except as otherwise provided in subsection (c) and section 9508 (relating to effectiveness of financing statement if new debtor becomes bound by security agreement), a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under section 9506 (relating to effect of errors or omissions).
(c) Change in debtor's name.--If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under section 9503(a) (relating to name of debtor and secured party) so that the financing statement becomes seriously misleading under section 9506:
(1) the financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriously misleading; and
(2) the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four months after the financing statement became seriously misleading.
(June 27, 2013, P.L.154, No.30, eff. July 1, 2013)

2013 Amendment. Act 30 amended subsec. (c).
Cross References. Section 9507 is referred to in section 9508 of this title.

Structure Pennsylvania Consolidated & Unconsolidated Statutes

Pennsylvania Consolidated & Unconsolidated Statutes

Title 13 - COMMERCIAL CODE

Chapter 95 - Filing

Extra - Chapter Notes

Section 9501 - Filing office

Section 9502 - Contents of financing statement; record of mortgage as financing statement; time of filing financing statement

Section 9503 - Name of debtor and secured party

Section 9504 - Indication of collateral

Section 9505 - Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions

Section 9506 - Effect of errors or omissions

Section 9507 - Effect of certain events on effectiveness of financing statement

Section 9508 - Effectiveness of financing statement if new debtor becomes bound by security agreement

Section 9509 - Persons entitled to file a record

Section 9510 - Effectiveness of filed record

Section 9511 - Secured party of record

Section 9512 - Amendment of financing statement

Section 9513 - Termination statement

Section 9514 - Assignment of powers of secured party of record

Section 9515 - Duration and effectiveness of financing statement; effect of lapsed financing statement

Section 9516 - What constitutes filing; effectiveness of filing

Section 9517 - Effect of indexing errors

Section 9518 - Claim concerning inaccurate or wrongfully filed record

Section 9519 - Numbering, maintaining and indexing records; communicating information provided in records

Section 9520 - Acceptance and refusal to accept record

Section 9521 - Uniform form of written financing statement and amendment

Section 9522 - Maintenance and destruction of records

Section 9523 - Information from filing office; sale or license of records

Section 9524 - Delay by filing office

Section 9525 - Fees

Section 9526 - Filing-office rules

Section 9527 - Duty to report