Pub. 6 2011-2012 Issue 1

www.nebankers.org 22 Extraordinary Service for Extraordinary Members. debtor’s name change to file a new financing statement in the debtor’s new jurisdiction to remain perfected; however, the grace period did not apply to collateral acquired after the new debtor became bound by the old debtor’s security agreement. The amendments provide that a financing statement filed in the original jurisdiction under the original debtor’s name is effective to perfect a security interest in collateral the new debtor acquires within four months after the new debtor becomes bound by the security agreement. The secured party must file a financing statement in the new jurisdiction under the new debtor’s name to remain perfected past the four-month grace period. Effective Date of Amendments The amendments to Article 9 of the UCC become operative on July 1, 2013. The amendments do not render ineffective a financing statement that, before July 1, 2013, is filed and satisfies the pre-amendment perfection rules. However, a pre-amendment financing statement ceases to be effective at the time the financing statement would have ceased to be effective had the amendments not become law. To continue a pre-amendment financing statement, a secured party must amend the pre-amendment financing statement to include the proper information prior to the time the pre-amendment financing statement lapses. Z For more information about Baird Holm, call (402) 344-0500 or visit www. bairdholm.com . You may reach Brandon Tomjack and Eric Adams in the firm’s Financial Transactions Section at btomjack@bairdholm.com and eadams@bairdholm.com, respectively. Q UCC Article 9 — continued REACHYOURTARGETAUDIENCE AFFORDABLY Find out how targeted advertising can produce real, measurable results for your organization. ADVERTISE AND GET RESULTS Don Brown, Advertising Sales 801.746.4003 | don@spectruminkpublishing.com