KRS 355.9-707: Amendment of pre-effective-date financing statement.

(1) In this section, "pre-effective-date financing statement" means a financing statement

filed before July 1, 2001.

(2) On or after July 1, 2001, a person may add or delete collateral covered by, continue

or terminate the effectiveness of, or otherwise amend information provided in, a

pre-effective-date financing statement only in accordance with the law of the

jurisdiction governing perfection as provided in Part 3 of this Article. However, the

effectiveness of a pre -effective-date financing statement also ma y be terminated in

accordance with the law of the jurisdiction in which the financing statement is filed.

(3) Except as otherwise provided in subsection (4) of this section, if the law of this

Commonwealth governs perfection of a security interest, the inf ormation in a pre -

effective-date financing statement may be amended on or after July 1, 2001, only if:

(a) The pre-effective-date financing statement and an amendment are filed in the

office specified in KRS 355.9-501;

(b) An amendment is filed in the offi ce specified in KRS 355.9 -501 concurrently

with, or after the filing in that office of, an initial financing statement that

satisfies KRS 355.9-706(3); or

(c) An initial financing statement that provides the information as amended and

satisfies KRS 355.9-706(3) is filed in the office specified in KRS 355.9-501.

(4) If the law of this Commonwealth governs perfection of a security interest, the

effectiveness of a pre -effective-date financing statement may be continued only

under KRS 355.9-705(4) and (6) or 355.9-706.

(5) Whether or not the law of this Commonwealth governs perfection of a security

interest, the effectiveness of a pre -effective-date financing statement filed in this

Commonwealth may be terminated on or after July 1, 2001, by filing a termination

statement in the office in which the pre -effective-date financing statement is filed,

unless an initial financing statement that satisfies KRS 355.9 -706(3) has been filed

in the office specified by the law of the jurisdiction governing perfection as

provided in Part 3 of this article as the office in which to file a financing statement.