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Can you summarize MNST 336.9-706?
UNIFORM COMMERCIAL CODE > WHEN INITIAL FINANCING STATEMENT SUFFICES TO CONTINUE EFFECTIVENESS OF FINANCING STATEMENT.
Short Summary
This legal document pertains to the continuation of the effectiveness of financing statements. It states that the filing of an initial financing statement in the specified office continues the effectiveness of a financing statement filed before Laws 2000, chapter 399 takes effect. The initial financing statement must satisfy certain requirements, including identifying the pre-effective date financing statement and indicating that it remains effective. The filing of an initial financing statement extends the effectiveness of the pre-effective date financing statement for a specific period, depending on whether it is filed before or after Laws 2000, chapter 399 takes effect. This document does not mention any exemptions or penalties.
Whom does it apply to?
Creditors who have filed a financing statement before Laws 2000, chapter 399 takes effect
What does it govern?
Continuation of effectiveness of financing statements
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota