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Can you summarize MNST 336.9-806?
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 2011, chapter 31, 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 period of continued effectiveness depends on whether the initial financing statement is filed before or after Laws 2011, chapter 31, takes effect. This document applies to creditors who have filed a financing statement before the specified date.
Whom does it apply to?
Creditors who have filed a financing statement before Laws 2011, chapter 31, 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