9-710. Filings; statements filed prior to July 1, 1999; how treated.

(a) A financing statement or continuation statement which was filed in the proper place in this state prior to July 1, 1999, which has not lapsed by December 31, 1999, and for which the place of filing has been changed pursuant to section 9-401, as such section existed on July 1, 1999, shall lose its perfection unless a new continuation statement is filed with the Secretary of State on or after July 1, 1999, but on or before December 31, 1999. Such continuation statement shall identify the original statement by county, file number, and date and time of filing, list the collateral of the original filing, and include a statement that the original financing statement is still effective. The filing of a new continuation statement shall preserve the priority of the original filing and shall be effective for five years from the expiration of the original filing or any continuation statement filed before July 1, 1999.

(b) No continuation statement filed pursuant to subsection (a) of this section on or after July 1, 1999, shall be ineffective solely because it: (i) Failed to identify the original statement by county, file number, or date and time of filing; (ii) indicated the types or described the items of the collateral indicated in the financing statement instead of listing the collateral of the original filing; or (iii) failed to include a statement that the original financing statement is still effective.

(c) The effectiveness of a financing statement or continuation statement which was filed in the proper place in this state prior to July 1, 1999, that lapses on or after July 1, 1999, but on or before December 31, 1999, and for which the place of filing has been changed pursuant to section 9-401, as such section existed on July 1, 1999, may be continued by the filing of a continuation statement with the Secretary of State in accordance with the provisions of subsection (3) of section 9-403, as such subsection existed on July 1, 1999. If the effectiveness of a financing statement or continuation statement is continued by the filing of a continuation statement prior to July 1, 1999, such financing statement or continuation statement must be continued by the timely filing of a continuation statement in accordance with the provisions of subsection (a) of this section.

(d) The priority of a security interest is not affected by the fact that a continuation statement filed in accordance with this section is filed at a different place than the original financing statement.

Source:R.S.Supp.,1999, § 9-709; Laws 2000, LB 929, § 50.