554.9507 Effect of certain events on effectiveness of financing statement. 1. Disposition. A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a securityinterest or agricultural lien continues, even if the secured party knows of or consents to thedisposition. 2. Information becoming seriously misleading. Except as otherwise provided in subsection 3 and section 554.9508, a financing statement is not rendered ineffective if,after the financing statement is filed, the information provided in the financing statementbecomes seriously misleading under section 554.9506. 3. Change in debtor’s name. If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under section 554.9503, subsection 1,so that the financing statement becomes seriously misleading under section 554.9506: a. the financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriouslymisleading; and b. ncing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriouslymisleading; and b. the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four months after the filed financing statement becomesseriously misleading, unless an amendment to the financing statement which renders thefinancing statement not seriously misleading is filed within four months after the financingstatement became seriously misleading. 2000 Acts, ch 1149, §78, 185, 187; 2012 Acts, ch 1052, §16, 37Referred to in §554.9508 Sat Dec 23 11:02:10 2023 Iowa Code 2024, Section 554.9507 (31, 0)
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