355.9 -512 Amendment of financing statement. (1) Subject to KRS 355.9 -509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (5) of this section, otherwise amend the information provided in, a financing statement by filing an amendment that: (a) Identifies, by its file number, the initial financing statement to which the amendment relates; and (b) If the amendment relates to an initial financing statement filed in a filing office described in KRS 355.9 -501(1)(a), provides the informatio n specified in KRS 355.9 -502(2). (2) Except as otherwise provided in KRS 355.9 -515, the filing of an amendment does not extend the period of effectiveness of the financing statement. (3) A financing statement that is amended by an amendment that adds colla teral is effective as to the added collateral only from the date of the filing of the amendment. (4) A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendm ent. (5) An amendment is ineffective to the extent it: (a) Purports to delete all debtors and fails to provide the name effective as to the added debtor only from the date of the filing of the amendm ent. (5) An amendment is ineffective to the extent it: (a) Purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or (b) Purports to delete all secured parties of record and fails to provide the n ame of a new secured party of record. Effective: July 1, 2001 History: Created 2000 Ky. Acts ch. 408, sec. 103, effective July 1, 2001.
Kentucky Legal Code