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§ 9 707 — 9 707 — U.S. Virgin Islands Law | CourtGPT
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U.S. Virgin Islands Legal Code

9 707

U.S. Virgin Islands § 9 707 — U.S. Virgin Islands law

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(a) 'Pre-effective-date financing statement'. In this section, 'pre-effective-date financing statement' means a financing statement filed before this article takes effect.\n(b) Applicable law. After this article takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in Part 3. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.\n(c) Method of amending: general rule. Except as otherwise provided in subsection (d), if the law of this State governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after this article takes effect only if:\n(1) the pre-effective-date financing statement and an amendment are filed in the office specified in § 9–501;\n(2) an amendment is filed in the office specified in § 9–501 concurrently with, or after the filing in that office of, an

ing statement and an amendment are filed in the office specified in § 9–501;\n(2) an amendment is filed in the office specified in § 9–501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies § 9–706(c); or\n(3) an initial financing statement that provides the information as amended and satisfies § 9–706(c) is filed in the office specified in § 9–501.\n(d) Method of amending: continuation. If the law of this State governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under § 9–705(d) and (f) or 9–706.\n(e) Method of amending: additional termination rule. Whether or not the law of this State governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this State may be terminated after this article takes effect by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies § 9–706(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Part 3 as the office

s filed, unless an initial financing statement that satisfies § 9–706(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Part 3 as the office in which to file a financing statement.