Senate Bill sb0218

    Florida Senate - 2003                                   SB 218

    By Senator Campbell





    32-149-03

  1                      A bill to be entitled

  2         An act relating to the Uniform Commercial Code;

  3         amending s. 679.509, F.S.; providing additional

  4         requirements for filing certain amendments to

  5         financing statements; providing an effective

  6         date.

  7  

  8  Be It Enacted by the Legislature of the State of Florida:

  9  

10         Section 1.  Subsection (3) of section 679.509, Florida

11  Statutes, is amended to read:

12         679.509  Persons entitled to file a record.--

13         (3)  A person may file an amendment other than an

14  amendment that adds collateral covered by a financing

15  statement or an amendment that adds a debtor to a financing

16  statement only if:

17         (a)  The secured party of record authorizes the filing;

18  or

19         (b)  The amendment is a termination statement for a

20  financing statement as to which the secured party of record

21  has failed to file or send a termination statement as required

22  by s. 679.5131(1) or (3), the debtor authorizes the filing,

23  and the termination statement indicates that the debtor

24  authorized it to be filed.

25         Section 2.  This act shall take effect July 1, 2003.

26  

27            *****************************************

28                          SENATE SUMMARY

29    Revises provisions of the Uniform Commercial Code to
      establish additional requirements for filing certain
30    amendments to financing statements.

31  

                                  1

CODING: Words stricken are deletions; words underlined are additions.