HB 0283, Engrossed 1 2003
1	A bill to be entitled
2	An act relating to the Uniform Commercial Code; amending
3	s. 679.509, F.S.; providing additional requirements for
4	filing certain amendments to financing statements;
5	amending s. 679.513, F.S.; providing exceptions to certain
6	requirements for filing termination statements; providing
7	an effective date.
8
9	Be It Enacted by the Legislature of the State of Florida:
10
11	Section 1. Subsection (3) of section 679.509, Florida
12	Statutes, is amended to read:
13	679.509 Persons entitled to file a record.--
14	(3) A person may file an amendment other than an amendment
15	that adds collateral covered by a financing statement or an
16	amendment that adds a debtor to a financing statement only if:
17	(a) The secured party of record authorizes the filing; or
18	(b) The amendment is a termination statement for a
19	financing statement as to which the secured party of record has
20	failed to file or send a termination statement as required by s.
21	679.513679.5131(1) or (3), the debtor authorizes the filing,
22	and the termination statement indicates that the debtor
23	authorized it to be filed.
24	Section 2. Subsection (4) of section 679.513, Florida
25	Statutes, is amended to read:
26	679.513 Termination statement.--
27	(4) Except as otherwise provided in s. 679.510,upon the
28	filing of a termination statement with the filing office, the
29	financing statement to which the termination statement relates
30	ceases to be effective. Except as otherwise provided in s.
31	679.510,for purposes of ss. 679.519(7) and 679.522(1), the
32	filing with the filing office of a termination statement
33	relating to a financing statement that indicates that the debtor
34	is a transmitting utility also causes the effectiveness of the
35	financing statement to lapse.
36	Section 3. This act shall take effect July 1, 2003.