Sec. 42a-9-706. When initial financing statement suffices to continue effectiveness of financing statement.
Sec. 42a-9-706. When initial financing statement suffices to continue effectiveness of financing statement. (a) The filing of an initial financing statement in the office
specified in section 42a-9-501 continues the effectiveness of a financing statement filed
before October 1, 2001, if:
(1) The filing of an initial financing statement in that office would be effective to
perfect a security interest under public act 01-132*;
(2) The pre-effective-date financing statement was filed in an office in another state
or another office in this state; and
(3) The initial financing statement satisfies subsection (c).
(b) The filing of an initial financing statement under subsection (a) continues the
effectiveness of the pre-effective-date financing statement:
(1) If the initial financing statement is filed before October 1, 2001, for the period
provided in section 42a-9-403 of the general statutes, revision of 1958, revised to January
1, 2001, with respect to a financing statement; and
(2) If the initial financing statement is filed after October 1, 2001, for the period
provided in section 42a-9-515 with respect to an initial financing statement.
(c) To be effective for purposes of subsection (a), an initial financing statement
must:
(1) Satisfy the requirements of part 5 of this article for an initial financing statement;
(2) Identify the pre-effective-date financing statement by indicating the office in
which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement
filed with respect to the financing statement; and
(3) Indicate that the pre-effective-date financing statement remains effective.
(P.A. 01-132, S. 130.)
*Note: Public act 01-132 is entitled "An Act Adopting Revised Article 9 of the Uniform Commercial Code Concerning
Secured Transactions". (See Reference Table captioned "Public Acts of 2001" in Volume 16 which lists the sections
amended, created or repealed by the act.)