Secured Transactions

ORS 79.0512
UCC 9-512

(1)

Subject to ORS 79.0509 (UCC 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 or recorded in a filing office described in ORS 79.0501 (UCC 9-501) (1)(a), provides the information specified in ORS 79.0502 (UCC 9-502) (2).

(2)

Except as otherwise provided in ORS 79.0515 (UCC 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 collateral 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 amendment.

(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 name of a new secured party of record. [2001 c.445 §83; 2003 c.14 §27]
Source

Last accessed
Mar. 11, 2023

REMOVE ADS