La. Admin. Code tit. 10 § XIX-309
Current through Register Vol. 50, No. 11, November 20, 2024
Section XIX-309 - Procedures for Filing Amendments, Assignments, Releases, Continuations and Terminations of EFSA. Any statement of continuation, amendment, release, continuation, termination, or other similar statement pertaining to an effective financing statement shall identify the initial file number and shall be filed with the same filing officer with whom the effective financing statement was originally filed.B. Any amendment resulting in a material change to a security device shall be filed in writing and accompanied by related EFS (Form UCC-3F) within three months of the amendment. 1. A material change is whatever change would render the master list entry no longer informative as to what is subject to the security interest in question.2. The requirement to amend arises when the information already made available no longer serves the purpose and other information is necessary to do so.3. The amendment must be signed by both the secured party and the person subjecting the farm product(s) to the security interest.C. All assignments of security devices which are accompanied by related EFS shall become effective at time and date of filing with the filing officer.D. All continuations of security devices which are accompanied by related EFS must be filed with the filing officer within six months before the expiration of the initial five-year period and must be signed by both the secured party and the person subjecting the farm product to the security interest.E. Each person who filed an effective financing statement with the filing officer shall request cancellation thereof within 10 calendar days after the date the person who has granted or who is affected by the security device requests in writing, cancellation of the security device, provided the effective financing statement and security interest thereunder are then no longer in effect.La. Admin. Code tit. 10, § XIX-309
Promulgated by the Department of State, Commercial Division, Office of Uniform Commercial Code, LR 39:2796 (October 2013).AUTHORITY NOTE: Promulgated in accordance with R.S. 3:3651 et seq., R.S. 10:9-526, R.S. 36:742, and Public Law 99-198 (Food Security Act of 1985).