24.48.130 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 24.4272 continues the effectiveness of a financing statement filed before this title takes effect if:

(1) The filing of an initial financing statement in that office would be effective to perfect a security interest under Chapters 24.42 through 24.48 as amended by Chapters 24.42 through 24.48;

(2) The pre-effective-date financing statement was filed in an office in another state; and

(3) The initial financing statement satisfies subsection (c).

(b) The filing of an initial financing statement under subsection 1 continues the effectiveness of the pre-effective-date financing statement:

(1) If the initial financing statement is filed before Chapters 24.42 through 24.48 take effect, for the period provided in unamended Section 24.46.140 with respect to an initial financing statement; and

(2) If the initial financing statement is filed after Chapters 24.42 through 24.48 take effect, for the period provided in Section 24.46.140 as amended by Chapters 24.42 through 24.48 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 section 24.4272 through Section 24.46.250 as amended by Chapters 24.42 through 24.48 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.