As Amended
SEC. 75-9-506. Effect of errors or omissions [Effective January 1, 2002].
(a) A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.
(b) Except as otherwise provided in subsection (c), a financing statement that fails sufficiently to provide the name of the debtor in accordance with Section 75-9-503(a) is seriously misleading.
(c) If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with Section 75-9-503(a), the name provided does not make the financing statement seriously misleading.
(d) For purposes of Section 75-9-508(b), the "debtor's correct name" in subsection (c) means the correct name of the new debtor.
SOURCES: Former 1972 Code § 75-9-506 [Codes, 1942, § 41A:9-506; Laws, 1966, ch. 316, § 9-506, eff March 31, 1968] is now found in comparable provisions enacted at §§ 75-9-623 and 75-9-624 by Laws, 2001, ch. 495, § 1. Present § 75-9-506 was derived from former 1972 Code § 75-9-402 [Codes, 1942, § 41A:9-402; Laws, 1966, ch. 316, § 9-402; Laws, 1968, ch. 490, § 1; Laws, 1977, ch. 452, § 25, eff from and after April 1, 1978] and was enacted by Laws, 2001, ch. 495, § 1, HB 1311, eff from and after January 1, 2002.
PREVIOUS VERSIONS: Pre-2001