Document Type

Peach Sheet


The Act is principally aimed at fine-tuning the central indexing system for article 9 filings created by the General Assembly in 1993. It amends article 9 of title 11, relating to secured transactions, sales of accounts, and chattel paper, to define further what is required on a financing statement, amendment, continuance, assignment, release, or termination. It also provides for the transmission of that information to the central indexing system and specifies what information that system is to maintain. The act defines notice filing and renders ineffective terms in contracts which prohibit assignment, prohibits filing under a trade name if that filing would be misleading to those searching the central index, and strikes former provisions dealing with effective dates and the transition to the central indexing system.

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