(a) Disposition. -- A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition.
(b) Information becoming seriously misleading. -- Except as otherwise provided in subsection (c) of this section and section 9- 508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under section 9- 506.
(c) Change in debtor's name. -- If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under section 9-503(a) so that the financing statement becomes seriously misleading under section 9-506:
(1) The financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriously misleading; and
(2) The financing statement is not effective to perfect a
security interest in collateral acquired by the debtor more than
four months after the filed financing statement becomes seriously
misleading, unless an amendment to the financing statement which
renders the financing statement not seriously misleading is filed within four months after the financing statement became seriously
Note: WV Code updated with legislation passed through the 2016 Regular Session
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