Michigan § 440.9706 - When initial financing statement suffices to continue effectiveness of financing statement.
Full text of Michigan Michigan Compiled Laws § 440.9706 — When initial financing statement suffices to continue effectiveness of financing statement., with citation guidance and answers to common questions.
§ 440.9706. When initial financing statement suffices to continue effectiveness of financing statement.
The filing of an initial financing statement in the office specified in section 9501 continues the effectiveness of a financing statement filed before this amendatory act takes effect if all of the following apply:
The filing of an initial financing statement in that office would be effective to perfect a security interest under this amendatory act.
The pre-effective-date financing statement was filed in an office in another state or another office in this state.
The initial financing statement satisfies subsection (3).
The filing of an initial financing statement under subsection (1) continues the effectiveness of the pre-effective-date financing statement if both of the following apply:
If the initial financing statement is filed before this amendatory act takes effect, for the period provided in section 9403 before this amendatory act takes effect with respect to a financing statement.
If the initial financing statement is filed after this amendatory act takes effect, for the period provided in section 9515 with respect to an initial financing statement.
To be effective for purposes of subsection (1), an initial financing statement must do all of the following:
Satisfy the requirements of part 5 for an initial financing statement.
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.
Indicate that the pre-effective-date financing statement remains effective.
Frequently Asked Questions About Michigan § 440.9706
What does Michigan Compiled Laws § 440.9706 cover?
Section 440.9706 ("When initial financing statement suffices to continue effectiveness of financing statement.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 440.9706?
A common citation format is "Michigan Compiled Laws § 440.9706" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 440.9706 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.