30-9-402. Formal requisites of financing statement -- amendments -- mortgage as financing statement. (1) A financing statement is sufficient if it gives the names of the debtor and the secured party, is signed by the debtor, gives an address of the secured party from which information concerning the security interest may be obtained, gives a mailing address and the county of residence of the debtor, and contains a statement indicating the types or describing the items of collateral. A financing statement may be filed before a security agreement is made or a security interest otherwise attaches. If the financing statement covers timber to be cut, minerals or the like (including oil and gas) or accounts subject to 30-9-103(5), or farm products or if the financing statement is filed as a fixture filing (30-9-313) and the collateral is goods which are or are to become fixtures, the statement must also comply with subsection (5). A copy of the security agreement is sufficient as a financing statement if it contains the above information and is signed by the debtor.
     (2) A financing statement which otherwise complies with subsection (1) is sufficient when it is signed by the secured party instead of the debtor if it is filed to perfect a security interest in:
     (a) collateral already subject to a security interest in another jurisdiction when it is brought into this state, or when the debtor's location is changed to this state. Such a financing statement must state that the collateral was brought into this state or that the debtor's location was changed to this state under such circumstances.
     (b) proceeds under 30-9-306 if the security interest in the original collateral was perfected. Such a financing statement must describe the original collateral.
     (c) collateral as to which the filing has lapsed, if within 5 years of the lapse; or
     (d) collateral acquired after a change of name, identity, or corporate structure of the debtor (subsection (7)).
     (3) A form substantially as follows is sufficient to comply with subsection (1):
     Name of debtor (or assignor) ......
     Social security number or tax identification number ......
     Address ......
     Name of secured party (or assignee) ......
     Address ......
     1. This financing statement covers the following types (or items) of property:
     (Describe) ......
     2. (If collateral is crops, livestock, or unmanufactured agricultural products) The above described crops, livestock, or unmanufactured agricultural products are growing, being raised, or being produced or are to be grown, raised, or produced on:
     (Describe Real Estate and County Where Located) ......
     3. (If applicable) The above goods are to become fixtures on:
     (Describe Real Estate) ......
     and this financing statement is to be filed in the real estate record. (If the debtor does not have an interest or record) The name of a record owner is ......
     4. (If products of collateral are claimed) Products of the collateral are also covered.
     
     
     (Use whichever     Signature of Debtor (or Assignor) ......
     is applicable)     Signature of Secured Party (or Assignee) ......
     
     (4) A financing statement may be amended by filing a writing signed by both the debtor and the secured party. An amendment does not extend the period of effectiveness of a financing statement. If any amendment adds collateral, it is effective as to the added collateral only from the filing date of the amendment. In this chapter, unless the context otherwise requires, the term "financing statement" means the original financing statement and any amendments.
     (5) (a) A financing statement covering timber to be cut or covering minerals or the like (including oil and gas) or accounts subject to 30-9-103(5), or a financing statement filed as a fixture filing (30-9-313) when the debtor is not a transmitting utility, must show that it covers this type of collateral, must recite that it is to be filed in the real estate records, and the financing statement must contain a description of the real estate sufficient if it were contained in a mortgage of the real estate to give constructive notice of the mortgage under the law of this state. If the debtor does not have an interest of record in the real estate, the financing statement must show the name of a record owner.
     (b) A financing statement covering farm products must contain a reasonable description of the real estate upon which the farm products are produced or located. A legal description of the real estate is not required; a statement naming the county or counties in which the farm products are produced or located is sufficient to satisfy this subsection (b).
     (6) (a) A mortgage is effective as a financing statement filed as a fixture filing from the date of its recording if:
     (i) the goods are described in the mortgage by item or type;
     (ii) the goods are or are to become fixtures related to the real estate described in the mortgage;
     (iii) the mortgage complies with the requirements for a financing statement in this section other than a recital that it is to be filed in the real estate records; and
     (iv) the mortgage is duly recorded.
     (b) No fee with reference to the financing statement is required other than the regular recording and satisfaction fees with respect to the mortgage.
     (7) A financing statement sufficiently shows the name of the debtor if it gives the social security number or tax identification number of the debtor and the individual, partnership, or corporate name of the debtor, whether or not it adds other trade names or the names of partners. If the debtor so changes the debtor's name or in the case of an organization its name, identity, or corporate structure that a filed financing statement becomes seriously misleading, the filing is not effective to perfect a security interest in collateral acquired by the debtor more than 4 months after the change unless a new appropriate financing statement is filed before the expiration of that time. A filed financing statement remains effective with respect to collateral transferred by the debtor even though the secured party knows of or consents to the transfer.
     (8) A financing statement substantially complying with the requirements of this section is effective even though it contains minor errors which are not seriously misleading.

     History: En. Sec. 9-402, Ch. 264, L. 1963; amd. Sec. 1, Ch. 272, L. 1967; R.C.M. 1947, 87A-9-402; amd. Sec. 74, Ch. 402, L. 1983; amd. Sec. 1, Ch. 619, L. 1987; amd. Sec. 1, Ch. 304, L. 1989; amd. Sec. 2, Ch. 326, L. 1989; amd. Sec. 1, Ch. 335, L. 1993.