(1) EXCEPT IN THE CASE OF A FINANCING STATEMENT COVERING
ACCOUNTS OR CHATTEL PAPER THAT HAS BEEN SOLD OR GOODS THAT ARE THE
SUBJECT OF A CONSIGNMENT, THERE IS NO OBLIGATION SECURED BY THE
COLLATERAL COVERED BY THE FINANCING STATEMENT AND NO COMMITMENT TO
MAKE AN ADVANCE, INCUR AN OBLIGATION, OR OTHERWISE GIVE VALUE;

(2) THE FINANCING STATEMENT COVERS ACCOUNTS OR CHATTEL
PAPER THAT HAS BEEN SOLD BUT AS TO WHICH THE ACCOUNT DEBTOR OR OTHER
PERSON OBLIGATED HAS DISCHARGED ITS OBLIGATION;

(3) THE FINANCING STATEMENT COVERS GOODS THAT WERE THE
SUBJECT OF A CONSIGNMENT TO THE DEBTOR BUT ARE NOT IN THE DEBTOR'S
POSSESSION; OR

(4) THE DEBTOR DID NOT AUTHORIZE THE FILING OF THE INITIAL
FINANCING STATEMENT.

(B) (D) EXCEPT AS OTHERWISE PROVIDED IN § 9-510, UPON THE FILING OF A
TERMINATION STATEMENT WITH THE FILING OFFICE, THE FINANCING STATEMENT
TO WHICH THE TERMINATION STATEMENT RELATES CEASES TO BE EFFECTIVE.

9-514. ASSIGNMENT OF POWERS OF SECURED PARTY OF RECORD.

(A) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (C), AN INITIAL
FINANCING STATEMENT MAY REFLECT AN ASSIGNMENT OF ALL OF THE SECURED
PARTY'S POWER TO AUTHORIZE AN AMENDMENT TO THE FINANCING STATEMENT BY
PROVIDING THE NAME AND MAILING ADDRESS OF THE ASSIGNEE AS THE NAME AND
ADDRESS OF THE SECURED PARTY.

(B) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (C), A SECURED PARTY
OF RECORD MAY ASSIGN OF RECORD ALL OR PART OF ITS POWER TO AUTHORIZE AN
AMENDMENT TO A FINANCING STATEMENT BY FILING IN THE FILING OFFICE AN
AMENDMENT OF THE FINANCING STATEMENT WHICH:

(1) IDENTIFIES, BY ITS FILE NUMBER, THE INITIAL FINANCING
STATEMENT TO WHICH IT RELATES;

(2) PROVIDES THE NAME OF THE ASSIGNOR; AND

(3) PROVIDES THE NAME AND MAILING ADDRESS OF THE ASSIGNEE.

(C) AN ASSIGNMENT OF RECORD OF A SECURITY INTEREST IN A FIXTURE
COVERED BY A RECORD OF A MORTGAGE WHICH IS EFFECTIVE AS A FINANCING
STATEMENT FILED AS A FIXTURE FILING UNDER § 9-502(C) MAY BE MADE ONLY BY
AN ASSIGNMENT OF RECORD OF THE MORTGAGE IN THE MANNER PROVIDED BY LAW
OF THIS STATE OTHER THAN THE COMMERCIAL LAW ARTICLE.

9-515. DURATION AND EFFECTIVENESS OF FINANCING STATEMENT; EFFECT OF
LAPSED FINANCING STATEMENT.

(A) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTIONS (B), (E), (F), AND (G), A
FILED FINANCING STATEMENT IS EFFECTIVE FOR A PERIOD OF FIVE YEARS AFTER
THE DATE OF FILING.