ROBERT L. EHRLICH, JR., Governor                             Ch. 373

9-706.

(a)     The filing of an initial financing statement in the office specified in §
9-501 continues the effectiveness of a financing statement filed before this title takes
effect if:

(1)     The filing of an initial financing statement in that office would be
effective to perfect a security interest under this title;

(2)     The pre-effective-date financing statement was filed in an office in
another state or another office in this State; and

(3)     The initial financing statement satisfies subsection (c).

(b)     The filing of an initial financing statement under subsection (a) continues
the effectiveness of the pre-effective-date financing statement[:

(1)     If the initial financing statement is filed before this title takes effect,
for the period provided in prior Code § 9-403 with respect to a financing statement;
and

(2)     If the initial financing statement is filed after this title takes effect,]
for the period in § 9-515 with respect to an initial financing statement.

(c)     To be effective for purposes of subsection (a), an initial financing statement
must:

(1)     Satisfy the requirements of Subtitle 5 of this title for an initial
financing statement;

(2)     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; and

(3)     Indicate that the pre-effective-date financing statement remains
effective.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 2003.

Approved May 22, 2003.

CHAPTER 373
(Senate Bill 287)

AN ACT concerning

Normative Aquatic Organisms - State of Nuisance - Abatement and
Summary Abatement Procedures

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