1999 Minnesota Statutes

     336A.06 Continuation statement. 

    Subdivision 1.    Filing period.  A secured party may 
 file a continuation statement for an effective financing 
 statement within six months before a five-year effective period 
 expires.  

    Subd. 2.    Contents.  A continuation statement must: 

    (1) be signed by the secured party and the debtor; 

    (2) identify the original effective financing statement by 
 file number; and 

    (3) state that the original effective financing statement 
 is still effective.  

    Subd. 3.    Effective period.  If a continuation 
 statement is filed within six months before a five-year 
 effective period expires, the effectiveness of the original 
 effective financing statement continues for an additional five 
 years after the original five-year effective period.  Additional 
 continuation statements filed within six months before an 
 effective period expires continue the effectiveness of the 
 original effective financing statement for additional five-year 
 periods.  

    Subd. 4.    Filing.  The continuation statement must be 
 filed in the filing office where the original effective 
 financing statement is filed.  

    HIST: 1992 c 525 s 7