47-9706. When initial financing statement
suffices as continuation statement


A. The filing of an initial financing statement in the office specified in section
47-9501 continues the effectiveness of a financing statement filed before July 1, 2001
if:


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


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 B of this section.


B. The filing of an initial financing statement under subsection A of this section
continues the effectiveness of the pre-effective date financing statement:


1. If the initial financing statement is filed before July 1, 2001, for the period
provided in former section 47-9403 with respect to a financing statement; and


2. If the initial financing statement is filed before July 1, 2001, for the period
provided in section 47-9515 with respect to an initial financing statement.


C. To be effective for purposes of subsection A of this section, an initial
financing statement must:


1. Satisfy the requirements of article 5 of this chapter 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.