§490:9-706  When initial financing statement
suffices to continue effectiveness of financing statement.  (a)  The filing
of an initial financing statement in the office specified in section 490:9-501
continues the effectiveness of a financing statement filed before this article
takes effect if:



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



(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 article takes effect, for the period provided in the former section
490:9-403 with respect to a financing statement; and



(2)  If the initial financing statement is filed after
this article takes effect, for the period provided in section 490:9-515 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 part 5 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. [L 2000, c 241, pt of §1]