SECTION 95.307. Amendments Generally

Upon the filing of an amendment the status of the parties shall be unchanged, except that in the case of an amendment that adds a debtor or secured party, the new debtor or secured party shall be added to the appropriate index and associated with the record of the financing statement in the UCC information management system, and an amendment that designates an assignee shall cause the assignee to be added as a secured party of record with respect to the affected financing statement in the UCC information management system. Notwithstanding the filing of an amendment that deletes a debtor or a secured party from a financing statement, no debtor or secured party of record is deleted from the UCC information management system. A deleted secured party will still be treated by the filing office as a secured party of record as the filing office cannot verify the effectiveness of an amendment. In general, the filing of an amendment does not affect the status of the financing statement.

Source Note: The provisions of this §95.307 adopted to be effective July 1, 2012, 37 TexReg 4571; amended to be effective January 9, 2014, 39 TexReg 73