Kan. Admin. Regs. § 7-17-16

Current through Register Vol. 43, No. 49, December 5, 2024

Section 7-17-16 - Status of parties upon filing a termination statement

(a) The filing of a termination statement shall not affect the status of any party to the financing statement.

(b) A termination statement shall not affect the status of the financing statement, and the financing statement shall remain active in the information management system for one year after it lapses. If the termination statement relates to a financing statement against a transmitting utility, the financing statement shall become inactive one year after it is terminated with respect to all secured parties of record.

(c) A termination statement may be filed in the filing office in which the financing statement was filed before the effective date of L. 2000, Ch. 142, unless an initial financing statement has been filed pursuant to L. 2000, Ch. 142, Sec. 131(c), to be codified as K.S.A. 84-9-706(c), in the office specified by law.

Kan. Admin. Regs. § 7-17-16

Authorized by L. 2000, Ch. 142, §97; implementing L. 2000, Ch. 142, §84; effective Oct. 12, 2001.