A financing statement sufficiently indicates the collateral that it covers if the financing statement provides:

1. (1) A description of the collateral pursuant to section 4-9-108; or
2. (2) An indication that the financing statement covers all assets or all personal property.

Source: L. 2001: Entire article R&RE, p. 1381, § 1, effective July 1.

Editor's note: This section is similar to former § 4-9-402 (1) as it existed prior to 2001.