- 1. Minor errors and omissions. A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.
- 2. Financing statement seriously misleading. Except as otherwise provided in subsection 3, a financing statement that fails sufficiently to provide the name of the debtor in accordance with section 554.9503, subsection 1, is seriously misleading.
- 3. Financing statement not seriously misleading. If a search of the records of the filing office under the debtor’s correct name, using the filing office’s standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with section 554.9503, subsection 1, the name provided does not make the financing statement seriously misleading.
- 4. Debtor’s correct name. For purposes of section 554.9508, subsection 2, the “debtor’s correct name” in subsection 3 means the correct name of the new debtor.
2000 Acts, ch 1149, §77, 185, 187
Referred to in §554.9507, 554.9508