- (a) Upon the timely filing of one or more continuations by any secured party(ies) of record, the lapse date of the financing statement shall be postponed for five years.
- (b) The filing of a continuation shall have no effect upon the status of any party to the financing statement.
- (c) Upon the filing of a continuation statement, the status of the financing statement shall remains active.
History Note: Authority G.S. 25-9-515(e); 25-9-526;
Temporary Adoption Eff. July 2, 2001;
Eff. August 1, 2002;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. November 12, 2014.