- (1) Continuation of Lapse Date. Upon the timely filing of a continuation statement by any secured party of record, the lapse date of the financing statement shall be postponed for five
- (5) years from the prior lapse date. Only one continuation statement can be filed on a financing statement during the continuation period.
- (2) Status. The filing of a continuation statement shall have no effect upon the status of any party to the financing statement or upon the status of the financing statement.
Authority: T.C.A. §§4-5-202, 4-5-204, 47-9-515, 47-9-519, 47-9-522(a), 47-9-526 and 2012 Tenn. Pub. Acts Ch. 708. Administrative History: Original rule filed October 23, 2000; effective January 6, 2001. Repeal and new rule filed March 19, 2013; effective June 17, 2013.