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 9.108; or
2. (2) an indication that the financing statement covers all assets or all personal property.

Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001;

Acts 2001, 77th Leg., ch. 705, Sec. 15, eff. June 13, 2001.