California Commercial Code

§ 9513

COM § 9513 Effective Jan 1, 2024Div. 9 · Ch. 5

Statute text

(a)A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and either of the following conditions is satisfied:

(1)There is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value.

(2)The debtor did not authorize the filing of the initial financing statement.

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Legislative history

Amended by Stats. 2023, Ch. 210, Sec. 60. (SB 95) Effective January 1, 2024.