In force2022 Revised EditionCurrent version · 2022 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Secured Transactions Act · 2022 Revised Edition · Part · Registration
Secured Transactions Act · 2022 Revised Edition · Part · Registration
Official textFrom Attorney General's Chambers, unchanged
The validity of the registration of a financing statement shall not be affected by a defect, irregularity, omission or error unless the defect, irregularity, omission or error is seriously misleading.
financing statement
“financing statement” means forms in writing or their electronic equivalent as provided in the regulations on which information is provided in order to effect, amend, terminate or continue a registration;
If there is a seriously misleading defect, irregularity, omission or error in —
the identifier of a debtor; or
the serial number of the collateral, if so assigned, the registration shall be invalid.
Secured Transactions
If it is alleged that a defect, irregularity, omission or error is seriously misleading, it is not necessary to prove that any person was actually misled by it.
An incorrect description of certain collateral shall not render the registration invalid with respect to other collateral sufficiently described in the financing statement.
collateral
“collateral” means personal property that is subject to a security interest;
collateral
“collateral” means personal property that is subject to a security interest;
financing statement
“financing statement” means forms in writing or their electronic equivalent as provided in the regulations on which information is provided in order to effect, amend, terminate or continue a registration;
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