Section 336A.06 Continuation Statement
336A.06 CONTINUATION STATEMENT.
Subdivision 1.Filing period.
A secured party may file a continuation statement for an effective financing statement within six months before a five-year effective period expires.
Subd. 2.Contents.
A continuation statement must:
(1) be signed, authorized, or otherwise authenticated by the secured party and the debtor;
(2) identify the original effective financing statement by file number; and
(3) state that the original effective financing statement is still effective.
Subd. 3.Effective period.
If a continuation statement is filed within six months before a five-year effective period expires, the effectiveness of the original effective financing statement continues for an additional five years after the original five-year effective period. Additional continuation statements filed within six months before an effective period expires continue the effectiveness of the original effective financing statement for additional five-year periods.
Subd. 4.Filing.
The continuation statement must be filed in the computerized filing system of the Office of the Secretary of State.
History:
1992 c 525 s 7; 2004 c 191 s 7