Section 400.9-506

Title XXVI TRADE AND COMMERCE

Chapter 400

Effective - 01 Jul 2001, see footnote   

  400.9-506.  Effect of errors or omissions. — (a)  A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.

  (b)  Except as otherwise provided in subsection (c), a financing statement that fails sufficiently to provide the name of the debtor in accordance with section 400.9-503(a) is seriously misleading.

  (c)  If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with section 400.9-503(a), the name provided does not make the financing statement seriously misleading.

  (d)  For purposes of section 400.9-508(b), the "debtor's correct name" in subsection (c) means the correct name of the new debtor.

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(L. 1963 p. 503 § 9-506, A.L. 2001 S.B. 288)

Effective 7-01-01

(1976) Held, common law meaning of "tender" is applicable in construing this section and waiver of tender can be had.  Owens v. Automobile Recovery Bureau, Inc. (Mo.), 544 S.W.2d 26.